Narrative intelligence company PeakMetrics announced it has raised $3 million 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. With this funding round, PeakMetrics has raised $5.7 million in total.
The funding round will be used to meet the growing demand for proactive narrative intelligence tools. Last year, PeakMetrics saw substantial growth as it quintupled its recurring revenue (a 5x increase). The seed funding round will support expanding the company’s go-to-market function and allow the team to deepen its product capabilities, especially for commercial clients.
With the 2024 election season in full gear, the election cycle brings an array of news stories and social media conversations. And these news stories and conversations are often filled with misinformation and misleading narratives. So, organizations increasingly need to identify and combat emerging online threats to protect brands, reputations, and people. Misinformation costs organizations tens of billions of dollars every year. Plus, with advances in AI, it has become easier to spread harmful online narratives.
With proprietary narrative ML technology, PeakMetrics analyzes over 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.
PeakMetrics was founded by CEO Nick Loui and COO Bobby Lincoln in 2020. The two of them previously worked together at Vixlet, a software company that they helped grow from the first hire to 80+ employees and over $70 million in funding.
PeakMetrics helped some of the world’s most recognizable organizations work through various viral trends, reputational crises, and world events such as the 2020 election, the U.S. military’s withdrawal from Afghanistan, customer backlash within the banking, ticket sales, and airline industries.
KEY QUOTES:
“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.”
– Nick Loui, co-founder and CEO, PeakMetrics
“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.”
– Joe Raczka, Chief Investment Officer and Managing Partner, York IE, and a new addition to the PeakMetrics board of directors
“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.”
– Bob Mason, co-founder and Managing Partner, Argon Ventures
“Recent advances in generative AI are reshaping the information environment, with far-reaching implications. PeakMetrics is building powerful tools to keep a new breed of threats at bay and define the future of the narrative intelligence category.”
– Dave Krasik, Partner at Parameter Ventures
