Baresquare raises $2.5M to help businesses use data to act fast

Portfolio

28th September 2021

London/Thessaloniki, September 28, 2021. Baresquare, the action-driven analytics company serving an expansive international client base, announces its seed financing round of $2.5 million, led by European venture capital firm btov Partners.

Founded in Greece, Baresquare has developed an AI-powered analytics platform to transform the way Marketing, eCom and Retail professionals work with data. Rather than continue sifting and sorting through endless static data reports in search of insights and answers, Baresquare’s action-driven analytics platform pinpoints traffic, conversion and customer experience optimization opportunities—providing teams with clear next steps to act fast for the greatest business impact.

“People are drowning in data, paralyzed by high data volume and complexity,” states Georgios Grigoriadis, Baresquare CEO & Founder. “We are constantly bombarded with new data, tethered to our screens in search of insights and answers, and it’s almost impossible to stay afloat, let alone feel confident that we’re making the best calls for our businesses. We can’t keep working with data the same way, because soon it won’t be humanly possible to keep up. That’s why Baresquare has developed a scalable, cloud-based analytics software that turns timeseries data into action. We’re taking the reins back, so that data works for people again, and not the other way around.”

The Baresquare action-driven analytics platform connects with popular time series databases and provides prioritized action tickets within the collaboration tools teams already use.

Over the last decade, Baresquare has worked to develop the most efficient, effective way to extract actionable insights from raw data. Today, their system provides action tickets in plain English, prioritized by business impact. Using cutting-edge machine learning, the platform is constantly learning which metrics matter most to organizations and gets smarter over time—empowering teams to use data to act fast and drive measurable, valuable change. Baresquare recently helped a global mass media company find and fix critical conversion issues in a matter of hours, which would have otherwise taken weeks to notice.

Baresquare’s first financing round was led by European venture capital firm btov Partners, and will be used to further build out the product and support the company’s international expansion. The round was joined by Marios Stavropoulos, former Co-Founder & CEO of Softomotive (now part of Microsoft Power Automate; acquired by Microsoft in 2020) and Kostas Tzoumas, former Co-Founder & CEO of Data Artisans (now Ververica; financed by btov and acquired by Alibaba in 2019).

As btov partner and co-founder Florian Schweitzer says, “btov Partners supports disruptive technologies that improve the lives of people and help companies perform better. We know how overwhelmed most businesses are with the data available to them, and Baresquare’s technology cuts through this noise, helping them act quickly instead of just analyzing endless reports. Baresquare’s technology gives its customers a true competitive advantage and will change how we think about business data.”

With btov’s support, Baresquare will double down on making their product more accessible to all, offering a “24/7 analyst” for teams that likely had none. And for teams who have in-house analysts, Baresquare will free up time and energy to think about more complex problems and solutions that actually move their business and their people forward.

 

About Baresquare

Baresquare is changing how people work with data. The Baresquare AI-powered analytics platform surfaces micro insights that could lead to major opportunities so that performance teams no longer waste valuable time sifting through data, pinpointing problems, or fixing costly issues. With 10+ years of industry expertise and headquarters in London and Thessaloniki, Baresquare provides next-generation analytics software and services to global brands such as Sony, Pulse Insights and Domes Resorts in the US, Japan, UK and Europe.

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