Peak AI closes mega Series C funding round
Artificial Intelligence startup Peak has announced a $75 million Series C funding round led by new investor SoftBank Vision Fund 2.
There was also participation from all existing backers, including MMC Ventures, Oxx, Praetura Ventures, Arete and Octopus Ventures. This brings Peak’s total funding raised to date to $119 million.
The cash will fuel global expansion, with new offices opening in both the USA and India, as well as increasing R&D investment in Peak’s decision intelligence software.
As a result, it is planning to create more than 200 new jobs globally in the coming year.
Richard Potter, Co-founder and CEO at Peak, says: “We’re proud to be working with some of the biggest brands in the world.”
“Modern businesses are complex and operate in an ever changing world. It’s becoming impossible to run them without AI, which is enabling them to make consistently great decisions, faster and more accurately than ever before.”
“No other software company offers a platform like Peak. We uniquely simplify the task of data scientists and engineers, who use Peak to rapidly create and deploy AI applications to business users.”
“These applications empower day to day decision makers across businesses to achieve transformational gains.”
He concludes: “We’re delighted to welcome SoftBank as our new lead investor. The funding will help us empower many more businesses with Decision Intelligence over the coming years. It will further catalyse our growth and global expansion plans.”
Max Ohrstrand, Senior Investor for SoftBank Investment Advisers, comments: “In Peak we have a partner with a shared vision that the future enterprise will run on a centralised AI software platform capable of optimising entire value chains.”
“To realise this a new breed of platform is needed and we’re hugely impressed with what Richard and the excellent team have built at Peak.”
“We’re delighted to be supporting them on their way to becoming the category-defining, global leader in decision intelligence.”
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