Peak rasies $21m Series B funding to make AI accessible to all businesses
Sophisticated AI-enabled decision-making was previously only available to a handful of companies. Peak’s Decision Intelligence software levels the tech playing field, enabling a broader range of companies to adopt AI to drive commercial performance across sectors including retail, consumer goods, and manufacturing.
We're delighted to support Richard and the Peak team again alongside Praetura and new investors, Oxx. AI adoption in businesses saw a rapid acceleration in 2020 as companies looked for new ways to boost sales and maximize profits. This is especially true for the many firms prioritizing digital transformation in the wake of evolving consumer demands, the continued e-commerce boom and the global pandemic.
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. This commercial application of AI to optimize business performance is something Peak calls Decision Intelligence.
“It’s becoming impossible to run a business without AI. Modern businesses are complex and operate in an ever-changing world. Making critical decisions without AI would be like driving a Formula 1 car while wearing a blindfold. Said Richard Potter, co-founder and CEO at Peak AI enables businesses to make consistently great decisions, faster and more accurately than ever before. Yet until recently this power was only in the hands of a select few. Our software empowers day-to-day decision makers across businesses, and we’re proud to be working with household names such as PrettyLittleThing, KFC, and PepsiCo, as well as industry leaders like Marshalls and Speedy Hire ”
With a mission to enable businesses to do great things with their data, Peak’s customers have seen transformational results, including examples such as a 5% increase in total company revenues, a doubling of return on advertising spend, a 12% reduction in inventory holdings, and a 5% reduction in supply chain costs.
These gains are adding millions to the top and bottom line of companies using Peak’s Decision Intelligence software.
“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. ”Ollie Richards, Partner, MMC Ventures