Israeli web accessibility company accessiBe today announced the completion of its Series A financing round by raising $16 million from K1 Investment Management. In addition to the $12 million raised from K1 in May 2020, this brings the rounmd to $28 million. The company said that its annual recurring revenue grew more than 3.5x in the last 12 months, which led to additional funding from K1.
The company was founded in 2018 by CEO Shir Ekerling, CRO Gal Vizel and COO Dekel Skoop. accessiBe has 75 employees in Ramat Gan, up from 47 when it raised funds last May. accessiBe plans to use the funds to significantly expand its US presence, and expand its R&D department.
Ekerling said, "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. By making web accessibility simple and affordable to any size of business, we are changing that reality," he continued.
Educating the market and raising awareness of the issue of web accessibility are key goals for accessiBe. Covid-19 and the digital transformation that it provoked have helped draw attention to the need for accessible sites, and the accessiBe team plans to keep the issue at the forefront for website and business owners.
accessiBe utilizes two applications that together achieve full compliance. The accessibility interface is responsible for all the UI and design-related adjustments, while the AI-powered background process handles the more complex requirements - optimization for screen-readers and for keyboard navigation.
The company’s plan to further invest in R&D is crucial in accelerating its growth and refining its product. accessiBe employs individuals with disabilities to test its solution and advise on further improvements, and over the next few months, the company plans to significantly increase the number of people with disabilities on the payroll for its testing and advisory focus groups.
Published by Globes, Israel business news - en.globes.co.il - on February 10, 2021
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