Funding to Accelerate Development of the Company's Web Governance Platform and Expansion Into New Markets
SYDNEY, Jan. 28, 2020 /PRNewswire/ -- Monsido, a leader in web governance solutions that enhance user experience, today announced it has secured USD$16.9 million in funding from Level Equity, a growth equity firm based in New York and San Francisco, and Vaekstfonden, the Danish state investment fund. Monsido will use the new capital to continue to develop its platform and expand in North American, EU, and Asia-Pacific markets.
Monsido has quickly grown since its founding in 2014, doubling revenue in each of the last two years and establishing offices in Copenhagen, San Diego, and Sydney. The company's all-in-one web governance platform helps organisations optimise their website by scanning for quality assurance, content, SEO, and accessibility issues.
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Website users today expect an error-free and accessible web experience. As the digital landscape becomes increasingly complex, organisations want to solve website problems using automated, easy-to-use tools.
Digital accessibility is a growing market trend for businesses in the United States and around the world as more legislation is being passed to ensure websites are accessible for all users, including those with disabilities.
Monsido helps organisations quickly address web accessibility on a single platform alongside other common website errors, enabling businesses to strengthen their brand reputation and increase their bottom line.
Jannik Groentved, CEO, Monsido, said:
"Level Equity and Vaekstfonden will be strong strategic partners as we expand Monsido's operations in 2020. Their support validates our vision to help our customers provide a fully optimised and accessible web experience. This investment will help us expand the platform to offer even better insights, as well as scale in our current markets and enter new ones."
Sarah Sommer, Partner, Level Equity, said:
"Monsido has an innovative product combined with a strong management team. An error-free and accessible web experience is becoming critical for both private and public sector organisations. As a result, we believe their platform has far-reaching potential in the United States and Europe. We are excited to partner with them in the next stage of their growth."
Jacob Bratting Pedersen, Partner - VF Venture, Vaekstfonden, said:
"Monsido has created a strong software platform that addresses business-critical needs. We are proud to be a part of their initial success and it is gratifying to continue to fund their global expansion."
About Monsido
Monsido is a fast-growing software company founded in 2014 that provides a one-stop web governance solution designed to give website visitors a superior browsing experience. Our time-saving auditing tool provides accurate and insightful information that helps organisations work with confidence to identify accessibility and quality assurance issues. This enables them to optimise their online presence and ensure compliance with legal requirements. Monsido has offices in the United States, Australia, and Denmark. For more information, visit www.monsido.com.
About Level Equity
Based in New York, NY and San Francisco, CA, Level Equity is a growth equity firm focused on providing capital to rapidly growing software and internet companies. The firm manages over $1.7 billion across a series of long term committed investment partnerships. For more information about Level Equity, visit levelequity.com.
About Vaekstfonden
Vaekstfonden is Denmark's state investment fund, which works to strengthen Danish companies' access to venture capital so that they can create innovation, growth, and jobs. In close partnerships with banks and private investors from home and abroad, Vaekstfonden finances companies from a wide range of industries across the country. Since 1992, Vaekstfonden has co-financed growth in over 7,900 companies for a total commitment of more than €3 billion.
