Dovetail raises $63M to grow its researcher-focused software business –

Given that the Dovetail round is not our standard Series A fare, let’s take moment and talk through the deal, starting with the company’s early history and what’s it’s building. After that, he co-founded Dovetail without the intention of raising venture capital, instead planning to build the company along the lines of Buffer and Basecamp, well-known technology firms that have pursued a more self-funded approach to growth. The company’s focus on building software for the user research market might sound niche, but Dovetail found enough traction in its early days to scale to a team of six with around a half-million dollars in annual revenue under its own power. Software companies don’t tend to grow sans material burn in today’s market, which means that customers were showing up to buy what Dovetail is building. Dovetail’s product is software that allows customers to collect user feedback data from NPS (net promoter score) surveys, audio, video and text answers, which are then tagged by teams, machine-analyzed and shared across an organization.