Oxx leads $21m series-B for Peak

The firm is currently investing from its debut fund, which closed on $133m in February 2020. The vehicle provides funding rounds of $5-20m with an average equity ticket of $10-12m.

The funding round was oversubscribed, according to a statement, and saw participation from MMC Ventures, Praetura Ventures and Arete.

This latest funding will go towards global expansion, with new offices opening in both the US and India, as well as continued R&D investment in Peak's software. Peak is also planning to create 130 new jobs globally in the coming year.

As part of the round, Oxx's Richard Anton will join the board.

Previous funding
In 2016, the company received £1m in seed funding from Praetura, a Manchester-based VC investor, to launch its subscription-based data analytics service. It then opened development centres in Manchester and Jaipur, India.

MMC Ventures led a £2.5m series-A round for Peak in September 2017.

In June 2018, Peak raised £1.5m from existing investors MMC and Praetura.

Peak raised $12m in its extended series-A funding round led by MMC and Praetura in April 2020.

Company
Peak's software is intended to enable companies across sectors including retail, consumer goods and manufacturing to embed artificial intelligence into the core of their decision-making and operations. Founded in 2014, Peak is based in London. 

People
Oxx – Richard Anton (general partner).
MMC Ventures – Ollie Richards (partner).

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