Biware, a Tunisian data management and analysis startup, has raised a preliminary funding round of MAD3.5 million (US$1.2 million) to help it expand its team and open new branches.
Biware, founded in 2011 by Mohamed Amine Boussarsar and Walid Kaâbachi, helps companies extract value from their data for strategic purposes like increasing revenues, saving costs, and reducing losses.
Biware will use the MAD3.5 million (US$1.2 million) seed round from CDC Gestion and Zitouna Capital to expand its workforce to 100 engineers and open three African and European branches by 2025.
In the African and European markets, Biware has a portfolio of about fifty customers (mainly large companies) in the finance, telecommunications, retail, service, and energy sectors.
Telecommunications operators were the startup’s first customers, a competitive industry where detailed knowledge of customer behavior is a strategic marketing lever for capturing, increasing revenue, and retaining customers. Africa’s financial and energy sectors followed suit from 2016 onwards.
To fulfill the rising needs of the small and medium-sized business market sector, Biware began investing substantially in the creation of digital products and accelerators around the analytical core in verticalised areas such as finance and human resource management in 2018. They believe that in order to gain competitive advantage, businesses must fundamentally restructure their operations by automating and gradually integrating artificial intelligence into internal and external processes (customers, partners and suppliers).