Peak, a data analytics company based in Manchester, has raised £2.5 million in a Series A round led by MMC Ventures.

Peak provides data analytics-as-a-service and will invest the new funds in machine learning and AI to accelerate its sales growth. It has also opened a development centre in India to complement its Manchester operations.

Peak was cofounded by Richard Potter, Atul Sharma, and David Leitch.

“We have seen incredible traction since launching our service in 2016,” said Richard Potter, CEO of Peak. “Our subscription revenues are growing in-line with the fastest growing global tech businesses, which demonstrates just how strong the demand for machine learning and AI technologies is in businesses across the spectrum.”

“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,” added Jon Coker, manager partner at MMC Ventures. “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.”

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