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Dovetail Raises $63M To Grow Its Researcher-Focused Software Business

PRIVATEJan 19, 2022•over 4 years ago

Amount Raised

$63 Million

Round Type

Funding Round

Sydney

Description

Australian user research software company Dovetail announced today that it has closed a $63 million Series A led by Accel. The company has now raised just over $70 million in total, and it added its new capital at a valuation that it describes as “north” of $700 million.

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.

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