Customer analytics startup Dovetail has raised $63 million in a Series A funding round led by US venture capital firm Accel.
The fundraising valued Dovetail at over $700 million (A$970 million) and has put the five-year-old firm among the ranks of Australia’s most valuable homegrown tech startups.
The company plans to use the fresh capital to invest in its product suites and grow its presence in the US market, which accounts for the majority of its customer base.
Founded by Benjamin Humphrey and Bradley Ayers, two former colleagues at Australian software giant Atlassian TEAM.O, Dovetail’s platform helps companies gather and understand customer insights by analyzing and storing unstructured customer research data such as transcripts. The company said it serves over 2600 enterprise customers including Starbucks SBUX.O, Deloitte, and Porsche.
We’re going to be this mission-critical database for every organization, which contains all that they know about their customers across different tools in their stack, chief executive Benjamin Humphrey said in an interview.
