Funds for AI-based Customer Understanding Firm Peak

Peak, which uses artificial intelligence to understand customers and automatically predict what they want, has raised $12m in an extended Series A round of investment. Funds will be used to support growth, for commercial expansion, and to ramp up investment in R&D.

Manchester, UK-based Peak, which is led by CEO Richard Potter (pictured), helps businesses 'make the leap' to becoming an AI company, and removes or greatly reduces the need to build in-house teams of data scientists, data engineers and 'AIOps'. For some clients, the firm imports client data into its AI system, then drills down to provide a predictive customer view, and uses AI and machine learning-powered algorithms to draw insights based on the past transactional and behaviour data of each customer. Its Customer Segmentation model can be used to create data-driven segments based on customer value, in order to enable in-market predictions, lifetime value, churn risk, brand and style preferences, and recommendations.

The funding extension was led by existing investors MMC Ventures and Praetura Ventures, and brings total funding to date to $18.5m. Mike Fletcher, Group CEO at Praetura Ventures, comments: 'Richard and the team are spearheading the mass-market adoption of AI in the enterprise and have built an amazing customer roster of leading global brands. We're delighted to be doubling down on our investment as Peak continues to pioneer the enterprise AI system category'.

Web site: www.peak.ai .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.