Dovetail is an Australian-based company that produces qualitative data analysis software that facilitates the analysis and management of user research data. Users create tags to perform

transcription Transcription refers to the process of converting sounds (voice, music etc.) into letters or musical notes, or producing a copy of something in another medium, including: Genetics * Transcription (biology), the copying of DNA into RNA, the fir ...

analysis and coding interpretation of interviews, survey responses and feedback, and create summarized insights from their research analysis. In August 2021, Dovetail raised AU$5 million at a reported valuation of "more than AU$150 million"; raising its valuation fivefold from its prior fundraising round in 2020. Dovetail raised further

Series A A series A round (also known as series A financing or series A investment) is the name typically given to a company's first significant round of venture capital financing. The name refers to the class of preferred stock sold to investors in exchan ...

funding of US$63 million, led by Accel in January 2022.

History

The company was founded in 2017 in

Sydney, Australia Sydney ( ) is the capital city of the States and territories of Australia, state of New South Wales, and the most populous city in both Australia and List of cities in Oceania by population, Oceania. Located on Australia's east coast, the metro ...

by Benjamin Humphrey and Bradley Ayers. Both had worked at software company

Atlassian Atlassian Corporation () is an Australian software company that develops products for software developers, project managers and other software development teams. The company is domiciled in Delaware, with global headquarters in Sydney, Australi ...

, and Humphrey claims he started Dovetail based on his experience working with researchers at the company. Prior to the company's founding, Humphrey worked on the idea in his spare time, outsourcing the product's development and financing it with a AU$10,000 credit card debt. In 2017 he convinced Ayers to leave his role at Atlassian and join as co-founder. Dovetail is part of a cohort of companies founded by former Atlassian employees such as LaunchDarkly, Easy Agile, Pyn, and Code Barrel. In November 2017, Dovetail was awarded the AU$25,000

minimum viable product A minimum viable product (MVP) is a version of a product with just enough features to be usable by early customers who can then provide feedback for future product development. A focus on releasing an MVP means that developers potentially avoid ...

grant from the

New South Wales Department of Industry The New South Wales Department of Industry was a former department of the New South Wales Government, from 2015 until 2019. The Department of Industry was replaced by the Department of Planning, Industry and Environment in July 2019. History Th ...

''Jobs for NSW'' program. The grant was awarded to fund investment in automatic

sentiment analysis Sentiment analysis (also known as opinion mining or emotion AI) is the use of natural language processing, text analysis, computational linguistics, and biometrics to systematically identify, extract, quantify, and study affective states and subjec ...

features. In February 2020, Dovetail announced a AU$4 million

seed A seed is an embryonic plant enclosed in a protective outer covering, along with a food reserve. The formation of the seed is a part of the process of reproduction in seed plants, the spermatophytes, including the gymnosperm and angiospe ...

fundraising round led by Blackbird Ventures, with participation from Felicis Ventures and Culture Amp's CEO and co-founder Didier Elzinga to accelerate revenue growth. This raise reportedly valued Dovetail at "close to AU$30 million". In August 2021, Dovetail announced that it had raised AU$5 million from existing investors Blackbird Ventures, Felicis Ventures, along with participation from

Mike Cannon-Brookes Michael Cannon-Brookes (born 17 November 1979) is an Australian billionaire, co-founder, and co-CEO of the software company Atlassian. Cannon-Brookes often carries the epithet of ''accidental billionaire'' after he and his business partner Sco ...

' investment vehicle, Grok Ventures. In January 2022, Dovetail announced it had raised a US$63 million Series A led by Accel. New investors also included Webflow CEO and co-founder Vlad Magdalin, CEO and co-founder of Checkr, Daniel Yanisse, and CEO and co-founder of Slack,

Stewart Butterfield Daniel Stewart Butterfield (born Dharma Jeremy Butterfield; March 21, 1973) is a Canadian billionaire businessman, best known for co-founding the photo-sharing website Flickr and the team-messaging application Slack. Early life and education In ...

. Dovetail's headquarters will move in 2023 to a new office spanning 4,300 square metres over four levels located on historic

Oxford Street Oxford Street is a major road in the City of Westminster in the West End of London, running from Tottenham Court Road to Marble Arch via Oxford Circus. It is Europe's busiest shopping street, with around half a million daily visitors, and as ...

References

{{reflist

External links

Official website
Companies based in Sydney Online companies of Australia Software companies of Australia Technology companies established in 2017 QDA software Australian companies established in 2017