14. September 2021
We have advised Artificial Intelligence (AI) company Peak on its Series C funding, which raised $75 million.
This is the second round of funding for Peak in 2021, after completing a $21 million round of Series B funding in February, also advised by Taylor Wessing.
In total the company has raised $119 million, with SoftBank Vision Fund 2 leading Series C, supported by existing investors MMC Ventures, Oxx, Praetura Ventures, Arete and Octopus Ventures.
Our Corporate technology and Life sciences Partner Howard Palmer led the legal team advising on the deal with support from Senior Associate Elinor Picton and Associate Loye Oyedotun.
He said: "Peak is a truly market leading company with a software platform like no other. Their approach to AI makes this technology accessible and transformative for customers. As the legal team supporting them, we are very proud to see them grow and continue to fulfil their vision."
Peak's software enables clients to embed AI into the core of their decision making and operations, optimizing business performance, boosting operational efficiency and helping to grow revenue and profits.
Commenting on the deal Peak's CEO, Richard Potter, said: "Funding rounds are both exciting and busy times for a company. We therefore value highly the legal guidance received from the Taylor Wessing team, who have consistently provided us with great service throughout our most recent funding rounds."
Peak is working to make AI accessible to more businesses, with strong demand for their platform over the past 12 months growing across the globe.
It’s already used by retailers, CPG, direct-to-consumer and manufacturing businesses, with a plan to continue global growth following this investment with further offices and more research and development.