Evinced Secures $55M Series C to Drive Global Lead in AI-Driven Digital Accessibility

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Dec 12, 2024, 09:30 ET

Evinced's software-based, prevention-first approach to accessibility is adopted by even more Global 500 corporations

PALO ALTO, Calif., Dec. 12, 2024 /PRNewswire/ -- Evinced, the leading software company powering accessible web and mobile development, today announced it has raised $55 million in Series C funding, bringing its total funding to-date to $112 million. The round was led by existing investor Insight Partners, a global software investor, with participation from existing investors M12 (Microsoft's venture fund), BGV, Capital One Ventures, and Engineering Capital. Evinced also welcomed a new investor, Vertex Ventures.

As regulatory pressures increase and the importance of digital accessibility is understood, companies are finding that the best way to ensure digital accessibility is to build it into every step of the development life cycle. Evinced's broad portfolio of tools for designers, developers, QA engineers and managers make that possible, with best-in-class defect detection, fix suggestions, and ease of use. Evinced is a pioneer in AI-based approaches that enable detection of problems that used to require purely manual approaches, and in generative AI accessibility solutions that are reliable and scalable across the enterprise.

This latest round of funding will accelerate Evinced's mission through strategic investments in four key areas:

Expanding the company's European presence and customer base
Growing its global sales and customer success teams
Enhancing R&D capabilities in generative AI solutions
Developing new products and services to meet evolving market needs.

"This funding round is a clear indication that digital accessibility is now a business imperative, not just an option," said Navin Thadani, CEO and founder of Evinced. "The continued support from our existing investors and the addition of Vertex Ventures reflects their belief in our ability to address accessibility challenges at scale. As we expand into Europe, which faces even more regulatory pressure, we're also investing in accelerating our development of generative AI capabilities that complement our core mission of empowering developers to build inclusive digital experiences from the start."

Evinced's rapid adoption since 2021 means its software is now trusted by some of the world's leading companies, including financial institutions with collectively $26 trillion of assets, five of the ten largest media companies in the US and UK, three of the five largest B2B SaaS companies in the US, three of the 10 largest healthcare companies in the US, and two of the five largest retailers in the US.

"We're excited to deepen our partnership with Evinced through this new investment," said Michael Yamnitsky, Managing Director at Insight Partners. "Evinced brings an AI-driven platform approach to accessibility management, replacing expensive and tedious manual audits and ad-hoc solutions. We couldn't be more thrilled to support them on their mission to embed accessibility into the software development lifecycle."

Evinced expects its dramatic growth to continue, as more companies run into the headaches that legacy approaches to accessibility present, as US courts continue to interpret the ADA in light of digital properties, and as European companies are required by statute to become accessible by the end of June 2025.

To learn more about Evinced's products, please visit: www.evinced.com

About Evinced
Since launching in 2021, Evinced is the leading software for integrating accessibility into web and mobile development at the world's largest, most accessibility-committed companies. Evinced's powerful suite of tools enable developers and accessibility professionals to automatically find, cluster, and track accessibility issues, reduce reliance on manual processes, minimize risk, and speed up their time to market. Evinced is headquartered in California, with offices across the US, Europe, and Israel, and is backed by leading investors like Insight Partners, M12 (Microsoft's venture arm), BGV, Capital One Ventures, Vertex Ventures, and others.

About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2024, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.

SOURCE Evinced