Druid Secures $30M Funding for Its Conversational AI Platform Integrating ChatGPT for Enterprises

European AI Startup Druid Secures $30 Million Series B Funding to Accelerate U.S. Growth

Druid, a European AI startup founded in Romania in 2018, has successfully raised $30 million in a Series B funding round. This investment will help the company expand its operations in the United States, which now accounts for a significant portion of its revenue.

Druid specializes in "conversational business applications" that utilize both traditional conversational AI models and cutting-edge generative AI technologies, like those powered by ChatGPT.

For example, businesses seeking to automate customer support around the clock can leverage Druid's platform to create a conversational assistant tailored to their specific needs, ensuring seamless service when human agents are unavailable.

Though there are several competitors in the space, such as Cognigy in Germany, Kore.ai in Florida, and Amelia in New York—recently securing $175 million in funding—Druid aims to set itself apart. A key differentiator is its recent collaboration with Microsoft, which integrates ChatGPT into its offerings. This relationship enhances Druid's ability to provide comprehensive support by improving knowledge access and intent detection in customer interactions.

“By incorporating generative AI, Druid can swiftly generate responses for general inquiries, freeing businesses from the time-consuming task of manual bot training,” said Dragan, Druid's spokesperson.

Importantly, while ChatGPT offers broad capabilities, Dragan emphasizes that it isn’t a catch-all solution for every enterprise need. Instead, it complements existing systems, improving the performance of specialized conversational AI tools.

“Consider GPT models as enhancing an already sophisticated tool,” Dragan continued. “Most of our use cases are effectively managed by our current conversational AI solutions and integrations.”

Druid's platform can be deployed on-premises or in the cloud, making it ideal for organizations that require complete control over their data. Additionally, Druid can integrate with existing systems like customer relationship management (CRM) and human resources information systems (HRIS) through APIs.

“Think of Druid as a universal translator that connects seamlessly with your existing infrastructure,” Dragan explained.

Prior to this funding, Druid raised approximately $20 million, including $15 million in a Series A round last year. With this additional capital, the company plans to broaden its global reach and focus intensively on the U.S. market, which now represents around 60% of its revenue.

Druid currently employs about 150 people worldwide, with two-thirds based in Bucharest, and others located in Melbourne, Austin, and London. Due to its growth in U.S. revenue, the company intends to relocate its headquarters to Austin in the coming months.

The Series B funding round was led by New York-based TQ Ventures, with investments from a variety of European firms, including Smedvig Capital, GapMinder, Hoxton Ventures, and Karma Ventures.