Telecommunications and internet group SoftBank led a $75m series C round into UK-based artificial intelligence (AI) company Peak yesterday, investing through its Vision Fund 2.
MMC Ventures, Oxx, Praetura Ventures, Arete and Octopus Ventures filled out the list of participants.
Peak develops a full-stack AI-powered decision-making software, called Decision Intelligence, for enterprises to boost efficiencies across sales, marketing, demand management and supply chains.
The funding will go towards continued R&D on the Decision Intelligence software. The company will also expand its team and geographical footprint.
Peak has now raised $119m altogether, it said. It closed a $21m series B in February 2021, led by Oxx and featuring MMC Ventures, Praetura Ventures and Arete.
The company closed a $12m series A round in April 2020 following an extension co-led by MMC and Praetura. The former had supplied an initial $3.3m series A tranche in September 2017.
Praetura joined forces with a group of angel investors in July 2016 to supply $1.3m in funding.
Richard Potter, chief executive and co-founder of Peak, said: “No other software company offers a platform like Peak. We uniquely simplify the task of data scientists and engineers, who use Peak to rapidly create and deploy AI applications to business users.
“These applications empower day-to-day decision-makers across businesses to achieve transformational gains.
“We are delighted to welcome SoftBank as our new lead investor. The funding will help us empower many more businesses with Decision Intelligence over the coming years. It will further catalyse our growth and global expansion plans.”
