Artificial Intelligence (AI) company Peak has raised $21 million in Series B funding round led by venture capital firm Oxx, with participation from existing investors MMC Ventures and Praetura Ventures, and new investor Arete.
Peak raised $43 million to date.
Peak is planning to create 130 new jobs globally in the coming year.
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.
Peak has seen rapid growth over the past 12 months with revenues doubling thanks to new customer wins in Europe, the USA, Middle East, and India.
This latest funding will fuel an ambitious global expansion to meet strong demand, with new offices opening in both the USA and India, as well as continued R&D investment in Peak’s Decision Intelligence software.