Funding round
Druid AI Series A
Druid AI, which works in AI platform development in Bucharest, raised $15M in a Series A round announced on 3 May 2022, led by Karma Ventures and Hoxton Ventures. 3 firms took part. It is Druid AI's first venture round on record.
$15M
Amount raised
Not disclosed
Post-money valuation
3
Investors
2 leads
Valuation
What this round says about the price
Druid AI did not disclose a valuation in this round. It is Druid AI's first venture round on record, 4 years after it was founded in 2018. It is 20% of the $76M Druid AI has raised in the venture rounds on record. Druid AI raised again 16 months later: a Series B round of $30M in Sep 2023.
Investors
Who put money in
Karma Ventures and Hoxton Ventures led the round with 1 other firm.
Lead investors
- backs 20 venture-backed companies new investor
- Hoxton Ventures backs 50 venture-backed companies new investor
Also in the round
- GapMinder backs 21 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
117 Series A rounds in Software Development Services within a year either side disclosed an amount; the median was $12M, and this round was 1.3 times the median. The closest in time, other companies' Series A rounds in Software Development Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Software Development Services | 16 May 2022 | $70M | $500M | Dawn Capital and Goldman Sachs |
| Software Development Services | 17 May 2022 | $55M | not disclosed | Tiger Global and Insight Partners |
| Software Development Services | 6 May 2022 | $40M | $400M | Andreessen Horowitz |
| Software Development Services | 18 May 2022 | $25M | not disclosed | Redpoint Ventures |
| Software Development Services | 10 May 2022 | $11M | not disclosed | Future Energy Ventures |
| Software Development Services | 12 May 2022 | $11M | not disclosed | Nava Ventures |
| Software Development Services | 18 May 2022 | $8.3M | not disclosed | Lemniscap |
| Software Development Services | 4 May 2022 | $3.0M | not disclosed | Accel |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Druid AI raise in its Series A round?
Druid AI raised $15M in its Series A round, announced in May 2022.
Who led Druid AI's Series A round?
Karma Ventures and Hoxton Ventures led it, with GapMinder.
What was Druid AI's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Software Development Services?
117 Series A rounds in Software Development Services within a year either side disclosed an amount; the median was $12M, and this round was 1.3 times the median.
Did Druid AI raise again after this round?
Yes: a Series B round in Sep 2023 of $30M.