Romanian chatbot developer DRUID scores $15m

DRUID, an end-to-end platform for chatbots, has scored $15m in funding to support its international expansion efforts.

The company is hiring more staff to support its growth across Europe and North America. DRUID is also looking to release new capabilities to its conversational AI solution and improve the user experience.

As part of its growth plans, the company is opening offices in France and Germany by the end of the year and increase its team size by 60%.

Karma Ventures and Hoxton Ventures served as the lead investors to the round, with commitments also coming from existing DRUID backer GapMinder. Investments also came from unnamed investors from Germany, Switzerland, Poland, and Romania.

Romania-based DRUID was created to capitalise on the digital transformation initiatives businesses have.

Its AI-driven conversational business applications allow businesses to enhance the user experience for customers and employees. It provides enterprises with conversational capabilities and supports intuitive, natural and frictionless digital interactions.

DRUID claims it was the first company to give voice to RPA robots, adding conversational skills to the hyper automation platform. The company continues to integrate with RPA technology providers, with a network of over 130 partners.

The company builds chatbots for the insurance and banking industries. A bank can use the chatbot to provide customers with finance tips, streamline onboarding, automate marketing and improve customer support. Similarly, insurers can use the app to improve customer engagement, improve underwriting and streamline claims.

DRUID has experienced a strong year of growth, including a 3.8-times annual recurring revenue growth rate at the end of 2021. It has already achieved a 2.8-times growth at the end of Q1 2022, it said.

DRUID CEO Liviu Drăgan said, “Leveraging our market-validated platform, our goal is to empower businesses worldwide in using DRUID solutions to secure customer loyalty and boost employee retention for businesses of all sizes.

“We are going beyond the present typical constraints of conversational solutions to create a new category of products, Conversational Business Applications (CBA), that will enable AI to successfully drive complex processes and help people achieve better business results.”

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