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BGF continues to back North-East firms
Just days after funding an MSP in the region, the finance specialist has extended the support it provides for accessibility specialist Recite Me
BGF has continued to plough millions into backing channel players, making its second move in the space of a week to award funds to firms in the North-East.
Last week, managed service provider (MSP) ITC Service landed a £7m investment to grow the business from capital investor BGF, which identified the business potential the MSP offered.
The finance specialist has followed that up by committing a further £4.6m to support website accessibility software player Recite Me.
The Gateshead-based business is following a strategy that includes expanding its product offering to become an end-to-end online accessibility specialist.
The firm helps those with visual impairments, disabilities and learning difficulties who would find using the web a struggle without accessibility support.
“This marks a significant step forward in our growth ambitions and is another positive milestone on our investment journey with BGF,” said Recite Me CEO Ross Linnett.
“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.”
Value in investment
BGF has previously backed the business, and the latest round of funding takes the total invested by the finance firm to £8.8m. BGF investor John Healey said it had tracked the development of the business and saw the value in adding to its support for the firm. “Since 2012, Ross and the team have built up a strong reputation as leaders in website accessibility software in the UK,” he said. “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.”
Technology plays a vital role in helping those with difficulties, enabling more people to participate in activities they enjoy.
Another example came earlier this autumn, when football club Crystal Palace, in partnership with GiveVision and Shared Access, offered a vision-enhancement system for fans with sight loss.
The system uses a private 5G system operating on its own radio band to provide an uninterrupted live feed of the action that users can view on a headset.
Sharon Lacey, chief operating officer of Crystal Palace, said it was important for everyone to be able to watch the game. “As a club, Crystal Palace FC are proud to be inclusive, and want everyone to enjoy the unique experience of a matchday at Selhurst Park,” she said.
Joanna Liddington, head of operations at GiveVision, said technology had the ability to unlock experiences that many took for granted to a wider number of people. “Our goal is to make sure football is an equal playing field for all, creating a more inclusive and immersive experience for every supporters,” she said.
