Creandum leads $7m series-A round into Peak
Swedish venture capital firm Creandum has led a $7m series-A round for London-based brain-training app Peak, alongside existing investors DN Capital, London Venture Partners (LVP) and Qualcomm Ventures.
Details surrounding the breakdown of the round have yet to be disclosed.
The investment is the first by Creandum's third fund in the UK. The vehicle has so far focused on first round or seed rounds of up to €10m in companies across the Nordics. Previous investments include Copenhaguen-based software developer Planday and Stockholm-headquartered online music library Epidemic Sound.
Launched in May 2012, Creandum III held a first close at €92.5m that year and a final close on €135m in May 2013.
DN Capital's contribution to the round is thought to lie between €700,000-3m. This is the second series-A round involving the London-based firm in the past few days. On 15 April, it injected €6m in Belgian food-delivery start-up Take Eat Easy alongside Rocket Internet and Piton Capital.
Like the Take Eat Easy deal, DN Capital will invest in Peak via its Global Venture Capital III Fund. Launched in July 2012 with a €100m target, the vehicle held a first close on €51.5m one month later and then raised €144m at its final close in September 2014.
Having raised more than $10m since its foundation, Peak intends to use the fresh capital increase to strengthen its team with neuroscientists and engineers.
Previous funding
DN Capital backed Peak in March 2013, when it took part in a $1.8m seed round alongside venture capital firms Venture Partners, Jaine Capital, Initial Capital and Lifeline Ventures, according to unquote" data. The firm claims Peak's management team has since made progress in developing the technology processes behind the application.
Company
Founded in 2012, Peak is a mobile brain-training platform that promotes advancements in games and neuroscience to help students and business pofessionals improve their cognitive skills.
People
Creandum was represented by partner Daniel Blomquist, while partners David Gardner and Steve Schlenker led the deal for London Venture Partners and DN Capital, respectively. Itamar Lesuisse is co-founder and CEO of Peak.
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