East Ventures leads Bonza US$2m new round to accelerate go-to-market of AI no-code platform
6 May, 2021
- Bonza raised US$2M in a new round led by East Ventures with participation from Elev8.vc.
- The company is developing an enterprise solution in the form of a no-code platform for data analytics and artificial intelligence (AI) deployment.
- Established in 2020, Bonza raised a seed fund from East Ventures and achieved profitability within its first year.
Bonza, big data analytics company announced earlier today that it has secured a US$2M funding led by East Ventures with participation from Elev8.vc. This fresh capital will accelerate Bonza’s vision to become a leading data platform company in Southeast Asia. Bonza is developing its platform offerings to better support enterprises in deploying data and artificial intelligence (AI) solutions through a no-code platform.
The new funding round comes a year after a seed fund in 2020 from East Ventures. In its first year of operation, the company managed to achieve profitability.
“What makes Bonza different is that our platform removes friction and barriers organizations face when creating and implementing data-driven solutions. We have seen creative ways of how our early customers use our platform in their operations. From automating tedious data integration tasks for report generation to reducing the time for deployment of AI solutions from months to a couple of days. One of our customers experienced a triple-digit growth quarterly in GMV since they started using Bonza, as they managed to improve marketing effectiveness and reduce customer churn using real-time analytics,” said Elsa Chandra, Co-Founder and CEO of Bonza.
Bonza’s no-code approach for data analytics and AI deployment enables both technical and non-technical teams to build and deploy data-driven solutions at scale.
Bonza supports both digital-enabled companies as well as companies who are adopting or ready to adopt cloud-based data solutions for the first time to unlock the value of their data. With Bonza’s platform, organizations can integrate disparate data sources in the organization into a single source of truth, build and deploy machine learning models – all within an intuitive user interface.
Customers have used Bonza’s platform to solve their data challenges. An e-commerce retailer has used Bonza’s solution to create a full 360-view of customers to enhance customer experience and personalization, while a fintech player has built a real-time fraud detection engine and monitoring tools for fraud operations team to gain insights from disparate and unstructured data sources to reduce fraud rates.
Co-founders Elsa Chandra and Philip Thomas met in Traveloka but came from different teams. Elsa was leading investments for the company, while Philip was leading one of the data teams and developing machine learning models for Traveloka.
At Traveloka, Elsa and Philip witnessed how big data models accelerated the speed and quality of insights to make data-driven decisions in the company. During their time in Traveloka, they saw an opportunity to help other companies in Southeast Asia to tackle their data challenges and use data more effectively for decision making, and decided to start Bonza.
“Getting value from their data is a global problem that organizations face, and Bonza is on the mission to enable organizations to go beyond static dashboards and operationalize analytics and AI solutions at scale. When speaking to customers, we found many data teams spent more than 50% of their time preparing data for reporting. With our platform, they are able to automate these data workflows and focus on building and deploying data solutions easily to drive impact,” said Philip Thomas, Chief Product and Data Officer of Bonza.
“The need to build scalable data infrastructure and capabilities is inevitable to all organizations. Bonza’s no-code platform accelerates data analytics and AI implementation that enterprises need to stay competitive. Elsa and Philip have executed it well in the past year, and we are excited to double down on Bonza and support them further,” said Willson Cuaca, Co-founder and Managing Partner of East Ventures.
“Every business today, regardless of size, has access to enormous amounts of business-related data. The companies that will thrive are the ones that can nimbly harness these data – from disparate structured and unstructured sources – to provide real-time, evolving, and mission critical insights. Bonza’s intuitive platform does just that: it enables businesses of all sizes to fuse massive data to develop actionable insights, in minutes, and with low to no code options. Philip and Elsa bring their world-class prior experience to Bonza’s elegant solution. Elev8.vc couldn’t be more thrilled to support Bonza as they empower all businesses to become data-enabled businesses,” said Aditya Mathur, Managing Director, Elev8.vc.
“We are very excited to have East Ventures leading this round, with participation from Elev8.vc. This investment will be a stepping stone for us to build a world class engineering and data science team, accelerate our platform development and go-to-market expansion across Southeast Asia,” said Elsa Chandra, Co-Founder and CEO of Bonza.