Monsido Announces $16.9 Million Investment by Level Equity and Vaekstfonden
Funding to Accelerate Development of the Company’s Web Governance Platform and Expansion Into New Markets
Monsido, a leader in web governance solutions that enhance user experience, announced it has secured $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 organizations optimize their website by scanning for quality assurance, content, SEO, and accessibility issues.
Website users today expect an error-free and accessible web experience. As the digital landscape becomes increasingly complex, organizations 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 organizations 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 optimized 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.”
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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 organizations. 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.”