November 25th, 2023 – Everyangle.ai, a Dublin-based start-up, expects to clear €1 million in revenue by the end of this year, the first time the artificial intelligence business has breached that mark.
Everyangle is based at the Guinness Enterprise Centre in Dublin. The company was founded by David Owens and Piotr Gospodarczyk in 2019 and has 13 staff. They raised €2.7 million in funding last year and Furthr VC participated in this round.
The company uses anonymised data from cameras in retail spaces to give a better understanding of customer behaviour from in-person shopping.
“When a retailer grows beyond a certain point, the level of intimacy and knowledge a store has for customers is lost. We use computer vision to help the retailer understand and know who their customer is,” Owens told the Business Post.
“The level of data that a retailer has for their online retail channel is missed in the physical retail store. We’re bringing that level of data to the physical world. It tracks the whole customer journey, seeing when people visit and if they do it alone or in groups but it is all anonymous.”
The idea grew out of work Owens had previously been doing with regard to GDPR compliance around customer relationship management systems for businesses. He recognised that there was a great deal of information being caught on camera but using it to any degree, particularly in a compliant manner, was a challenge for retailers.
“We filter out the noise for entrances that can’t convert to a sale, like staff or delivery. We deal with a lot of luxury retailers that have relatively low footfall. A third of the traffic they get in a day could be staff entrances,” he said.
“Once a customer comes inside, we see where people tend to spend time in a store, their ages, their gender and all the information that can help improve staff management and customer engagement.”
The business has grown rapidly over the past four years, with it recording over 200 per cent growth in 2023 alone.
“We started in November of 2019 and the whole world shut down in March the following year. We spent around 18 months searching for the right market, we found product-market fit in retail just over a year ago” Owens said.
Everyangle is supported by Enterprise Ireland and Owens praised the agency for the assistance it had provided the business.
“Before we had any funding, we went on an investor-ready programme. That was fantastic because I’d never gone through venture capital or equity funding before. It was on that programme where we met Furthr, one of our existing investors,” Owens said.
“Following the investment, there have been other supports from courses or HR advice. Even to this day, we’re getting support on key hires. We’re in the high potential start-up unit which means we are on the founders forum. That has been incredibly valuable as a learning experience. This past year, I took part in the leadership for growth programme and that was phenomenal.”
Owens is confident the business can build on its successful 2023 to grow further into the future.
“The vast majority of our business is in the US, Canada and South America. The next step will be to have staff permanently based there to double down on the sales acceleration.”
This Making it Work article was produced in partnership with Enterprise Ireland.
