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In 2017, when AI was still in its early stages, Georgios Grigoriadis launched Baresquare, an innovative analytics company that harnessed AI to address inefficiencies in data-driven marketing. This interview offers a glimpse into how Georgios identified a problem, created a solution, and built a business poised to revolutionize eCommerce analytics.

The Vision Behind Baresquare

Georgios, the founder and CEO of Baresquare, combined his MBA education and data analytics experience from Sony to create a product that simplified data analytics for marketers. His inspiration came from a realization in 2014 that data analytics was riddled with inefficiencies—marketers spent hours analyzing dashboards but achieved minimal results. In response, Georgios set out to change the game. By 2017, Baresquare was born, a SaaS platform designed to deliver actionable insights in plain language, making it easier for marketers to focus on what matters—growing revenue. Today, the platform goes beyond analytics by utilizing AI agents that provide insights and execute necessary actions.

Monetizing the Platform

Initially, Baresquare operated on a volume-based pricing model. However, Georgios and his team are in the process of shifting towards performance-based pricing. This means the company’s fees will be tied to the actual impact on clients’ revenue, savings, or margins, aligning Baresquare’s success with that of its clients.

Inspiration for the Business

At a time when AI and data-driven marketing weren’t as closely linked, Georgios saw an untapped opportunity. He believed data held transformative power and could drive real results, even if the market wasn’t fully prepared. Early on, the team experimented heavily, working to unlock the full potential of data. Today, they call this approach “Agentic AI.”

Funding the Journey

In its early years, Baresquare was bootstrapped, with Georgios investing $2 million of his own funds into the development of the platform. Eventually, strategic investors who believed in the long-term vision of the company contributed an additional $3 million. These funds were instrumental in accelerating the platform’s development and expanding its market reach.

Attracting the First Clients

From the outset, Baresquare refused to choose between innovation and customer intimacy. Georgios believed in balancing both. His team developed cutting-edge AI solutions while building deep relationships with clients, living their challenges, and fine-tuning the platform to meet their needs. This approach helped attract the company’s first clients and laid the foundation for future growth.

The First Year in Business

The first year for Baresquare, much like any startup, was filled with challenges. Georgios likened it to a road trip without a map or destination. The UK proved to be a welcoming environment for the startup, providing a solid foundation for Baresquare to establish its value proposition. Although there were many failures and pivots, this critical first year was also one of the most productive and emotionally satisfying for Georgios and his team.

Growing the Business

Baresquare initially experimented with several growth strategies, such as cold calls, networking events, and a freemium launch on Product Hunt. However, these approaches weren’t as effective as expected. The team soon realized that focusing on expanding use cases with existing clients and leveraging word-of-mouth referrals was the best growth strategy for their innovative solutions.

Overcoming Challenges

One of the biggest challenges Baresquare faced was waiting for the market to catch up with its vision. Georgios described it as “lighting a fire with damp wood”—a slow and challenging process. For years, the company had been building anomaly detection triggers and action workflows in natural language, long before the advent of GenAI technologies. The human bottleneck in understanding and acting on insights was a major obstacle. However, with the rise of large language models (LLMs), Baresquare is now in a position to capitalize on its years of groundwork.

Keys to Success

Solving real problems has been the most significant key to Baresquare’s success. While many startups work on interesting projects, not all of them address genuine issues. Baresquare’s ability to identify and solve universal problems has resonated across sectors, setting it apart in the crowded AI and analytics space.

Building the Team

Georgios credits much of the company’s success to his dedicated team. The team shares his vision of revolutionizing data analytics and has deep expertise in data-driven decision-making. Together, they’ve built a robust platform that meets the needs of clients across various industries.

Lessons Learned

One of the most important lessons Georgios learned as a leader is the paradox of control. While it’s true that much of life and business is beyond one’s control, acting as though one has agency is essential for maintaining clarity and purpose. This mindset has been key to keeping the team focused and achieving meaningful outcomes.

What Sets Baresquare Apart

Baresquare stands out as a GenAI-native platform, utilizing proprietary algorithms for anomaly detection and natural language generation. Unlike competitors, Baresquare’s solutions are built for the future, offering more than just thin ChatGPT wrappers. Its enterprise-grade solutions provide rapid access to insights and actions, setting it apart from both established players and newer startups.

Inspiration and Learning Resource

Georgios stays informed through “The Neuron,” an AI-focused daily newsletter, and the “Freakonomics” podcast. Books like *Death by Meeting* and *The Hard Thing About Hard Things* have also been instrumental in shaping his approach to building a successful startup.

Through perseverance, innovation, and a deep understanding of customer needs, Georgios Grigoriadis has built Baresquare into a company ready to revolutionize the world of eCommerce analytics with its AI-powered platform.