After spending years searching for tools to help companies better understand consumer behavior, Joseph Rutakangwa decided to build his own solution. In 2021, he co-founded Rwazi with Eric Sewankambo, and now the company has successfully raised a $12 million Series A round, led by Bonfire Ventures, to expand its AI-driven market intelligence platform.
According to Rutakangwa, while there’s no shortage of consumer data in markets like the U.S., U.K., and parts of Western Europe, major economies such as India, Brazil, Mexico, Japan, Turkey, and China lacked accurate, accessible consumer insights. Government statistics and traditional survey methods proved to be either outdated, fragmented, or unreliable.
That challenge led to the development of Rwazi’s unique approach—leveraging zero-party data, which refers to consumption data willingly shared by consumers as part of their daily routines. This data is gathered in real time across various locations, using advanced validation and verification systems.
Rwazi’s AI-powered platform gives businesses real-time visibility into consumer behavior, helping them anticipate trends, reduce customer acquisition costs, and increase brand loyalty. Today, Rwazi serves leading global brands, including Coca-Cola, Pampers, Visa, and Nestlé, according to its website.
Back in 2022, Rwazi raised a $4 million seed round, also led by Bonfire Ventures. This latest funding round also saw participation from Santa Barbara Ventures, Newfund, and Alumni Ventures. Rutakangwa described the Series A process as “selective,” emphasizing the importance of partnering with investors who truly understand the problem Rwazi is solving.
With data currently being collected from 190 countries, and a client base primarily in the U.S. and Europe, Rwazi plans to use the new capital to enhance its AI co-pilot and expand its engineering team. The company’s broader goal is to continue building the infrastructure necessary to track and analyze the evolving landscape of global consumer behavior.
While Rwazi faces competition from established market research firms like GFK and Ipsos, Rutakangwa believes the company’s direct access to real-time, voluntarily shared data gives it a strong competitive edge.
“Winning today means anticipating shifts, seeing around corners, and making confident moves before the competition even senses a change,” he said.
