Peak Raises $3.3M Series A Funding To Build Platform For Analyzing And Drawing Insights From Any Kind Of Data

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Peak is a pioneering data-analytics-as-a-service company founded in 2014. Since then, Peak has rapidly grown and in 2015, was recognised by Tech North (a government-backed initiative specialising in accelerating the growth of the digital business sector in the North of England) as one of the ‘top tech start-ups in the UK’ winning the organisations’ Northern Stars competition. In 2016, they launched their data analytics service and began to grow their presence in the UK and internationally. The company’s clients include Morrisons, AstraZeneca and The Economist. Below is our interview with Richard Potter, CEO of Peak:

Richard_Potter

Q: You’ve recently announced $3.3 Million in Series A funding round; could you tell us something more?

A: This latest funding round comes just over a year after Peak secured seed investment led by Manchester-based Praetura Capital. We used those funds to commercialise our data analytics-as-a-service offering and to expand our operations; growing the internal team and opening development centres in both Manchester, UK, and Jaipur, India.

This latest injection of capital with MMC brings the total amount raised by the company so far to £3.5m. It will be used to fund the company’s ongoing investment in machine learning and artificial intelligence technologies, and further accelerate sales growth.

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Q: How exactly do you help businesses grow?

A: Since its launch, Peak has worked to build an automated platform for streaming, unifying, analysing and drawing insight from any kind of data, on a huge scale. The process, which is enabled through artificial intelligence and machine learning, was built and continually controlled by the experts within Peak.

To help businesses grow, Peak fits into existing IT infrastructure and is on hand every step of the way to ensure success.

How it works – Peak’s Data Machine:

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Q: What kind of solutions do you offer to your clients?

A: Peak’s offering gives our clients solutions to grow using data they already have. By combining data from existing systems within the business and creating a single, secure stream, the data is input into Peak’s analytics engine. As the data is worked, Peak looks to uncover opportunities for efficiencies and growth, while data is mixed in from other sources to reveal more opportunities too.

Peak’s unique subscription-based approach to analytics means it delivers continuous insight and opportunity, while learning in overtime to find more ways to exploit the data and draw ever more value from it.

All that said, no business is the same. That’s why Peak’s service can be tailored with solutions that target specific growth opportunities for each business.

Q: What are your plans for the future?

A: Our mission is to help everyone do great things with data. Our plan is to help more and more businesses gain access to data analytics, to boost performance and grow revenues, making the required technology and skills much more accessible to everyone. We’re working to speed up Peak’s setup time for customers, using machine learning techniques, so we can provide insights at a much faster rate than our competition.

Currently, Peak’s setup times vary from one week to two months, and we plan to reduce this setup process to just 24hrs. To achieve this, we’ll grow our data science and engineering teams so they can develop our scalable platform. We also have global ambition and are addressing a global opportunity. Therefore, Peak will focus on building a sales and marketing capability that will reach out into global markets.

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