From a one-week prototype to a £1 million valuation in a year – financiers vote to invest in doopoll
Following the securing of its first round of investment,
digital company doopoll has announced that it has been valued at £1
million just one year after start-up.
doopoll is an online polling platform which aims to
revolutionise the way businesses and organisations make decisions.
The seven figure valuation was calculated by Finance Wales who
alongside a private investor, have supported the start-up with its
first funding package.
In 2015, doopoll’s co-founders Marc Thomas, Steve Dimmick and Sam
Goudie, set out with an ambitious plan to open up the
decision-making process to a wider audience by removing the
barriers to inclusive and honest feedback.
Their product is a platform that focuses on honest, instinctive
responses, and fast feedback. The company’s co-founders believe
consensus facilitates change and that valuable information is lost
for many reasons, whether that is a matter of engagement,
accessibility, technology, or hierarchy. Inaccurate data can emerge
from social bias from an employer or colleague, technological
restraints impairing ability to participate or the inability to
accommodate changes in the conversation.
The platform is available on any device and uses anonymous
voting and live feedback. Users can react fast, rewording or adding
new questions which emerge or deleting unnecessary ones.
Though the initial doopoll prototype was developed within a week,
the platform is already being used on almost every continent. The
platform is currently available in English, Welsh and French with
plans to support more languages. Users include French liquor group
Pernod Ricard, National Museum of Wales and Swansea University
School of Management.
That success attracted the attention of IT industry expert,
entrepreneur and angel investor Konrad Litwin. Recognising
doopoll’s applications and growth potential, he chose to invest in
the company alongside Finance Wales.
Explaining his reasons for supporting doopoll, Mr Litwin said:
"This passionate management team are disrupting a niche that has
become a vital but rarely welcome part of online life and
transformed it into a dynamic feedback experience for both sides.
It will only be a short time before the market is trying to play
catch up with this innovative solution. I am delighted to be a part
of this exciting journey that is already reaching a global
This year also saw doopoll win the Sir Michael Moritz Tech
Start-up Award at the 2016 ESTnet Awards. Following that, doopoll
has been accepted to join ideas.fund, Wales’ first tech accelerator
programme, which aims to identify start-ups in Wales that have the
potential for rapid growth.
Steve Smith, Director of Technology Venture Investments at
Finance Wales, said: “doopoll are an award-winning, innovative
technology business with the ambition and potential to become
international market leaders. We were pleased to co-invest
alongside Konrad Litwin, an experienced IT entrepreneur, to provide
the company with the growth capital it needs to increase its
operational capacity and continue to develop its online
Looking forward, doopoll’s co-founders are keen to continue with
the global mind-set that has seen the beta version used on every
continent bar Antarctica. The company is recruiting and as the
platform transitions from its beta stage, doopoll is in
conversations with developers around the world.
Reflecting on the company’s development to date and plans for the
future, Steve Dimmick, co-founder of doopoll and head of
enterprise, said: “After a lot of hard work over the last year,
this investment allows doopoll to accelerate our growth. We're
thrilled to be partnering with Finance Wales and Konrad. It's a
fantastic milestone for us, building on our achievements to date
and giving us a platform for future success. We will now be
building a global team and working with great international brands,
both in and outside of Wales, to improve the process behind the
decisions that drive their businesses.”