Online "Brain Games" Developer Lumos Labs Raises $3 Million

Authored by Mark Hefflinger on June 3, 2008 - 6:42am.

San Francisco - Lumos Labs, a developer of Web-based, "scientifically-tested brain games," announced on Tuesday that it has raised $3 million in equity financing from Pequot Ventures, Norwest Venture Partners and previous backers including Michael Dearing.

Founded in 2005, San Francisco-based Lumos Labs works in collaboration with scientists from Stanford, UCSF and elsewhere to create online games that improve cognitive function in adults.

Users pay a monthly subscription fee to use its service and track their progress with performance reports and feedback.

The company will use the funds for the ongoing development of Lumosity.com.

Related Links:
http://snipurl.com/2chrn

Published in DMW Daily, June 3, 2008

Previous story: Buzznet Launches Celebuzz Social Network for Gossip Fans
Next story: Online Ad Network Collective Media Acquires Personifi

Email this page

Comments

brain games market

Submitted by anonymous (not verified) on June 3, 2008 - 8:19am.

SharpBrains estimates a $225m in 2007 for brain games http://www.sharpbrains.com/market-report/report-highlights/ In this landmark, inaugural report, SharpBrains estimates the size of the US brain fitness software market at $225M in 2007, up from $100m in 2005 (50% CAGR). The 87-page report is the first to define the brain fitness software market and analyze the size and trends of its four customer segments: consumers, healthcare & insurance providers, K12 school systems, and fortune 1000 companies, military, and sports teams. According to SharpBrains, two segments fueled the market growth from 2005 to 2007: consumers (grew from $5m to $80m, 300% CAGR) and healthcare & insurance providers (grew from $36m to $65m, 35% CAGR).