AI startup Peak bags Series B funding for global expansion
Artificial Intelligence startup Peak has announced a $21 million Series B funding round led by VC firm Oxx, with participation from existing investors MMC Ventures and Praetura Ventures, and newbie Arete.
This brings its total funding raised to date to $43 million.
The Series B cash will fuel global expansion plans, with new offices opening in both the USA and India, as well as continued R&D investment in Peak’s decision intelligence software.
As a result, the company is planning to create 130 new jobs globally in the coming year. As part of the round, Oxx's Richard Anton also joins the board.
Richard Potter, Co-founder and CEO at Peak, says: “It’s becoming impossible to run a business without AI.”
“Modern businesses are complex and operate in an ever-changing world. Making critical decisions without AI would be like driving a Formula 1 car while wearing a blindfold.”
He adds: “Our software empowers day-to-day decision makers across businesses, and we’re proud to be working with household names such as PrettyLittleThing, KFC, and PepsiCo, and other industry leaders like Marshalls and Speedy Hire.”
Anton comments: "The pandemic has meant digitisation is no longer a choice; it’s a requirement. Peak has made it easier for businesses to get started and see rapid results from AI-enabled decision making.”
“We are delighted to support them on their way to becoming the category defining global leader in decision intelligence."
