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Customer Research Platform Dovetail Valued North Of $700 Million Following $63 Million Series A Led By Accel

Jan 19, 2022•over 3 years ago

Amount Raised

$63 Million

Round Type

series a

Sydney

Description

Dovetail, the leading customer research platform, today announces it has closed $63 million USD in Series A financing led by Accel, with participation from existing investors including Blackbird and Felicis Ventures, at a post-money valuation north of $700 million USD. This brings Dovetail’s total funding to $71 million USD since the company was started in 2017. The new capital will support Dovetail’s continued investment in building the system of record for an organization’s customer knowledge. Dovetail’s 2,600+ customers include many of the world’s most innovative companies including Affirm, Arm, Atlassian, Canva, Deloitte, PwC, Porsche, Shopify, Starbucks, and Workday.

Company Information

Company

Dovetail

Location

Sydney, New South Wales, Australia

About

”Dovetail began working with Afterpay in 2017, when the company had less than 40 employees. Before they started Dovetail, Frandsen and co-founder Ash Fogelberg’s startup, ticketing and payments platform 1-Night, was acquired by TicketDirect in 2013.Dovetail’s venture studio is sector-agnostic (though it has strong experience in fintech, SaaS and marketplaces), and works with startups that may not have a product yet, but have founders who “are ambitious, commercially-savvy and bring industry expertise from the field in which they are trying to solve a problem,” said Frandsen. Dovetail has a product agency that serves mostly U.S. companies, but its venture studio is currently focused on Australasian startups, with plans to expand into North America in the future. , Dovetail is a full-service venture studio that works closely with founders who have a great idea, but may lack technical backgrounds.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech