The fundraising was led by East Ventures, a pioneering sector-agnostic venture capital firm in Indonesia, and participated by Elev8.vc
Founded in 2020, the startup is developing an enterprise solution in the form of a no-code platform for data analytics and artificial intelligence (AI) deployment.
Bonza said its 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. It seeks to empower organizations to achieve more by enabling everyone to work with data effortlessly and create real impact.
The new funding round comes a year after a seed fund in 2020 from East Ventures. In its first year of operation, the company said it 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,” said Bonza co-founder and CEO Elsa Chandra.
Customers have used Bonza’s platform to solve their data challenges. In one example that the company cited, an e-commerce retailer has used Bonza’s solution to create a full 360-view of customers to enhance customer experience and personalization.
Another customer, a fintech player, 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.
Chandra and co-founder Philip Thomas met in Traveloka but came from different teams. Chandra was leading investments for the company, while Thomas was leading one of the data teams and developing machine learning models for Traveloka.
Bonza’s team is based in Indonesia and Singapore.
Commenting on the investment, East Ventures co-founder and managing partner Willson Cuaca said Bonza’s no-code platform accelerates data analytics and AI implementation that enterprises need to stay competitive.
“The need to build scalable data infrastructure and capabilities is inevitable to all organizations,” Cuaca said.