AI startup Peak secured $21 million in Series B funding round

Peak, a United Kingdom-based Artificial Intelligence company, has now secured $21 million in a Series B funding round.

Peak is founded by Richard Potter. It offers a software platform helping companies across the different sectors to embed AI into the core of their decision-making and operations.

Richard Anton, General Partner at Oxx, said, "Richard and the excellent Peak team have a compelling vision to optimize entire businesses through Decision Intelligence and they're delivering real-world benefits to a raft of household name customers already. The pandemic has meant digitization is no longer a choice; it’s a requirement. Peak has made it easier for businesses to get started and see rapid results from AI-enabled decision making. We are delighted to support Peak on their way to becoming the category-defining global leader in Decision Intelligence."

Ollie Richards, Partner at MMC Ventures, said, "The opportunity for Peak to lead the Decision Intelligence category cannot be overstated. It has been a privilege to support the team and work with Richard over the last few years, and the company continues to generate impressive growth metrics, fantastic customer adoption while building out a world-class team."

The round, which brings the total funding secured to date to $43 million, was backed by the Oxx, with participation from Arete, Praetura Ventures, and MMC Ventures. Post funding, Richard Anton, the managing director at Oxx will join the Board of Directors team, notes the announcement.

The company as of now has plans to use the new funds to accelerate global expansion with new offices opening in both India and the USA. The company also intends to invest further into Research & Development.