Peak Raises $12m

Peak.AI, a startup developing AI solutions for enterprise customers, today announced that it has raised $12 million in extended series A funding. The fresh capital will fuel Peak’s growth, commercial expansion, and R&D, according to CEO Richard Potter, and will come as up to 25% of companies report experiencing a 50% failure rate in deploying AI models.

Despite the promise of AI, the corporate sector’s adoption curve hasn’t been as steep as some had predicted. A survey of publicly traded U.S. retailers’ earnings calls found that only nine of about 50 companies had started to discuss an AI strategy, and a separate study — from Genesys — found that 68% of workers aren’t yet using tools that leverage AI.

Peak aims to simplify implementation with a subscription-based software-as-a-service offering that spans infrastructure, data processing, workflow, and applications. Its customers — brands like Pepsi and Marshalls — supply their data, which Peak’s platform ingests through built-in connectors to accomplish things like optimizing supply and demand and supporting fulfillment processes, courtesy of a library of configurable AI engines.

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