Three ex-Atlassian employees have raised $2 million in a seed round led by their former employer and Queensland’s sovereign wealth fund to get their analytics startup off the ground in Brisbane.
The startup, Accoil Analytics, measures account and user engagement with B2B software to compile lists and scores for business areas like sales and marketing. The company was co-founded by Atlassian colleagues Simon Herd, Kate Caldecott and Peter Preston.
The venture arms of the Queensland Investment Corporation (QIC) and Atlassian are cornerstones in the $2 million raise, which Accoil plans to put to operational expansion and a global expansion.
QIC and Atlassian backed the three founders’ last venture Thinktilt, a low code forms platform, before the software giant acquired it in 2021 for an undisclosed sum.
“Simon, Kate and Peter have a great track record of building products that solve real problems that are important to their customers,” QIC Ventures’ Nick Capell said in a statement.
“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.”
Accoil co-CEO Peter Preston said the startup would continue building in Brisbane despite the “pull to larger metro areas”.
He said Accoil had developed a way to derive meaningful insights from product analytics and is exploring integration with popular apps like Intercom, HubSpot and Segment.
“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,” he said.
The exact split of the QIC and Atlassian investment was not disclosed.
QIC’s share comes from its Ventures arm within the fund’ QIC Private Equity platform, which manages A$9.2 billion1 globally in private equity assets. QIC Ventures has backed dozens of startups so far, including success stories Go1 and Gilmour Space.
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