Druid: Revenue increase of 349% in H1 2020. Financial results over expectations

Business, Finances

Druid, company specialized in developing intelligent chatbots for entreprise type organizations, announced ending the first half of the current year with a turnover up 349%, over 4 times bigger compared to the same period last year. Attracting new clients and launching new virtual assistents determined an increase of the monthly recurring revenues from licenses of 304% compared to the same revenues in the same period last year. Following the high demand of chatbots generated by the pandemic, the company revised up the increase of the recurring revenues from liceses, estimating an increase of 560% by the end of the year. The implementation services are generating a five time increased value for the network of implementation partners.

In the structure of the turnover, the biggest contribution came from financial services sector (banks, insurances, financial and operational leasing ), which generated 49% of the total, while health services represented 25%, retail –  15%, and the rest of 11% came from other sectors, mainly services and utilities.

Among the companies that joined Druid portfolio in the first half of the year are BRD Societe Generale, Garanti Bank, Libra Bank, Idea Bank, Alpha Bank, OTP Bank, OTP Leasing, Groupama Asigurări, Provident, Orange România, Orange Moldova, Carrefour, Cărtureşti, Altex, Profi, FAN Courier, Cora. Also, clients from 2019 that decided to expand internal teams of virtual assistents and launch new chatbots to automize other process are  Banca Transilvania, Regina Maria, Asirom, Servier Pharma, eON, Dona, Orange and Provident .

To be able to provide signing at distance for documents, as a consequence of COVID, Druid entered a partnership with Namirial and CertSign, providers of electronic signatures. Other partnerships closed by Druid were with KeysFin, Tremend, Vonage and SDL and with the UiPath robots.

In June, Druid entered a global agreement with UiParh, Druid’s conversational abilities being implemented in UiPath’s hyperautomation platform.

Druid aims to become leader, in the next 5 years, on the global market of conversational solutions based on AI. The market is estimated to raise from USD 4.2BN in 2019 to USD 15.7BN by 2024, with an annual growth rate of 30,2%.