Baresquare raised 2.5 million dollars to expand its portfolio
The greek startup Baresquare, raised 2.5 million dollars after a funding round. The analytics company intends to expand its clientele, helping to optimize more and more corporate decisions.
The European VC btov Partners led the funding round. Marios Stavropoulos, co-founder and CEO of Softomotive and Kostas Tzoumas, co-founder and CEO of Data Artisans also participated in the round. The aim of the startup is the additional development of technology and its direct entry into new markets abroad.
“We are constantly producing new data and remaining engrossed in our screens, looking for answers. It is impossible to achieve a comprehensive data analysis. We cannot continue in the same way because it is not possible to keep up with the speed at which the data is generated.
That’s why Baresquare’s technology reads digital data and automatically notifies users of problems and suggested solutions. We take control in our hands so that the data works again for our benefit, and not the other way round,” said George Grigoriadis, founder and CEO of Baresquare.
Recently, in fact, a media organization with 454 million readers of 26 publications in 32 countries served by Baresquare, detected within a few hours issues faced by digital visitors, which would otherwise remain in obscurity without being resolved.
The company also plans to multiply the growth rate of its product by making it available to more companies, providing a “24-hour data analyst” to businesses that don’t have an analytics department. At the same time, Baresquare will provide time and energy for teams to focus on more complex issues and solutions.
“btov Partners invests in technologies that improve people’s lives and help businesses achieve more. Baresquare’s technology reduces information noise and helps them act quickly on the issues that matter. Baresquare gives its customers a real competitive advantage and will change the way we use data in the workplace,” said Florian Schweitzer, co-founder of the investment fund btov.
It should be noted that Baresquare is a ScaleUp startup of the Endeavor Network, operating in the analytics industry with an international clientele and founded in 2017. The company has developed a data analytics platform that changes the way analysts and ordinary users use data to improve their services and products.
In other words, thanks to artificial intelligence algorithms, Baresquare’s action-driven analytics platform identifies hidden problems and ways to optimize website traffic, online transaction integration and the whole digital user experience.