SAA advised DRUID, the AI conversational technology company that develops intelligent virtual assistants for Enterprise organizations, in its 15M Series A financing. The funding round was co-led by Karma Ventures and Hoxton Ventures and included GapMinder, as well as four other investors from Germany, Switzerland, Poland, and Romania.
The new funding will be used to accelerate the company's international expansion and footprint by actively hiring new talents and increase platform versatility.
This investment follows another year of rapid growth for DRUID, which reached a 3.8x Annual Recurring Revenue (ARR) growth rate at the end of December 2021 compared to 2020 and already achieved a 2.8x growth at the end of Q1 2022 compared to the same period last year.
Founded in 2018 by Liviu Dragan, together with a team of experienced software engineers and business consultants, DRUID quickly became one of the most successful AI-focused start-ups in CEE having gained over 50 enterprise customers in just 6 months. With a full-fledged AI-powered platform proposal and partnerships with the world’s best consulting and BPO companies and top technology providers, DRUID is on its way to becoming one of the big players in the global conversational AI landscape.
The Stratulat Albulescu Tech M&A team was led by Managing Partner Silviu Stratulat, and included Senior Associate Vlad Sandulescu, as well as Associates Roxana Ioncu and Adina Popescu.