Fund manager: Oxx
Manchester-based Peak’s ‘Decision Intelligence’ software platform enables companies to embed AI into the core of their decision-making and operations, helping them to boost operational efficiency, grow revenues and increase profits.
Previously, such technology was only accessible to a select few global corporates. With Peak, businesses of all sizes can use AI to assist their decision-making process across sales, marketing, demand management, and supply chains. Examples from users of the platform include a 5% increase in total revenues, a doubling of return on advertising spend, a 12% reduction in inventory holdings and a 5% reduction in supply chain costs.
Peak’s customers operate in retail, consumer-packaged goods, direct-to-consumer and manufacturing. Since it was founded in 2015, the company has seen strong demand across the world, with revenues more than doubling due to expansion in Europe, the USA, the Middle East, and India.
Oxx, a British Patient Capital fund manager, led Peak’s Series B funding round in February 2021 and continued its support for the business by investing in its Series C funding round just a few months later in August 2021.
The funding is being used to support Peak’s global expansion, with new offices opening in both the USA and India, as well as increasing R&D investment in Peak’s Decision Intelligence software.