TUNISIA – Biware, a Tunisian consulting, software integration, and publishing firm specializing in data management and analysis, has raised its first round of funding with CDC Gestion and Zitouna Capital, totalling 3.5 million dinars (US$1.2m).
This fundraising represents a significant step forward for the company, which has been operating on the African and European markets for 11 years, allowing it to carry out its strategic development plan (2021–2006), which is supported and financed by the EBRD in collaboration with the firm PROQUAL.
By 2025, Biware hopes to have a hundred African and European engineers and branches thanks to this fundraising.
BIWARE, founded in 2011, is a technology firm with roughly thirty engineers whose objective is to assist businesses in extracting value from their data reservoirs for strategic purposes, such as increasing revenues, lowering costs, and reducing losses.
Biware uses SAS(R) (SAS Partner) and Microsoft (R) (Microsoft Gold Partner) technology to respond to business concerns and aid clients in making decisions, such as customer knowledge and targeting, fraud detection and management, and demand forecasting.
On the African and European markets, Biware has a portfolio of roughly fifty clients (mostly large corporations) in the finance, telecommunications, retail, service, and energy sectors.
Its earliest customers were telecommunications operators, a highly competitive industry in which extensive information of consumer behavior is a crucial marketing lever for capturing, increasing revenues, and retaining customers. From 2016, the company served the African banking and energy sectors.
To fulfill the rising needs of the small market segment and medium-sized organizations, Biware began investing substantially in product development and digital accelerators around the analytical core in verticalized areas such as finance and human resource management in 2018.
Biware believes 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).
