Romanian chatbot innovator, DRUID, has successfully raised $30 million in a Series B funding round, achieving a valuation of approximately $100 million. The round was spearheaded by US-based VC TQ Ventures, known for backing companies such as BeReal, Clubhouse, and RO Health. Existing investors, including Hoxton Ventures, Karma Ventures, and Gapminder, also participated in the funding event.
The funding comes at a time when Romanian startups, inspired by the success of UiPath, are striving to develop ingenious solutions that streamline operations for large enterprises. Companies like FlowX.ai and Kubeark are gaining momentum in this pursuit, with international investors recognizing the potential of these emerging ventures.
DRUID specializes in providing a platform that enables companies to construct and customize chatbots for seamless integration into their existing technology infrastructure. The company's chatbot solutions have already been adopted by prominent organizations such as Liberty Global, Texas Children's Hospital, the NHS, Auchan, Société Générale, BNP Paribas, and Axa.
DRUID's chatbots find applications across various sectors. In e-commerce, customers can inquire about order statuses or returns, while in healthcare facilities, the chatbots assist with triage, pre-diagnosis, appointment booking, and test result inquiries. Additionally, in the banking sector, customers can seek assistance with loan applications. Furthermore, DRUID's chatbots are designed to support employees in resolving administrative and operational tasks efficiently.
Founded in 2018 in Romania by five co-founders, all of whom had previously worked at the Romanian business software giant TotalSoft, DRUID has since expanded its operations. The company is currently headquartered in London and maintains offices in Austin, Bucharest, and Melbourne, employing approximately 150 individuals worldwide. Notably, DRUID has recruited former UiPath employees for key strategic positions, further enhancing its capabilities.
With the infusion of fresh capital, DRUID intends to focus on expanding its global presence, with a particular emphasis on strengthening its position in the US market, which currently contributes to 60% of its revenue. Additionally, the company aims to enhance its natural language processing engine and explore the potential of generative AI.
While the chatbot market is saturated, DRUID distinguishes itself through its holistic approach. The company's chatbots seamlessly integrate with existing tech stacks, including customer relationship management systems (CRMs), providing a comprehensive solution for enterprises.
Investors participating in the Series B funding round include:
- TQ Ventures (US-based VC)
- Smedvig Capital (UK-based VC)
- GapMinder (Romanian VC)
- Hoxton Ventures (UK-based VC)
- Karma Ventures (Estonian VC)
As DRUID continues to advance its chatbot solutions and expand its global footprint, it stands poised to make a significant impact on the conversational AI landscape.
