MMC leads $12m funding for Peak, the enterprise AI System provider
MMC are excited to announce that Peak, the AI-driven data analytics provider, has raised another $12m in a Series A extension round led by MMC and other existing investors. The new investment brings Peak’s total funding to $18m. MMC firstbacked the company in 2017.
Peak helps businesses use AI technologies to grow revenues and profits through a subscription-based service. Its model helps companies of all sizes use data, machine learning and AI technologies to drive growth. Current customers include the likes of PepsiCo, ASOS and boohoo Group. Peak’s AI-powered results have delivered benefits ranging froma 28% uplift in marketing revenues and a 147 tonne reduction in CO2 emissions.
Richard Potter, CEO and Co-Founder, said:“AI must be at the heart of any company’s operating model going forward, it’s their competitive lifeblood. We’re seeing strong adoption of our AI System across multiple verticals and a growing number of the world’s top global brands are now users of Peak. These are all forward-thinking businesses that recognise the huge opportunity presented.”
Oliver Richards, MMC Partner, said: “Having witnessed the impressive market traction and ongoing adoption of the Peak AI System we’re delighted to be further supporting the team on their journey. We have been particularly impressed by the real, tangible business outcomes being realised by Peak customers and the way in which Richard, Atul and Dave are building a world class team.”
The additional funding will be used to support Peak’s rapid growth and commercial expansion and to ramp up investment in R&D.