
Peak Secures USD 12 Million in Series A Round of Financing
Peak has been creating a global market for AI Systems, a new category of enterprise software, to enable mass adoption of AI solutions across industries.
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CIO Applications Europe | Monday, June 15, 2020

Peak has been creating a global market for AI Systems, a new category of enterprise software, to enable mass adoption of AI solutions across industries
Fremont, CA: Enterprise AI Systems company Peak secured USD 12 million in a Series A funding round led by existing investors MMC Ventures and Praetura Ventures. The new investment round takes the company's total raised capital to USD 18.5 million. The proceeds from the financing round will be used to support the company's growth and commercial expansion and to ramp up investment in R&D.
"AI is going to fundamentally change every business in every sector, globally," said Richard Potter, CEO and co-founder at Peak. "It has the power to optimize entire business models, in real-time, and drive both growth and profitability. We believe that AI is so crucial to the future of the enterprise that it demands its own central business system. Just like every business needs an ERP or CRM system, every business now needs an AI System to compete in the modern era."
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Peak has been creating a global market for AI Systems, a new category of enterprise software, to enable mass adoption of AI solutions across industries. The era of AI is believed to be the fourth industrial revolution, and according to market research firm IDC, spending on AI Systems is expected to reach USD 97.9 billion in 2023.
"AI must be at the heart of any company's operating model going forward, it's their competitive lifeblood," added Potter. "We're seeing strong adoption of our AI System across multiple verticals, and a growing number of the world's top global brands are now users of Peak. These are all forward-thinking businesses that recognize the huge opportunity presented to them by AI, and we're proud that they've chosen to run on Peak to realize that potential."
Peak is a full-stack enterprise AI System that combines the required infrastructure, data processing, AI workflow, and applications in a single SaaS product. The company's approach eliminates much of the complexity in enterprise AI rollouts, reducing the number of separate software applications required to deploy AI from seven to just one. "Having witnessed the impressive market traction and ongoing adoption of the Peak AI System, we're delighted to be further supporting the team on their journey," said Oliver Richards, Partner at MMC Ventures. "We have been particularly impressed by the real, tangible business outcomes being realized by Peak customers and the way in which Richard, Atul, and Dave are building a world-class team."
See also: Top Artificial Intelligence Companies
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