A Gateshead software company which helps those who are dyslexic and visually impaired use the internet has been given a £4.2m investment boost.
Ross Linnett launched Recite Me in 2010, after he was diagnosed with dyslexia when he left university and discovered that 86% of websites were not accessible to people with low levels of visual impairment or dyslexia. He was working on a laptop with integrated assistive technology and wondered why all websites didn’t have similar functions, prompting him to develop innovative software in the form of a plugin toolbar for websites that opens extensive accessibility and language functionality, allowing users to customise their online experience.
The technology takes away online obstacles for those with disabilities, visual impairments, learning difficulties, the older population and those who speak English as a second language. Now capital investors Business Growth Fund (BGF) have ploughed £4.2m into the business to aid its next phase of growth.
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CEO Mr Linnett said: “We pioneered the assistive technology sector when we launched over a decade ago and have successfully grown the business to be a market leader, but our mission doesn’t stop here as we aim to help millions of people access online content around the world. To galvanise our growth, we were looking for investment partners who shared our values and ambitions and brought their experience of scaling businesses to the next level. BGF was the obvious choice, and we look forward to working with them to invest further in our technology, team and infrastructure so our tech can benefit even more people across the world.
“It was important to us to work with an investor based in the North East, who truly understands the lay of the land and is committed to backing the businesses based here. There’s a really exciting digital economy in the region and as funding options have narrowed in recent years, there’s a big opportunity for BGF and the wider North East tech sector to work together to drive collective growth.”
Recite Me’s technology has provided support to more than 5.4 million users across the UK, US, and Australia, over the last 12 months. This has resulted in the customisation of online experiences for all users, enabling people to read and understand content on over 34 million web pages.
The company also counts household brands such as Boots, Coca Cola and VW among its customers. The deal was led by BGF investors John Healey and James Baker. Steve Nelson is the non-executive chair, and an early investor at Recite Me and continues in this role. He is also a non-executive director at BGF-backed SaleCycle and several other North East based international tech companies.
Mr Healey said: “Recite Me has huge potential for expansion. Despite the fact there’s a growing population of people who would benefit from this technology and the increased focus on diversity and inclusion, 98% of the world’s websites currently have limited or no accessibility functionality. This North East innovation is having a life-changing impact for web users across the world, as well as allowing brands to reach a wider audience and enhance their customer experience.
“We strongly believe in Recite Me founder Ross Linnett and the team he has brought together to support his mission of providing inclusive experiences online for all across the world through tech for good.”
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