We’re at the dawn of the AI eraBy Richard Potter on April 23, 2020
Today we're delighted to announce that Peak has raised an additional $12 million in equity financing, in an extension to our series A funding round from MMC Ventures and Praetura Ventures.
Instead of trooping out the classic line that the funds will be used to invest in R&D, talent and commercial growth (hint: of course they will!), here’s what we’re up to behind the curtain at Peak…
Firstly, we wanted to ensure the business was on a strong footing going into 2020, even before the tragic spread of coronavirus. From a financing perspective, this meant having the capital to fuel our growth plans and the R&D investments we are making in our AI System and core technologies. Now, more than ever, I’m glad we did that.
Secondly, and perhaps more importantly, the very heart of Peak’s mission is to help all businesses do great things with data. Practically this means being able to compete in the AI era; to transform and embrace the potential that data and AI brings. That potential is huge, as our work has shown over the years, with many of our customers achieving significant increases in revenue growth and profit margins. Making that shift, however, is hard. For many businesses, it is unattainable.
Yet our mission means enabling every company to be great in the AI era. That’s why we’re continuing to invest in both our technology and our team; to make AI accessible such that our customers can make the leap to becoming AI companies themselves.
Our AI System is already at the forefront of a brand new market for enterprise AI systems and is developing at a rapid pace. Over the coming months you’ll continue to see more new product releases and new features added thanks to the continued hard work of our team and the amazing feedback we’re getting from our customers.
I wanted to take this opportunity to say a huge thank you to our customers, and our team, our investors, our partners and everyone connected to the Peak team. It’s great to be on this journey with you.
Take care and stay safe.
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