A $38 million Series B fundraising round has been announced by Evinced, the top software provider enabling accessible online and mobile development. The round, which brought the total amount to $57 million, was led by international software investor Insight Partners with participation from current investors M12 (Microsoft's venture fund), BGV, Capital One Ventures, and Engineering Capital.
A software-first approach
Large corporations know that providing the broadest possible access to their websites and mobile apps is a smart business strategy. However, organizations have traditionally relied on costly, infrequent manual audits and sizable, mostly external service consulting teams to direct their engineers. Because of Evinced's "software-first" philosophy, accessibility is firmly anchored in every line of code that programmers enter into the software development process. As a result, internal engineering leadership and accessibility resources may collaborate effectively to increase time to market while lowering business risk significantly.
Evinced's web and mobile accessibility solutions have been smoothly incorporated into the business development processes of a variety of forward-thinking companies since their introduction in 2021, including:
- Four of the top ten financial institutions in the country
- two of the top three B2B SaaS providers in the country
- One of the five largest healthcare organizations in the country
The technological advancements made possible by Evinced allows for automatic discovery, clustering, and tracking of accessibility concerns, which were previously only possible through laborious manual processes:
- Evinced uses computer vision to comprehend the context of each element on a screen to identify accessibility issues for users who rely on keyboard input and screen readers.
- Evinced uses AI to identify issues with color contrast on intricate backdrops.
- Evinced evaluates a site's accessibility flaws based on the coding procedures that gave rise to each issue. Customers can use these "components" to choose where to invest their limited resources most effectively in improving accessibility.
- Evinced keeps track of accessibility concerns over time and can even track remediation. It automatically recognizes which issues are brand-new and which are pre-existing.
Increasing market & the requirement for mobile
Assistive technology is necessary for at least 2.2 billion users to connect with websites and mobile applications. The demand for digital accessibility is more significant than ever due to tighter ADA compliance standards and a rise in web accessibility lawsuits.
The continuous development of Evinced's mobile products is another intriguing feature of the Series B funding. Evinced introduced the first comprehensive product portfolio in the market last year to help business developers incorporate accessibility into the creation of their iOS and Android mobile apps.
By 2025, it's expected that over 70% of internet users will only access the Internet via a smartphone. Therefore Evinced's mobile accessibility solutions are scalable and available to any enterprise developer wishing to check a mobile app for serious accessibility flaws.
Evinced, which debuted in 2021, has become the industry standard for integrating accessibility into online and mobile development at the world's most prominent, accessibility-focused organizations. With the help of Evinced's robust toolkit, developers and accessibility specialists may more quickly detect, group, and manage accessibility issues, rely less on manual procedures, take less risk, and launch products faster. With locations all around the US, Europe, and Israel, Evinced has offices in California and is supported by reputable investors, including Insight Partners, M12 (Microsoft's venture arm), BGV, Capital One Ventures, and others.
About Insight Partners
Insight Partners is a multinational software investor that collaborates with startup and scale-up businesses, transforming their industries via high-growth software, technology, and the Internet. The conclusion of the company's most recent fundraising, Fund XII, on February 24, 2022, increased Insight Partners' regulatory assets under management to above $90B. Over 600 firms have benefited from Insight Partners' investments, and over 55 of its portfolio companies have successfully gone public. Insight has offices across the globe, including New York City, London, Tel Aviv, and Palo Alto. Insight aims to identify, support, and collaborate effectively with visionary CEOs by offering them real-world, hands-on software skills to promote long-term success.