Recite Me Secures £4.6 Million Investment from BGF for Growth
Deal News | Nov 26, 2024 | Business Growth Fund (BGF)
Based in Gateshead, UK, web accessibility software company Recite Me has received a follow-on investment of £4.6 million from Business Growth Fund (BGF), marking an exciting new growth phase for the business. The investment brings BGF's total contribution to Recite Me to £8.8 million. Recite Me's technology is designed to improve website accessibility for those with disabilities, impairments, learning difficulties, and language barriers. This new funding will help the company expand internationally and enhance its product offerings, aiming to become a comprehensive online accessibility specialist. Thus far, Recite Me has assisted over 7 million users in regions including Europe, the United States, and Australia, with the goal of increasing its global reach. BGF investor John Healey praised the company, noting the vast market potential given that 98% of global websites have accessibility issues.
Sectors
- Technology
- Investment
Geography
- United Kingdom – Recite Me is based in Gateshead, UK, and BGF is also a UK-based investment firm.
- Global – Recite Me aims to expand its services and has existing users in Europe, the United States, and Australia.
Industry
- Technology – The article discusses Recite Me, a technology company providing assistive technology for website accessibility.
- Investment – Business Growth Fund (BGF)'s investment into Recite Me is an example of private equity and venture capital activity.
Financials
- £4.6 million – The follow-on investment committed by BGF to support Recite Me's growth.
- £8.8 million – Total investment by BGF in Recite Me, including prior funding rounds.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Recite Me | Target Company | Company | A company that provides web accessibility software and recently received investment to expand its reach and product offerings. |
| Business Growth Fund (BGF) | Investor | Company | A prominent UK-based investment firm providing growth capital for ambitious companies. |
| John Healey | Investor | Person | An investor with BGF, commenting on the investment in Recite Me. |
| Ross | CEO | Person | Part of the leadership team at Recite Me noted for building its reputation as a leader in web accessibility. |