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Highlights
- Customer analytics startup, Dovetail is viewed as one of the hottest startups in the Country.
- It is anticipated that the Company has raised a significant new funding round of approximately AU$86 million in just over four years of its business.
- The Company's overseas clients include Google, Amazon, Porsche, Shopify, and SafetyCulture.
Australia's startup marketplace is booming, and it requires a lot of effort to have your presence felt here. Over the last ten years, Australia has emerged as a favourable destination for lucrative venture capital investment in tech-based startups.
These days what is creating a buzz in the startup business and viewed as one of the hottest startups in the Country is the Australian Software Company that facilitates the analysis and management of user research data, Dovetail. The Company's repository works for text, PDFs, images, video, etc. Dovetails customers include bigwigs like Deloitte, Canva, Shopify, Cisco and Boston Consulting Group.
When and how Dovetail was founded?
The Company was co-founded by two ex-Atlassians Benjamin Humphrey and Bradley Ayers. The duo worked under Mike Cannon-Brookes and Scott Farquhar for four years before venturing out on their own with software that enables organisations to collate and make sense of customer and internal data.
Dovetail’s flight so far!
Benjamin and Bradley are believed to have raised a significant new funding round just over four years into its journey. The raise is anticipated to be approximately AU$86 million. This successful capital raise has involved the participation of local and offshore investors. The Company has grown its customers to 2,500+.
Dovetail allied companies across Sydney participated in the September 2019 climate strikes demanding action and addressing climate change.
In August 2021, the customer analytics enterprise raised AU$5 million at a valuation of over AU$150 million, increasing its valuation fivefold from its previous fundraising round in the year 2020.
The Company has grown rapidly and globally in 2021, with its revenue tripling and a drastic jump in its staff members. The Company's overseas clients include Google, Amazon, Porsche, Shopify, and SafetyCulture.
Latest reports reveal that within a few years of its inception, Dovetail has successfully banked a massive AU$86 million external funding round to boost its global expansion in the upcoming year.
The Company has showcased incredible growth, and it is believed that the Company can achieve great success matching that of Atlassian if it continues with the growth momentum.
Conclusion
Undoubtedly, the Coronavirus pandemic has taken a toll on the global economy, with Australia no exception. As apprehensions surround the spread of the Omicron variant in Australia, businesses could witness a slowdown. As far as the impact of Covid –19 on Dovetail is concerned, last year, the Company had to put on hold its global physical expansion after it had to stall its plan for US office owing to border closures.
