Peak AI: From Manchester Startup to UiPath Acquisition
The journey of Peak represents a rapid ascent in the world of enterprise artificial intelligence. Founded by CEO Richard Potter, David Leitch, and Atul Sharma, the company set out to make artificial intelligence (AI)—the simulation of human intelligence by machines—accessible to businesses that lack deep technical expertise.
The Early Years and Rapid Growth
Peak first gained significant attention in 2015 when it emerged as one of the winners of the Tech North Northern Stars competition. This early recognition paved the way for a period of aggressive technological development and market validation.
By 2017, the company secured £2.5 million in Series A capital funding from MMC Ventures. This investment was specifically earmarked for advancements in machine learning—a subset of AI that allows systems to learn from data and improve performance without being explicitly programmed—and general AI technologies. During this time, Wired magazine recognized Peak as one of the top five startups in Manchester.
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Strategic Partnerships and Scaling
As the company matured, it began integrating its technology into high-profile environments. In 2018, Peak was selected to collaborate with the Arsenal F.C. Innovation Lab. Simultaneously, it was named one of the 37 fastest-growing technology companies in the UK, earning a spot in the Tech City UK Upscale programme.
The onset of 2020 saw a push for commercial expansion. In April 2020, the company raised $12 million in extended Series A funding to support its research and development (R&D) efforts and sustain its growth trajectory.
Major Funding Rounds and Global Expansion
The company's valuation and reach expanded significantly through 2021. In February, Peak announced a $21 million Series B funding round led by Oxx, Praetura Ventures, MMC Ventures, and Arete. The primary goal of this round was to further democratize AI for non-tech companies.
This momentum culminated in August 2021 with a $75 million Series C funding round, led by the SoftBank Vision Fund 2, signaling Peak's transition into a major global player in the AI space.
The Final Chapter: Acquisition by UiPath
After a decade of scaling and innovation, Peak reached a major milestone in March 2025. The company was acquired by UiPath, a leading global software company specializing in robotic process automation and AI.
Key Facts
- Founders: Richard Potter (CEO), David Leitch, and Atul Sharma.
- Key Accolades: Winner of Tech North Northern Stars (2015) and top five Manchester startup by Wired (2017).
- Notable Partnerships: Arsenal F.C. Innovation Lab and Tech City UK Upscale programme.
- Major Investors: MMC Ventures, Oxx, Praetura Ventures, Arete, and SoftBank Vision Fund 2.
- Exit: Acquired by UiPath in March 2025.
| Year | Event/Funding Round | Amount/Detail |
|---|---|---|
| 2015 | Tech North Northern Stars | Competition Winner |
| 2017 | Series A | £2.5 million |
| 2020 | Extended Series A | $12 million |
| 2021 (Feb) | Series B | $21 million |
| 2021 (Aug) | Series C | $75 million |
| 2025 | Acquisition | Acquired by UiPath |
Frequently Asked Questions
Who founded Peak?
Peak was founded by CEO Richard Potter, David Leitch, and Atul Sharma.
Which major investment fund led Peak's Series C round?
The Series C funding round, totaling $75 million, was led by the SoftBank Vision Fund 2 in August 2021.
What was the purpose of the Series B funding?
The $21 million Series B round was intended to make artificial intelligence more accessible to companies that are not primarily technology-focused.
When was Peak acquired and by whom?
Peak was acquired by the global software company UiPath in March 2025.
Did Peak work with any sports organizations?
Yes, in 2018, Peak was chosen to work as part of the Arsenal F.C. Innovation Lab.