Our Series A in Dovetail: The Foundational Layer for Customer Research
Today, we are thrilled to announce our Series A investment in Dovetail, the central hub for any organization’s customer research.
Over the last few years, research has become a core pillar of the software development cycle, especially for product-led organizations. As a result, many innovative “user research” tools emerged that focus on automating core workflows like recruiting survey participants and collecting video and audio feedback. However, as the volume of user feedback has grown, the tools by which companies can manage that data, glean actionable insights, and collaborate cross-functionally have fallen short. Enter Dovetail.
Dovetail enables researchers, product managers, designers, and engineers to seamlessly ingest both quantitative and qualitative data across a variety of data sources, forming a more holistic and comprehensive view of the customer than has ever been possible. The product’s slick UI and powerful collaboration features enable this data to be shared across the entire organization, far beyond the research team. Just like great design or development, research is now an implicit part of the product development process, and Dovetail aims to take it mainstream. The product is widely loved across a diverse set of global organizations like Atlassian, Shopify, Starbucks, The New York Times, Canva, and Affirm.
When we first met co-founders Benjamin and Bradley, we were struck by their relentless commitment to building a product-led, category defining company. In particular, their focus on fostering an open, transparent and high-performing culture was very apparent. Dovetail has never lost an employee since the company was founded in 2017. And they’ve gotten this far with a scrappy and disciplined mentality, having raised less than $8M since inception with over half of that still on the balance sheet. Dovetail’s lightly capitalized approach was refreshing, and reminds us of other category-defining, capital-efficient businesses in our portfolio like Atlassian (Benjamin and Bradley's former employer), Webflow, 1Password, Tenable, Messagebird, and others. We also can’t hide our excitement around backing another tremendous Australia-based company.
In the years to come, research will be a core discipline of every organization. We believe Dovetail will be the foundational layer of that trend, and we’re honored to be working with Benjamin, Bradley, and the entire Dovetail team.