Peak, a UK-based startup offering AI-enabled software to corporations in different domains such as manufacturing, consumer goods, and retail, has bagged US$ 75 million in a Series C funding round led by Softbank Vision Fund on 31 August 2021.
Investors: The latest investment round featured Softbank Vision Fund as the lead investor with participation from Praetura Ventures, Oxx, Octopus Ventures, MMC Ventures, and Arete Ventures. The startup has managed to raise, in total, US$ 117.7 million to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the funding round towards propelling its expansion goals of setting up new offices in India and the U.S and extending R&D investment in its decision intelligence interface.
About Peak
Brought to existence in 2014 by David Leitch, and Richard Potter, Peak pioneers the domain dealing with the commercialization of AI to enhance work performance. Its software enables corporations to realize their full potential, earn higher revenues and profits. It allows enterprises to make better decisions by implementing AI across their marketing, supply chain, demand management, and sales, irrespective of their AI potential. In the last year, its offering has witnessed a surge in demand, doubling its revenues due to a more extensive customer base in the Middle East, India, the U.S, and Europe. The firm’s most prominent clients include Superdry, KFC, PepsiCo, Nike, CJ Group, and PrettyLittleThing.
What the Co-Founder has to say: “It is elating to join hands with SoftBank and few of the largest corporations worldwide. Today’s enterprises are complicated and run in a dynamic atmosphere, which has made AI an imperative choice. AI permits them to constantly make significant decisions in a rapid, precise, and unprecedented manner. Peak innovatively narrows down the activities of its professional users, who employ Peak to structure and facilitate AI applications to business clients in an accelerated way.”- Richard Potter, Co-Founder and CEO of Peak.
What the Investor has to say: “Our vision that the new-generation businesses would operate on a centralized AI software marketplace, which has the potential to enrich complete value chains aligns perfectly with that of Peak’s. A unique platform is required to meet our vision, and it is breathtaking to observe what Peak’s leadership team and other proficient members have developed. It is exhilarating to offer financial assistance to Peak in its growth journey to become the standard solution and an international leader in decision intelligence.”- Max Ohrstrand, Senior Investor for SoftBank Investment Advisers.
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