Peak, an enterprise AI System, announced a $12 million extended Series A funding round led by existing investors MMC Ventures and Praetura Ventures.
The extended funding round brings Peak’s total funding to date to $18.5 million. The company plans to use the new funds for commercial expansion and investments in R&D.
According to market research firm IDC, the AI era is the fourth industrial revolution, spending on AI systems will reach $97.9 billion in 2023.
Peak develops a full-stack enterprise AI System that combines the required infrastructure, data processing, AI workflow and applications in a single SaaS product. Using Peak, organizations can rapidly deploy AI solutions using data sets from across the enterprise, while integrating those solutions into all other business systems to automate action and optimization in real-time – delivering staggering returns.
Peak is used by brands across most industries, including retail, CPG, direct-to-consumer, construction, and supply chain management.
“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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