Druid, a European AI startup, has raised $30 million in a Series B round of funding to double down on its U.S. growth, which now makes up the majority of its revenue. The company was founded in Romania in 2018 and offers “conversational business applications” that leverage both traditional conversational AI models and generative AI served by ChatGPT.
Druid’s platform enables businesses to train a conversational assistant for various use cases, such as automating customer support 24/7 when human personnel might be offline or to fill a staff gap. The platform can be hosted on-premises or in the cloud, and through APIs, it can connect to existing systems such as customer relationship management (CRM) and human resources information systems (HRIS).
While there are numerous similar companies out there, Druid is striving to differentiate itself in a number of ways, including bringing ChatGPT to the mix. Druid offers customers access to more knowledge to handle more general customer queries and bolsters its ability to detect intent in the language used by customers. By integrating generative AI, Druid can tap into a vast reservoir of knowledge and quickly generate answers for more generic queries, meaning businesses can provide support without investing countless hours in manual bot-training.
However, it’s worth noting that ChatGPT and its ilk aren’t the answer to all enterprise problems. They are complementary and not necessarily well-suited to every specific industry scenario by virtue of the fact that they are built on a general-purpose language model. Druid’s existing conversational AI tools and the integrations they support remain primarily catered for many of the use-cases they serve.
Druid’s platform is designed to act as a universal translator that seamlessly links to systems businesses already have in place, according to CEO Liviu Dragan. Druid can connect to existing systems such as customer relationship management (CRM) and human resources information systems (HRIS).
Druid’s ability to detect intent in the language used by customers and its integration with ChatGPT are key differentiators in the market. The platform’s deployment flexibility and ability to connect to existing systems make it an attractive option for businesses seeking full control of all their data.
Growth
Druid, a conversational AI platform for enterprises, has raised $30 million in its Series B funding round led by TQ Ventures, a New York-based investment firm. The funding will be used to accelerate Druid’s international expansion, with a focus on the United States, which currently accounts for 60% of its revenue. Druid plans to extend its global footprint and shift its headquarters to Austin, Texas, in the coming months.
Druid’s platform enables enterprises to design and deploy conversational business applications (CBA) that automate customer support and enhance employee productivity. The platform offers a range of AI services, including generative AI, neural machine translation, dialogue management, and multimodal experience. Druid’s CBA can be integrated with enterprise systems and APIs and customized to meet specific business needs.
With the latest funding, Druid aims to enhance its platform’s deployment capabilities, process automation, and RPA integration. The company also plans to expand its partner network and develop new conversational AI assistants.
