Biware, a Tunisian data management and analysis firm, has raised US$1.2 million in seed capital to help it grow its team and open new locations.
Biware will use the US$1.2 million seed round from CDC Gestion and Zitouna Capital to grow its team to 100 engineers and open three African and European branches by 2025.
Biware, founded in 2011 by Mohamed Amine Boussarsar and Walid Kaâbachi, helps companies extract value from their data for strategic reasons like raising revenues, saving costs, and reducing losses.
“Beginning in 2018, we began aggressively investing in the creation of digital products and accelerators around the analytical core in verticalized areas like finance and human resource management to satisfy the rising needs of the small and medium-sized business market segment. We are certain that enterprises must fundamentally alter their organizations in order to acquire competitiveness by automating and gradually adding artificial intelligence into their internal and external processes,” according to the firm.
Biware has about 50 customers in the African and European markets, mostly significant corporations in the financial, telecommunications, retail, service, and energy industries.