In a significant boost to its expansion plans, Chilean startup Biwiser has successfully closed a funding round, raising USD $161,540 —83% more than its initial target of USD $87,990. Conducted through the crowdfunding platform Uper.co, the campaign attracted 112 investors.
Biwiser has been a game-changer in the field of Business Intelligence (BI), offering analytical platforms to accelerate decision-making within companies. With a portfolio of 150 clients in Chile and neighboring countries, the startup has built relationships with renowned companies such as Komax, Flesan, and Exacom.
David Ávila, CEO of Biwiser, said:
“These funds will allow us to improve our analytical platform, strengthen the relationship with our partners and customers, and expand to more countries in Latin America. The overwhelming response from investors boosts our confidence to further scale and refine our strategic plans for this year and beyond,” he added.
In addition to making data analytics user-friendly, Biwiser has recently launched OpWiser, a separate startup focused on retail inventory optimization. Furthermore, the company has initiated the Biwiser Academy to train professionals in Business Analytics.
According to a report by Tata Consultancy Services, 51% of Latin American companies have undertaken significant data-related initiatives in the last decade. A survey by Glue Executive Search involving more than 600 CEOs and managers from Latin America revealed that 81% of companies are making strides in their digital transformation journey.
Industry analysts at Gartner point out that 95% of data-driven decisions can be at least partially automated. By 2026, it’s expected that 85% of companies will blend human insights with AI, machine learning, natural language processing, and pattern recognition to improve forecasting capabilities, making workers 25% more productive, as per a study by Qllik.
Biwiser is poised to disrupt the BI market further and will expand its operations to Mexico in the coming months.