[Funding alert] AI startup Peak secures $75M in Series C round led by SoftBank Vision Fund 2
UK-based artificial intelligence (AI) startup Peak has raised $75 million in Series C round led by SoftBank Vision Fund 2, with participation from existing investors, including MMC Ventures, Oxx, Praetura Ventures, Arete, and Octopus Ventures. This brings Peak’s total funding raised till date to $119 million.
Peak helps businesses make better decisions with the help of AI across their sales, marketing, demand management, and supply chains, regardless of their AI maturity and capability. Peak’s software platform enables companies to embed AI into the core of their decision making and operations.
This commercial application of AI to optimise business performance is known as Decision Intelligence; enabling companies to boost operational efficiency, grow revenues and profits.
By making AI accessible to more businesses, Peak has seen strong demand for its Decision Intelligence platform over the past 12 months, with revenues more than double with new customers in Europe, the USA, Middle East, and India.
This latest funding will fuel an ambitious 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, stated the startup.
As a result, Peak is planning to create more than 200 new jobs globally in the coming year.
Commenting on the new development, Atul Sharma, co-founder and CTO at Peak, stated,
“We will use the capital to deepen our tech expertise in product development, in building out our platform, and to strengthen teams across functions to deliver more features and functionality at pace."
"We have plans to more than double our product, engineering, and data science talent capability in our Jaipur and Pune clubhouses in the next six months. Moreover, we will be focusing on developing a world-class clubhouse and training facility for our teams.”
Further adding, Richard Potter, Co-founder and CEO at Peak, said, “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 added.
“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 catalyze our growth and global expansion plans.”
“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 the 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,” added Max Ohrstrand, Senior Investor for SoftBank Investment Advisers.