UiPath looks for a path to growth with Peak agentic AI acquisition

A rush of agentic AI solutions is hitting the enterprise market, and now one of the bigger players in automation has scooped up a startup in the space in hopes of taking a bigger piece of that market. UiPath, as part of its quarterly results report last night, said it had acquired Peak.ai, a startup out of Manchester that builds “decision-making” pricing and inventory management AI solutions for companies in retail and manufacturing. Terms of the deal were not disclosed, but sources familiar with the deal told TechCrunch that Peak.ai was not looking for a buyer, nor was it at the end of its runway, and the deal was paid for in cash. Robert Anton, whose firm Oxx was one of Peak.ai’s backers, said in an interview that he was “very happy” with the outcome. Peak last raised money back in 2021, when SoftBank backed the company with $75 million. PitchBook notes that round had valued the company at around $267 million post-money, on a total of $121 million raised from investors who include ... Read full article.