Gateshead firm Recite Me secures £4.6m investment from backer BGF

Tyneside-based digital accessibility tech firm, Recite Me, has secured a £4.6m investment from BGF, marking its second significant financial boost in recent years.

The Gateshead software creator, which aids dyslexic and visually impaired individuals in using the internet, said the funding marks a significant step in its growth plan. It follows a £4.2m injection from BGF in March 2023.

Recite Me was established in 2009 by entrepreneur Ross Linnett, who was diagnosed with dyslexia and found most websites inaccessible for people like him. This led him to develop a plugin tool that allows users to customise their browsing experience. Starting with just four employees, the Recite Me team has now expanded to around 100 staff members, with its technology being utilised by over seven million people globally.

The software is designed to overcome online barriers for those with disabilities, visual impairments, learning difficulties, older individuals, and those for whom English is a second language. The company also provides free accessibility training covering web accessibility standards, assistive technologies, and designing inclusive digital experiences.

Mr Linnett said: "This marks a significant step forward in our growth ambitions and is another positive milestone on our investment journey with BGF. In the last 12 months, our pioneering technology has supported more than seven million users across Europe, the United States and Australia. Our ambition is to extend that reach – not only to accelerate our own growth, but to help millions more people to access online content around the world.", reports Business Live.

The additional funding indicates an exciting expansion phase for Recite Me as the company aims to broaden its accessibility services. With this additional equity funding, BGF's total investment in Recite Me amounts to £8.8m.

BGF investor John Healey spoke about the impact of the financing: "Since 2012, Ross and the team have built up a strong reputation as leaders in website accessibility software in the UK. However, the market potential is vast with 98% of the world's websites having accessibility issues. The follow-on funding will enable the team to strengthen their position in this exciting and attractive market, while investing further to develop their industry-leading technology that to date has had a fundamental impact on the lives of millions of people across the world."