Monday, July 22, 2024
HomeFunding CA-based PeakMetrics Secures $3Million in Seed Funding

[Funding alert] CA-based PeakMetrics Secures $3Million in Seed Funding

CA-based PeakMetrics secures $3million in seed funding. The round was led by York IE, with follow-on investment from Argon Ventures and participation from Parameter Ventures and CEAS Investments. PeakMetrics has now raised $5.7 million to date.

CA-based PeakMetrics secures $3million in seed funding. The round was led by York IE, with follow-on investment from Argon Ventures and participation from Parameter Ventures and CEAS Investments. PeakMetrics has now raised $5.7 million to date.

Nick Loui, co-founder and CEO, PeakMetrics “PeakMetrics is changing the way enterprises and governments navigate this age of information chaos, Our state-of-the-art platform gives organizations the means to discern source credibility, understand how audiences spread narratives, and quantify risk and response scenarios – without spending millions on crisis communication and manual sentiment analysis.”

This funding will allow it to meet the rapidly growing demand for proactive narrative intelligence tools; 2023 proved to be a year of substantial growth, as the company quintupled its recurring revenue (a 5x increase).

The seed round will support an expansion of its’ go-to-market function, and allow the team to deepen its product capabilities, especially for its commercial clients. Organizations are finding an increasing need to identify and combat emerging online threats to protect their brand, reputation, and people.

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A survey from PR consultancy firm Edelman revealed that 46% of CMOs and CCOs say their organization has been affected by online and social media attacks. Misinformation costs organizations an estimated $78 billion per year, per a report from ad cybersecurity firm CHEQ.

As AI continues to advance, creating and spreading harmful online narratives has become significantly easier – and the rising business of “disinformation for hire” only adds to this concern.

Using proprietary narrative ML technology, PeakMetrics analyzes more than 1.5 million media sources and 10 different social media platforms to identify media manipulation and adversarial attacks in real-time, before they cause damage.

Read also – CO-based Vescent Secures $5Million in Seed Funding

Joe Raczka, Chief Investment Officer and Managing Partner, York IE, and a new addition to the PeakMetrics board of directors said, Protecting your brand, reputation, and people can no longer be a reactive exercise,”“PeakMetrics is using novel ML tactics to help companies and government organizations anticipate threats in real-time, so they’re not caught flat-footed. It’s an especially powerful technology in the current dynamic information landscape.”

Loui co-founded PeakMetrics with COO Bobby Lincoln, a former high school classmate, in 2020. The pair had previously worked together at Vixlet, a software company that they helped grow from 1st hire to 80+ employees and $70M+ raised.

PeakMetrics has helped some of the world’s most recognizable organizations navigate various viral trends, reputational crises, and world events: the 2020 election, the U.S. military’s withdrawal from Afghanistan, customer backlash within the banking, ticket sales, and airline industries, and more.

Bob Mason, co-founder and Managing Partner, Argon Ventures said, “Our investment in PeakMetrics is founded in our belief that organizations and corporations across all sectors need to proactively identify and respond to emerging social media trends and narrative threats, The PeakMetrics platform is setting a new standard for how organizations navigate the ever-evolving digital narrative landscape.”

About PeakMetrics

PeakMetrics provides a narrative intelligence platform that helps enterprises and governments identify and combat emerging online narrative threats. Using state-of-the-art ML technology, it analyzes more than 1.5 million media sources and 10 different social media platforms to identify media manipulation and adversarial attacks in real-time, before they cause damage.

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