Peak secures £2.5m in Series A funding led by MMC Ventures
MMC Ventures leads the Series A round to support ongoing technology development and sales growth at the data analytics firm.
Peak provides a data analytics platform that combines machine learning and artificial intelligence to help businesses drive growth.
Manchester data analytics company Peak has secured £2.5m in Series A funding led by London-based venture capital firm MMC Ventures. The latest capital injection brings the company total funding to £3.5m following a previous seed round backed by Praetura Capital.
Peak plans to deploy the fresh capital to fund ongoing investment in its machine learning and AI technologies while further accelerating sales growth and expanding its team. Founded by Richard Potter, Atul Sharma and David Leitch, the firm delivers a subscription-based data analytics service used by clients such as The Economist, Morrisons and AstraZeneca.
MMC Ventures joins the company's cap table as part of the round, bringing expertise in scaling business-to-business software companies. Praetura Capital, an existing backer, also participated in the financing.
From the founder
"We have seen incredible traction since launching our service in 2016,"
Richard Potter
Co-founder and CEO at Peak
Investor perspective
"We believe that intelligent use of data will unlock huge value for companies over the next few years, and AI will be at the core of that value release. But AI is a noisy space and cutting through that noise to find providers who can really deliver measurable value for their customers is hard. That is what Peak’s platform does, and we are excited to be backing Richard, Atul and Dave’s vision for the future."
Jon Coker
Managing partner, MMC
Use of funds
- 01Fund research and development
- 02Invest in sales and marketing
