As artificial intelligence (AI) becomes more adopted in different types of businesses, many non-tech business owners are looking for ways to integrate technology into their businesses. Peak is a tech startup that helps non-tech companies build and use their own AI. The company recently announced the closing of its Series C funding round to expand its business internationally.
How Peak Works and the Rapid Growth of Services
Tech startup Peak is unique from other business models that use AI. The company focuses on industries outside the tech world, including retail, manufacturing and shipping, and consumer packaged goods. Peak helps customers through its “Connected Decision Intelligence” system that is automatically integrated with the software and tools currently used by a business. From there, the AI software processes all the available data to find areas for improvement or ways to save money.
The AI company works to improve the return on investment (ROI) of sales and marketing by targeting specific demographics and individuals who are more likely to buy from a specific business. Additionally, the tech startup offers straightforward business plans that include long-term forecasting, inventory purchases, and methods to reduce waste while maximizing profits.
Peak uses its AI to help companies optimize their supply chain, increase overall efficiency, and lower costs without having to review current operations.
The tech startup has experienced significant success. Peak AI solutions are used by several major brands and companies in consumer or retail businesses. The company now provides its decision intelligence solution connected to names like KFC, Nike, Pepsico, Superdry, and Marshalls, among others.
The surge in new customers for Peak has helped the company more than double its revenue in the last 12 months. Rapid revenue growth and high-end clients has piqued the interest of many investors who see significant potential in AI services in the future.
Maximum funding and plans for continued growth
In its Series C funding round, Peak raised $ 75 million in equity. The financing round was led by Softbank Vision Fund 2 with the participation of Oxx, MMC Ventures, Praetura Ventures and Arete. The start-up company has now raised a total of $ 118 million.
Peak plans to use the newly raised capital to invest heavily in its own AI software. The money will also be spent on research and development, as the tech startup plans to increase the number of solutions it offers. Peak expects to hire more than 200 new employees at its international offices in the United States (US), United Kingdom (UK) and India in the next 12 months.
Commenting on the latest round of funding for Peak, Softbank Investment Advisors senior investor Max Ohrstrand said: “At Peak we have a partner with a shared vision that the future company will run on a capable centralized AI software platform. optimizing entire value chains. To realize this, a new generation of platforms is needed and we are very impressed with what Richard and the excellent team have built at Peak. We are delighted to support them on their journey to become the global leader. that defines the category in Decision Intelligence “.
