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Sep 12, 2023 18:01 EEST
September 12 (SeeNews) - Romanian tech company Druid said on Tuesday that it has secured $30 million (27.99 million euro) in a series B financing round led by U.S.-based investment firm TQ Ventures.
The funds will be used to accelerate the company's international expansion, particularly in the U.S. market, which currently generates some 60% of its revenues, Druid said in a press release.
New investors such as venture capital companies Smedvig Capital, Endeavor, and Verve Ventures, and existing investors GapMinder, Hoxton Ventures and Karma Ventures took part in the funding round.
Last year, the company more than doubled its annual recurring revenue and expects a further growth of three times in 2023.
Founded in 2018, Druid is an end-to-end platform for building, deploying, and scaling AI-driven conversational business applications to boost employee productivity and the total customer experience.
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