Druid Secures $30M in Series B Funding for Its Conversational AI Platform

Company Name: Druid
Location: Bucharest, Romania
Business Focus: Conversational AI technology
Funding Details: $30M in Series B funding, spearheaded by TQ Ventures. The funding round also saw participation from new investors such as Smedvig Capital, Endeavor, and Verve Ventures. Furthermore, existing investors GapMinder, Hoxton Ventures, and Karma Ventures continued their support.

Purpose of Funding: Druid plans to use the raised capital to bolster its international expansion, with a keen emphasis on increasing its presence in the US market—a region which presently contributes to 60% of the company's total revenue.

Background: Founded in 2018 under the leadership of CEO Liviu Dragan, Druid has made significant strides in the conversational AI arena. Within a relatively short span, the company has successfully fostered a partnership network comprising 160+ partners. They currently service 200+ clients globally, some of which are industry giants like Kmart, Liberty Global, Texas Children’s Hospital, White Castle, NHS, Auchan, Georgia Southern University, Société Générale, Erste Group, BNP Paribas, Axa, and more.

About Company: Druid is a platform specializing in creating, deploying, and scaling AI-driven conversational business applications. These applications are tailored to boost employee productivity while ensuring superior customer experience. Serving as a pivotal front layer for all digital operations, Druid's solution streamlines the existing tech infrastructure and reduces app fatigue. Its smart virtual assistants, equipped to engage with various organizational dialects, facilitate interactions through integrations with existing enterprise systems and RPA technologies. A noteworthy advancement is Druid's recent integration with ChatGPT, powered by Microsoft’s Azure OpenAI Service, ushering generative AI into the realm of enterprise-ready and secure platforms.