Europe

DRUID Raises $ 15 Million in Series A Round – Romanian Journal

Get real-time updates directly on your device and subscribe now.

DRUID, an end-to-end platform for building AI-driven conversational business applications, has announced new funding. This new $ 15 million round will be used to drive international expansion by actively recruiting new talent and to support accelerated growth in Europe and North America. In addition, DRUID extends technical leadership by adding new features to conversational AI products and constantly evolving user experience promises.

The current funding round was led by Karma Ventures and Hoxton Ventures, with GapMinder consolidating positions from the previous round and four other investors from Germany, Switzerland, Poland and Romania.

As mobility and digitization become ubiquitous in people’s daily lives, the industry as a whole is driving towards digital transformation and ensuring the consumer centricity needed for future prosperity. The new business environment that has emerged over the last two years has led to the rapid acceptance and growing need for intelligent virtual assistants powered by AI. DRUID’s AI-driven conversational business applications enable enterprises to improve the user experience for both customers and employees. The company provides businesses with unique conversational capabilities, enabling intuitive, natural and frictionless digital interactions.

“New funding will be used to strengthen our global reach and ambitious international goals. DRUID is a digital transformation of the organization in line with the vision of providing virtual assistants to all employees. A global leader in AI-driven, conversational business applications that help deliver the agenda of. By leveraging a market-validated platform, our goal is to reach companies around the world with DRUID solutions. Empowering, ensuring customer loyalty, and increasing employee retention for companies of all sizes. Going beyond the current general constraints of conversational solutions, a new category of products, conversational business. Create an application (CBA), which enables AI to successfully drive complex processes and enable people to achieve better business results. “, Druid CEO Liviu Drăgan said.

The current investment is aimed at paving the way for future progress, following the year following the rapid growth of DRUID. DRUID reached 3.8 times the annual recurring revenue (ARR) growth rate at the end of December 2021 compared to 2020, and already grew 2.8 times at the end of the first quarter of 2022 compared to the same period last year. Achieved. The new funds will be used to accelerate the company’s international expansion and footprint and increase the diversity of its platform. DRUID plans to open new offices in France and Germany by the end of 2022 to strengthen its existing presence in the United Kingdom and the United States. Human capital is also an important aspect in achieving the required expansion. Therefore, the company plans to make recruitment a strategic priority this year and increase its global team by 60%.

“DRUID is the first investment in Romania. UiPath is informing the world of the great potential of Romania’s technology ecosystem and has the opportunity to collaborate with Liviu Dragan and his team at another fast-growing software company. I’m glad I got it. “Kristjan Laannemaa, founding partner of KarmaVC, said.

“At Hoxton, we are supporting a globally expanding European business. We are excited about the growth of DRUID in the United States and are confident that this new funding will make DRUID a category leader in conversational business applications. doing.”Said Hussein Kanji, a partner at Hoxton Ventures.

DRUID has grown very rapidly since its launch, thanks to an innovative AI-driven conversational chatbot platform, the talent of teams to grow rapidly internationally to build ecosystems, and the transformation into a conversational business application platform. bottom. GapMinder’s subsequent participation in this funding round reaffirms our confidence in the DRUID team and our vision of providing intelligent virtual assistants to each employee. We continue to support DRUID and support the company’s plans for international expansion and integration. “, Dan Mihăescu, the founding partner of GapMinder BV, has been added.

Since 2019, DRUID has added conversation skills to the world’s first hyper-automation platform through a global partnership with UiPath, the first company to provide voice to RPA robots and market leader in robotic business process automation. To further develop this journey, DRUID will continue to integrate with major RPA technology providers. Strategic connectivity and a global network of over 130 partners enable rapid application of DRUID technology in any country. As a partner-led organization, the purpose of DRUID is to empower partners and meet the benchmark of 1,000 customers servicing worldwide by 2024.

https://www.romaniajournal.ro/business/druid-raises-15-million-in-series-a-financing-round/ DRUID Raises $ 15 Million in Series A Round – Romanian Journal

Back to top button