A trio of repeat founders have marked their return to the Queensland tech scene with a A$2 million Seed Round for their product engagement analytics platform, cornerstoned by QIC Ventures and Atlassian Ventures.
Reuniting former ThinkTilt and Atlassian colleagues Simon Herd, Kate Caldecott and Peter Preston, Accoil Analytics automatically collects and organises customer clicks, events, traits, engagement, activation and adoption to help companies understand their users in-depth and improve their products with maximum agility.
The investment will allow Accoil Analytics to scale its operational footprint in Queensland, supporting the company’s team build out, product relaunch and global expansion strategy.
QIC Ventures’ Nick Capell said the founders’ long history of building companies together reflects what can be achieved from the Queensland market.
“Simon, Kate and Peter have a great track record of building products that solve real problems that are important to their customers,” Capell said. “We’ve seen that dating back to 1999 in Simon and Kate’s case with Our Community, and bringing Peter on board with ThinkTilt in 2018, where QIC Ventures first invested in the group. We’re excited to be partnering with them again as they leverage their lived experience and relationships in the Atlassian Marketplace with Accoil, supporting the shift from intuition-based to data-driven digital product builds responsive to individual end user behaviours.
“Accepting digitisation is here to stay and, so too the tethered demand for digital product analytics, Accoil Analytics is well-positioned for growth. It’s a big market, with some large players already in the space – but we’re backing the team to build another great solution.”
Accoil Analytics co-CEO Peter Preston said the core challenge for B2B companies was not just measuring customer engagement but deriving meaningful and actionable insights from product analytics solutions.
“At Accoil, our approach is straightforward – we provide the essential data that dynamic product, marketing, support and sales teams require to excel, leaving the intricate details to the analysts,” Preston said.
“Our GTM team is publishing what we think will be the best resource available on product analytics and product engagement for B2B Saas teams, bringing a strong but friendly voice to a market that can otherwise be a bit dry. While there’s definitely a pull to larger metro areas, we’re building out Accoil Analytics from Queensland because we know there is world-class talent here with the skills and ambition we’re looking for.”
The founding team recently returned from SaaStock Europe in Dublin sponsoring a booth and meeting with customers and potential partners.
“Events have long been a staple of our go-to-market strategy, so we’re keen to get out and connect with prospective customers and partners,” Preston said.
“We believe strongly in the idea that product engagement data is most helpful to product managers, marketers, sales and success teams when it’s in the tools they already use. That’s why we’re also leaning in on integrations with leading customer communications tools like Intercom, Hubspot, and Segment.”
QIC Ventures has invested via its early-stage $24 million Enterprise Acceleration Fund, which backs Queensland businesses with the potential to build scaled, global platforms.
To find out more about Accoil Analytics, head to www.accoil.com.
For more information about the QIC-managed Enterprise Acceleration Fund, visit QIC Ventures.
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Investing from seed to Series C, QIC Ventures has partnered with more than 80 world-class companies taking Australian innovation global since 2016, including Go1, Gilmour Space and VALD. It sits within the institutional QIC Private Equity platform, which manages A$9.2 billion1 globally in private equity assets from offices in the US, Europe and Australia.