Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

DRUID Secures $30 Million as part of Series B Round to Enhance Enterprise Productivity Through Conversational Business Applications and Generative AI


News provided by

DRUID

12 Sep, 2023, 13:00 GMT

Share this article

Share toX

Share this article

Share toX

BUCHAREST, Romania, Sept. 12, 2023 /PRNewswire/ -- DRUID, a global leader in conversational AI technology, announced today its successful $30 million Series B led by TQ Ventures, with participation from new investors Smedvig Capital, Endeavor, and Verve Ventures, and existing investors GapMinder, Hoxton Ventures and Karma Ventures. 

The funding will be used to continue accelerating DRUID's international expansion, particularly its footprint in the US market, which already accounts for 60% of DRUID's current revenue.

Continue Reading
This image opens in the lightbox
DRUID Secures $30 Million as part of Series B Round to Enhance Enterprise Productivity Through Conversational Business Applications and Generative AI

DRUID Secures $30 Million as part of Series B Round to Enhance Enterprise Productivity Through Conversational Business Applications and Generative AI

DRUID's platform gives enterprises the tools to build and design conversational business applications (CBA) to provide the most natural employee-customer experience. Early customers appreciate that the DRUID suite can be applied in any existing technology environment without replacing prior investments in ERP, CRM, RPA or other digital tools. Moreover, DRUID's recent integration with ChatGPT, via Microsoft's Azure OpenAI Service, makes generative AI enterprise-ready and secure.

"Amid the fanfare around conversational and Generative AI, DRUID stood out to us as a category leader. We were pleased to discover through our research how much current customers value the platform and how large a problem DRUID is solving for prospective customers. We are honored to lead this round and partner with Liviu and the DRUID team," said Schuster Tanger, co-managing partner at TQ Ventures.

Furthermore, DRUID'S CBA enhances Conversational AI's technological abilities with the power to understand business context and trigger intelligent actions, thus providing a user-friendly conversational layer that brings customers closer to their users and allows for use across multiple channels to streamline the successful completion of business tasks.

Several industry leaders have already implemented DRUID's technology with exceptional results. Kmart, Liberty Global, Texas Children's Hospital, White Castle, NHS, Auchan, Georgia Southern University, Société Générale, Erste Group, BNP Paribas, Axa, and more have integrated DRUID's Conversational Business Applications platform, experiencing significant improvements in both customer engagement and employee efficiency.

These organizations have reported enhanced customer satisfaction, reduced wait times, and increased issue resolution rates. Freeing employees from repetitive tasks allows them to focus on more strategic and meaningful responsibilities, resulting in heightened employee efficiency and satisfaction as well as overall team morale.

"DRUID capitalizes on recent advancements in generative AI, which seamlessly integrate into our conversational business applications platform. We believe our platform will, for large international enterprises, ignite a new era of productivity and tangible business outcomes. Bolstered by our latest investment round and against the backdrop of this technological revolution, we are well positioned and excited to work hard to offer technology solutions that empower our customers to unlock maximum value," said Liviu Dragan, CEO of DRUID.

The new financing round comes on the heels of DRUID's continued growth and development. In 2022, DRUID increased its annual recurring revenue by 2.5 times compared to 2021 and is predicting a further growth of 3 times this year.

"The international validation of the revolutionary platform built by DRUID convinced us for our third investment in the company, the first being at the end of 2020. Ever since then we have seen the potential of the team led by Liviu Dragan to create a technology that will transform the field of conversational artificial intelligence solutions for complex industries. DRUID demonstrated to enterprise clients that the platform met the highest technological security standards, thus confirming the platform's versatility and flexibility. Having been with DRUID since its first steps globally, we are happy to now see the company's important list of international clients and the increasingly ambitious plans of the team members to build an AI hub that can quickly incorporate the latest artificial intelligence technologies such as Generative AI," said Dan Mihăescu, Founding Partner, GapMinder.

Founded in Romania, DRUID has recently grown its global team by 60% and onboarded a few key ex-UiPath executives in strategic roles: notably, (a) Kedar Dani, ex-Global VP to design, to assist with go-to-market strategy; (b) Vargha Moayed, ex-Chief Strategy Officer, to provide strategic advice to the CEO; and (c) Mihai Faur, CIO of UiPath, to become an independent board member.

About DRUID

DRUID (www.druidai.com) is an end-to-end platform for building, deploying, and scaling AI-driven Conversational Business Applications, designed to deliver next-level employee productivity and the total customer experience in the most intuitive way. Acting as a front layer to all digital operations, DRUID unifies and enhances the existing technology landscape while mitigating app fatigue (learning and adapting to new systems). In addition, DRUID intelligent virtual assistants enable fast, personalized, omnichannel, and hyper-automated interactions while speaking each organization's language via open integrations with any existing enterprise systems and RPA technologies. Starting with 2018, DRUID actively builds on its vision to provide each employee with an intelligent virtual assistant, establishing an extensive 160+ partner network and servicing 200+ clients worldwide.

Photo - https://mma.prnewswire.com/media/2207457/DRUID_Group_picture.jpg

Modal title

Also from this source

DRUID AI named Star Performer and Major Contender in Everest Group's 2024 Conversational AI Products PEAK Matrix® Assessment

DRUID AI, a global leader in conversational AI solutions, today announced its inclusion as a Star Performer and Major Contender in the 2024...

More Releases From This Source

Explore

Computer & Electronics

Computer & Electronics

Artificial Intelligence

Artificial Intelligence

Computer Software

Computer Software

Computer Software

Computer Software

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.