KKR Makes $55 Million Investment in eSSENTIAL Accessibility

Rhea-AI Summary

KKR has announced a significant $55 million investment in eSSENTIAL Accessibility, the leading provider of Accessibility-as-a-Service. This investment aims to enhance eA's digital accessibility platform, addressing the growing demand for online solutions that meet the needs of individuals with disabilities. With over 1.7 billion websites globally, many remain inaccessible, increasing litigation risks under the ADA. eA's comprehensive platform enables organizations to achieve compliance with regulatory standards while improving user experience for over one billion disabled individuals worldwide.

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• KKR's $55 million investment in eSSENTIAL Accessibility will enable the scaling of its technology and services.
• eSSENTIAL Accessibility addresses a critical market need, providing tools for companies to achieve digital accessibility compliance.
• The investment is made through KKR's Next Generation Technology Growth Fund II, focused on tech growth equity.

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• None.

KKR today announced a $55 million investment in eSSENTIAL Accessibility (“eA” or the “Company”), the pioneering provider of Accessibility-as-a-Service. As the digital divide for people with disabilities expands and the number of companies facing Americans with Disabilities Act (ADA)-related litigation continues to skyrocket, eA’s digital accessibility platform addresses the growing demand for a comprehensive, sustainable solution.

“As our dependency on digital connection increases, inclusive experiences have never been more critical – a need we are laser-focused on addressing,” said Mark Steele, Co-Founder and CEO at eSSENTIAL Accessibility. “This financial and strategic support from KKR will enable us to scale our technology, processes and human expertise even faster, meeting the increasing demand for accessible online content and better supporting our customers’ commitments to disability, equality and inclusion programs.”

It is estimated there are more than 1.7 billion websites and mobile apps today, with 500,000 new websites created daily. Yet the vast majority contain barriers for individuals with disabilities, contributing to the rising number of legal claims against companies that have yet to solve this problem. eSSENTIAL Accessibility’s platform provides the tools, technology and training needed to fix accessibility from design to code, ensuring online equality against the backdrop of more than one billion people worldwide who are living with a disability.

Through a comprehensive platform of software and tech-enabled services, eSSENTIAL Accessibility is an end-to-end solution that ensures digital assets, such as websites, mobile applications, and software products, offer a seamless online user experience for individuals with disabilities. This helps organizations achieve and maintain compliance with applicable regulatory requirements through conformance with the Web Content Accessibility Guidelines (WCAG).

“eSSENTIAL Accessibility provides companies with a complete platform of technology capabilities, user experience design and DevOps integrations, subject matter experts, legal guidance and training, helping them become truly accessible to people with disabilities,” said Ben Pederson, Principal at KKR.

Jake Heller, Head of KKR’s Technology Growth team in the Americas, added: “We are thrilled to be investing in eA and look forward to leveraging KKR’s network and resources to support the company’s growth and expansion.”

KKR is making its investment through its Next Generation Technology Growth Fund II, a global fund dedicated to growth equity investments in the technology space.

About eSSENTIAL Accessibility

eSSENTIAL Accessibility is the smarter way to digital accessibility and legal compliance. As the leading Accessibility-as-a-Service platform, it enables brands to empower people by helping them deliver inclusive web, mobile, and product experiences that comply with global regulations and ensure that people of all abilities have equal access. Learn more at www.essentialaccessibility.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210526005400/en/

FAQ

What is KKR's recent investment announcement regarding eSSENTIAL Accessibility?

KKR announced a $55 million investment in eSSENTIAL Accessibility to enhance their digital accessibility platform.

How does eSSENTIAL Accessibility's platform help companies comply with regulations?

eSSENTIAL Accessibility provides tools and training that help organizations achieve compliance with the Americans with Disabilities Act.

What fund is KKR using for the investment in eSSENTIAL Accessibility?

KKR is making this investment through its Next Generation Technology Growth Fund II.

Why is digital accessibility important for businesses?

Digital accessibility is crucial for businesses to avoid ADA-related litigation and to serve the needs of over one billion individuals with disabilities.

What market need does eSSENTIAL Accessibility address?

eSSENTIAL Accessibility addresses the growing demand for comprehensive solutions for digital accessibility in an increasingly online world.