accessiBe Secures $12 Million Investment from Leading Investment Firm K1 Investment Management
TEL AVIV, Israel, May 13, 2020 /PRNewswire/ -- accessiBe, the market-leading provider of AI-powered web accessibility solutions, today announced it closed a significant investment from K1 Investment Management, LLC ("K1"), a leading investment firm focusing on high-growth enterprise software companies. The $12 million investment provides accessiBe with significant resources to build on its strong growth trajectory, aggressively scale operations in North America, and support its tens of thousands of customers and partners.
accessiBe's product automates the process by which companies and website owners make their content accessible to users with visual, hearing and motor impairments, as well as other functional disabilities. accessiBe's AI-based solution scans websites and automatically provides key modifications to transmit data and accessible content to end-users in a manner compliant with international and US disability standards, including Web Content Accessibility Guidelines ("WCAG") and the Americans with Disabilities Act ("ADA"). This plug-and-play solution is a result of years of development and has resulted in industry-leading customer, user and partner satisfaction scores.
"What excites us most about our partnership with K1 is that now, with the amazing support of our investors, we can bring accessibility to the world," said Shir Ekerling, Co-founder and CEO of accessiBe. "Our vision is to make the internet truly accessible to everyone. By utilizing machine learning, our solution can help millions of businesses comply with legislation and avoid lawsuits on the one hand, while enabling users with disabilities to browse the internet effectively on the other. It's a win-win."
accessiBe solves the accessibility needs of thousands of small and medium-sized businesses ("SMBs") as well as enterprises, mostly through partnerships with companies like RealPage, BigCommerce, Volusion, WebFX, Digital Ocean and thousands of web and digital agencies who need to provide accessible websites for their clients.
"Our mission is to bring web development within the technical and economic reach of anyone in the world," said Aaron Geller, GTM Lead at DigitalOcean. "To that end, we are excited to collaborate with accessiBe to make the internet fully accessible and make it easier for anyone to build their dream."
Digital accessibility for businesses worldwide and throughout America has become top of mind for companies due to landmark recent litigation, leading to a spike in awareness for accessibility requirements. SMBs now need to adopt a solution that quickly and affordably facilitates website compliance and accessibility.
In addition to providing customers with an accessible website, accessiBe also helps businesses uncover lost revenue opportunities from disabled users who would not otherwise be able to access their online presence to purchase goods and services.
"K1 is excited to partner with Shir Ekerling and the accessiBe team as they continue their rapid global expansion," said Mike Velcich, Principal at K1. "accessiBe has a highly differentiated product and unique approach to solving a critical need for all businesses with a web presence. The company helps its customers create a digital presence that is accessible to all visitors and potential customers."
About accessiBe
accessiBe provides the first and only AI-powered web accessibility solution that makes web accessibility simple, automatic, immediate and affordable. Founded in early 2018, accessiBe's proprietary technology scans and modifies websites' code and behavior in real time, to be accessible for people with disabilities and compliant with the ADA and WCAG 2.1. accessiBe's founding team has deep domain expertise in the field of website creation and digital marketing and created the technology in close partnership with users suffering from visual impairment, epilepsy, motor impairments and cognitive disfunctions. To learn more, please visit: accessibe.com.
About K1
K1 builds category leading enterprise software companies. As a global investment firm, K1 assists high-growth businesses to achieve successful outcomes, and invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. With over 90 professionals, K1 changes industry landscapes by assisting with operationally-focused growth strategies designed to assist portfolio companies scale efficiently. Since inception of the firm, K1 has partnered with over 125 enterprise software companies including industry leaders such as Apttus, Buildium, Checkmarx, Clarizen, ControlUp, Emburse, Granicus, Litera Microsystems, Onit, Rave Mobile Safety, RFPIO, Smarsh, WorkForce Software and Zapproved. For more information about K1, please visit: k1capital.com or linkedin.com/company/k1im.
SOURCE K1 Investment Management
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