Tunisian data management and analysis startup Biware has raised a MAD3.5 million (US$1.2 million) seed funding round to help it expand its team and launched new branches.
Founded in 2011 by Mohamed Amine Boussarsar and Walid Kaâbachi, Biware assists businesses in extracting value from their data for strategic purposes, such as increasing revenues, lowering costs, and reducing losses.
The MAD3.5 million (US$1.2 million) seed round comes from CDC Gestion and Zitouna Capital, and will be used to help Biware expand its team to 100 engineers and establish three African and European branches by 2025.
“Biware has a portfolio of about 50 customers – mainly large companies – in the finance, telecommunications, retail, service and energy sectors, in the African and European markets.
Our first customers were telecommunications operators, a sector in strong competition, where the detailed knowledge of the behaviour of their customers is a strategic lever for marketing to capture, increase revenue and retain the customer. Africa’s financial and energy sectors followed suit from 2016 onwards,” the startup said in a statement.
“Starting in 2018, we began investing heavily in the development of digital products and accelerators around the analytical core in verticalised areas, such as finance and human capital management, to meet the emerging needs of the small and medium-sized business market segment. We are convinced that to gain competitiveness companies must profoundly transform their organisation by automating and gradually introducing artificial intelligence into their internal and external processes.”