Druid AI today announced it has secured USD 31 million in Series C financing to advance the global expansion of its enterprise-ready agentic AI platform under the leadership of its new CEO, Joseph Kim.
The investment was led by Cipio Partners, with participation from TQ Ventures, Karma Ventures, Smedvig, and Hoxton Ventures.
Kim has more than two decades of operating executive experience in application, infrastructure, and security industries. Most recently, he was CEO of Sumo Logic. He serves on the boards of directors of SmartBear and Andela. In addition, he was a senior operating partner at private equity firm Francisco Partners, CPTO at Citrix, SolarWinds, and Hewlett Packard Enterprise, and chief architect at GE.
He takes over from Druid AI cofounder and COO Andreea Plesea, who had been interim CEO since the passing of founder and CEO Liviu Drăgan this May.
“This investment is both a testament to Druid AI’s success and a catalyst to elevate businesses globally through the power of agentic AI,” said Kim. “Customer success is what it’s all about, and delivering real business outcomes requires understanding companies’ pain points and introducing innovations that help those customers address their complex challenges. That’s the Druid AI way, and now we’re bringing it to the world through this new phase of global growth.”
“At Cipio Partners, we focus on supporting growth-stage technology companies that have achieved product-market fit and are ready to scale. Druid AI aligns perfectly with our investment strategy – offering a differentiated, AI-based product in a vast and rapidly growing market. Our investment will help accelerate Druid AI’s expansion into the U.S. and elsewhere, fuel further technological advancements, and strengthen its position as a global leader in enterprise AI solutions. We are excited to partner with DRUID AI on its journey and look forward to supporting the company in shaping the future of enterprise AI-driven interactions,” Roland Dennert, managing partner at Cipio Partners, a premier global growth equity fund, explained.
Druid AI cofounder and Chief Operating Officer Andreea Plesea, who had been interim CEO, commented: “I am delighted Joseph is taking the reins as CEO to drive our next level of growth. His commitment to customer success and developing the exact solutions customers need is in total sync with the approach that has fueled our progress and positioned us to raise new funds. Joseph and the Series C set up Druid AI and our clients for expanded innovation and impact.”
In 2024, Druid AI grew ARR 2.7x year-over-year. Its platform has powered more than 1 billion conversations across thousands of agents. In addition, the Druid AI global partner ecosystem has attracted industry giants such as Microsoft, Genpact, Cognizant, and Accenture.
Druid AI has more than 300 global clients across banking, financial services, government, healthcare, higher education, manufacturing, retail, and telecommunications. Organizations such as AXA Insurance, Carrefour, the Food and Drug Administration (FDA), Georgia Southern University, Kmart Australia, Liberty Global Group, MatrixCare, National Health Service, and Orange Auchan have adopted the company’s solutions.
Druid AI is an end-to-end enterprise-grade AI platform that enables fast development and deployment of AI agents, knowledge bases, and intelligent apps for teams looking to automate business processes and improve technology ROI.
(Photo: the company)
simona@romania-insider.com
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