Bonza, a big data analytics startup, announces a $2 million (more than IDR 28 billion) fundraising led by its previous investor, East Ventures, with the participation of Elev8.vc. Previously, East Ventures has poured seed funding for Bonza in May 2020 with an undisclosed amount.
From the official statement today (5/6), the fresh money will be used to accelerate its vision of becoming the leading data company in Southeast Asia. Currently, they are developing a platform to support companies to better process data and deploy AI solutions through a no-code platform.
The no-code approach developed by Bonza will enable technical and non-technical teams to build and deploy data-driven solutions at scale.
Bonza’s Co-Founder & CEO, Elsa Chandra said, “[..] This investment will be a stepping stone for us to build a world-class engineering and data science team, accelerate the development of our platform, and market expansion throughout Southeast Asia.”
East Ventures’ Co-Founder & Managing Partner, Willson Cuaca added, “Data infrastructure development is inevitable for all organizations. Bonza’s no-code platform accelerates the implementation of data modeling that companies need to stay competitive. Elsa and Philip have done it well last year.”
Elsa continued, what differentiate Bonza is that the platform removes the friction and barriers that an organization faces when creating and implementing data-based solutions for the first time to create added value from their data. Organizations can integrate multiple data sources within the organization, then build and deploy machine learning models in a responsive user interface.
Users can automate the long integration process of data for report, reducing the duration to implement AI solutions from months to days. Elsa gave an example, one e-commerce merchant has used the Bonza solution now gets a 360-degree view of the customer to improve the customer experience and personalization.
Meanwhile, fintech players build real-time fraud detection engines and monitoring tools that will be useful for the fraud operations teams to gain insights from different venues and unstructured data sources so that fraud rates are reduced.
“One of our clients has experienced an increase in GMV three times every quarter since they started using Bonza as they succeeded in increasing marketing effectiveness and reducing customer churn by utilizing real-time analytics,” he explained.
Bonza is a one year old company which is claimed to have reached a profitability point in its first year. This startup was founded by Elsa Chandra and Philip Thomas while they were working at Traveloka. Elsa manages Traveloka investments, while Philip leads one of the data science teams tasked with implementing the machine learning model for Traveloka.
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Original article is in Indonesian, translated by Kristin Siagian