Druid recently announced a successful Series B funding round, raising $30 million. This funding will be instrumental in its continued expansion in the United States, where it generates most of its revenue. Established in Romania in 2018, Druid specializes in the development of“conversational business apps. These apps harness the capabilities of both conventional conversational AI models and emerging generative AI technologies, such as ChatGPT. Companies seeking to automate customer support around the clock can utilize Druid’s platform to train a conversational assistant.
How Druid Stands Out
Numerous similar companies operate in this space, including Cognigy, Kore.ai, Amazon, and Amelia in New York. Nevertheless, Druid is actively working to stand out, with one of its standout efforts being the integration of ChatGPT. This addition is a result of a recent collaboration with Microsoft. It grants customers access to a broader knowledge base to effectively address a wider range of general customer inquiries. Furthermore, this integration enhances Druid’s ability to discern customer intent based on their language usage.
ChatGPT and similar models do not provide universal solutions for all enterprise challenges. Given their foundation as general-purpose language models, they serve as complementary tools. They may not be ideally suited for every specific industry scenario.
Regarding deployment options, Druid offers the flexibility of being hosted on-premises or in the cloud. Additionally, Druid’s API connectivity enables seamless integration in systems. These systems include customer relationship management and human resources information systems.
Druid’s Growth So Far
Before now, Druid had successfully raised approximately $20 million, which included a $15 million Series A round last year. With this fresh injection of capital, the company outlined its expansion plans. The expansion plan primarily focuses on broadening its global presence, notably in the United States. The US currently accounts for about 60% of its total revenue.
Druid reports a workforce of approximately 150 employees on a global scale. Two-thirds of the team is at its main office in Bucharest. Additional team members are in various locations, including Melbourne (Australia), Austin (US), and London (UK). However, given the increasing contribution of US revenue, the company plans to relocate its headquarters to Austin soon.
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