March 27, 2017 / 8:00 AM / 5 months ago

Peakon raises 6.1 mln euro in funding round led by EQT Ventures

STOCKHOLM, March 27 (Reuters) - Peakon, a provider of employee engagement and people analytics software, has completed a 6.1 million euro ($6.62 million) funding round led by EQT Ventures, the venture capital arm of Swedish private equity giant EQT, the company said on Monday.

* Peakon, founded in 2014, will use the money primarily to triple staff to over 100 people over the next 12 months, expanding its teams in machine learning, data-science, and engineering.

* “AI is tipped as one of the key tech sectors for investors this year, and the team have had an impressive start, demonstrating strong revenue growth and product adoption," said Lars Jornow, managing partner at EQT Ventures.

* Other investors in the round were existing owners IDInvest and Sunstone, as well as angel investor Tommy Ahlers.

* The company counts publisher Trinity Mirror and Delivery Hero among its clients.

* It has offices in Copenhagen and London, as well as in Raleigh in the United States.

* Peakon offers a product where the collection of employee feedback is automated and analysed using machine learning techniques to generate insights to improve the clients business

* The funding brings Peakon's total capital raised over the past year to 10.1 million euro.

$1 = 0.9221 euros Reporting by Johannes Hellstrom; editing by Niklas Pollard

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