Web accessibility solution provider AccessiBe said it has completed additional funding from US-based K1 Investment Management, bringing the total capital raised in its series A round to US$28 million.
In May 2020, the company initially secured US$12 million from K1 Investment Management as part of the round.
Founded in 2018, AccessiBe makes websites more accessible for people with disabilities. Its technology scans and modifies the code and behavior of websites in real time to make web accessibility “simple, automatic, immediate, and affordable,” according to the company.
The firm claims its annual recurring revenue grew by over 3.5x in the last 12 months.
With the new funds, the Israeli firm plans to expand its US presence and continue educating the market on the importance of making the internet more accessible. According to AccessiBe, the Covid-19 pandemic drew attention to the need for more universally friendly sites.
Moving forward, the firm will also invest in its research and development department. The company employs individuals with disabilities to test its solution and advise on further improvements. Over the next few months, it plans to increase the number of people with disabilities on the payroll for its testing and advisory focus groups.
“For millions of consumers with disabilities around the world, online shopping, digital entertainment, and even important public health information is out of reach, closed off in non-accessible sites,” said AccessiBe CEO Shir Ekerling.
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