Saudi Arabia-based customer engagement platform, Bonat, on Wednesday, announced that the startup has raised seed funding led by Impact46, with participation from Saudi Venture Capital (SVC) and some angel investors.
The company in a press statement revealed that the funds will be deployed towards product development, enhancing the user experience for both merchants and end-users – ultimately helping business great relationships with their customers.
Founded in 2017, Bonat offers online and offline retailers a software as a service (SaaS) solution to manage customer relations. It provides a loyalty programme to businesses to acquire, retain, and understand their customer purchasing behaviour.
Speaking of the development, Saud Binsaeed, Co-founder & CEO of Bonat, in a statement said,
“We have recognised an existing problem that faces businesses in identifying and maintaining their customer data and engagement, which created an opportunity cost that can be turned into profits. Usually 20 per cent of customers bring in 80 per cent of the business revenue. Our goal is to help businesses to identify their 20 per cent super fans to optimise the value of each customer as much as possible.”
The company claims that it is currently serving over 100 clients across Saudi Arabia, including restaurants like Elixir Bunn, Less Cafe, Greens, Opo, and Froz.
Commenting on the investment round for Bonat, Impact46 team said,
“Bonat is addressing a great opportunity in the customer engagement space, where the solution allows businesses to drive their brand names and convert customers from being one time visitors to loyalists. We’re excited to back a Saudi customer engagement solution, and we’re proud of the team behind it,”