We have advised artificial intelligence (AI) company Peak on its $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. This brings Peak’s total funding raised to date to $43 million.
Peak’s software enables companies across sectors including retail, consumer goods and manufacturing to embed AI into the core of their decision making and operations. Peak has seen rapid growth over the past 12 months with revenues doubling thanks to new customer wins in Europe, the USA, Middle East, and India.
Commenting on the deal, Corporate Technology Partner Howard Palmer, said: "This financing will further catalyse Peak's growth and expansion, and will empower many more businesses worldwide with day-to-day decision making. We look forward to much more collaboration in the future as Peak enters the next phase of its life."
Richard Potter, co-founder and CEO at Peak, said: "It’s becoming impossible to run a business without AI. AI enables businesses to make consistently great decisions, faster and more accurately than ever before."
The team was led by Corporate Technology Partner Howard Palmer, with support from Associates Joshua Gertner and Elinor Picton.