# Dovetail Research Pty.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/dovetail-research-pty

- Industry: Internet
- Headquarters: Sydney, Australia
- Website: www.dovetailapp.com
- Total disclosed funding: $54M
- Latest round: Series A (Nov 12, 2021)
- Investors on record: 5

## About

Dovetail Research Pty. Ltd., based in Australia, specializes in AI-powered customer insights, transforming qualitative data into actionable insights to enhance product decision-making for businesses across various sectors.Dovetail Research Pty. Ltd. provides a platform that assists organizations in analyzing customer feedback to inform their product strategy. Founded in 2017 in Sydney, Australia, it has undergone no significant pivot in its business strategy since inception. The company was co-founded by Ash Fogelberg, Benjamin Humphrey, Bradley Ayers, and Nick Frandsen, with Benjamin Humphrey currently serving as CEO. Dovetail has successfully raised AUD 64.37 million in its latest funding round, a Series A round led by Accel, with additional investment from Blackbird, Felicis Ventures, and Grok Ventures, contributing to a total of AUD 64.37 million raised to date. The company has completed three deals, with the most recent one occurring on November 12, 2021, and currently boasts a valuation of AUD 995.39 million.Dovetail offers an AI-powered customer insights hub designed to facilitate product decision-making by transforming conversations, documents, and surveys into actionable insights. Their core product includes an AI analysis platform that can automatically classify and analyze various forms of customer feedback, such as interviews, usability tests, and survey results. With features like theme discovery and real-time trend analysis, Dovetail aims to empower teams to centralize customer insights and improve collaboration through integrations with tools like Slack and Microsoft Teams. The solution is particularly beneficial for product managers, UX researchers, and customer success teams in industries such as technology, consumer goods, and services, helping organizations better understand and respond to customer needs. Dovetail's products are utilized primarily in North America, Europe, and Asia-Pacific markets, enabling a wide range of organizations to harness the power of customer feedback effectively.Dovetail generates revenue through a subscription-based model, providing its AI-driven insights platform to organizations across various sectors. Clients typically engage with the company through direct service agreements, which grant them access to the platform's functionalities, including customer recruitment from a verified database of over 3 million professionals and consumers. Each subscription tier is designed to cater to different organizational needs, allowing flexibility for small teams to larger enterprises. The pricing structure reflects the depth of features offered, including project management capabilities, automated insights generation, and customer feedback analysis. Dovetail’s flagship service enables organizations to streamline their research processes and enhance their customer-centric strategies, thereby driving product innovation and improving overall user experience.In November 2021, Dovetail Research Pty. Ltd. raised AUD 64.36 million in Series A funding led by Accel, with participation from returning investors Blackbird, Felicis Ventures, and Grok Ventures, as well as other individual investors. The company plans to utilize this funding to invest in its product suites and expand its presence in the US market. Dovetail is focused on developing new products to enhance its offerings, although specific upcoming product launches have not been disclosed. Additionally, it aims to strengthen its market position within North America by targeting strategic partnerships and increasing its customer base in the region.

## Funding rounds

- Series A, Nov 12, 2021, $47M — Accel, Felicis Ventures, Blackbird, Grok Ventures
- Seed, Dec 21, 2020, $3.8M — Felicis Ventures, Blackbird, Grok Ventures
- Seed, Sep 27, 2019, $2.7M — Felicis Ventures, Blackbird, Grok Ventures, Dreamers Holdings Pty Limited

## Investors

- Felicis Ventures (https://capitalatlas.ai/funds/felicis-ventures) — Seed, Series A
- Blackbird (https://capitalatlas.ai/funds/blackbird) — Seed, Series A
- Grok Ventures — Seed, Series A
- Dreamers Holdings Pty Limited — Seed
- Accel (https://capitalatlas.ai/funds/accel) — Series A