– UK, Manchester – Peak, artificial Intelligence company, today announced it has raised a $21 million Series B funding round led by venture capital firm Oxx, with participation from existing investors MMC Ventures and Praetura Ventures, and new investor Arete.
Concurrent with the funding, Richard Anton, General Partner at Oxx have joined the board of directors.
“Richard and the excellent Peak team have a compelling vision to optimize entire businesses through Decision Intelligence and they’re delivering real-world benefits to a raft of household name customers already. The pandemic has meant digitization 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 Peak on their way to becoming the category-defining global leader in Decision Intelligence.” said Richard Anton, General Partner at Oxx.
The total funding raised to date to $43 million.
This latest funding will fuel an ambitious global expansion to meet strong demand, 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, Peak is planning to create 130 new jobs globally in the coming year.
Richard Potter, co-founder, and CEO said: “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.
AI enables businesses to make consistently great decisions, faster and more accurately than ever before. Yet until recently, this power was only in the hands of a select few. 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.
We’re delighted to have secured this new funding in an oversubscribed round. The financing and Oxx’s support will further catalyze our growth and expansion plans, and will help us empower many more businesses worldwide with Decision Intelligence over the coming years.”
Ollie Richards, Partner at MMC Ventures: “The opportunity for Peak to lead the Decision Intelligence category cannot be overstated. It has been a privilege to support the team and work with Richard over the last few years, and the company continues to generate impressive growth metrics, fantastic customer adoption while building out a world-class team.”
For more information: https://peak.ai/
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