Druid differentiates itself by integrating ChatGPT into its services, allowing for more general customer queries to be handled. The company can be hosted on-premises or in the cloud and can connect to existing systems such as CRM and HRIS through APIs. With the new funding, Druid plans to extend its global footprint, particularly in the U.S., and shift its headquarters to Austin. The Series B round was led by TQ Ventures, with participation from several European investors.
Key takeaways:
- European AI startup Druid has raised $30 million in a Series B funding round, with plans to focus on its U.S. growth, which currently makes up the majority of its revenue.
- Druid's platform offers "conversational business applications" that utilize both traditional conversational AI models and generative AI served by ChatGPT, allowing companies to automate customer support 24/7.
- Druid differentiates itself from competitors by integrating generative AI, which allows it to tap into a vast reservoir of knowledge and quickly generate answers for more generic queries.
- With the new funding, Druid plans to extend its global footprint, particularly in the U.S., and intends to shift its headquarters to Austin in the coming months.