Saudi Arabia-based customer engagement platform, Bonat, has raised its Seed investment round, led by Impact46 with participation from Saudi Venture Capital (SVC) and angel investors.
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. The startup plans to use the investment primarily to fund its product development.
“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,” said Saud Binsaeed, co-founder and CEO of Bonat. “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.”
Bonat currently serves more than 100 clients across Saudi Arabia, including restaurants like Elixir Bunn, Less Cafe, Greens, Opo, and Froz.
“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,” said the Impact46 team in a statement.