Private equity firm LDC has invested in Texthelp, an education and corporate software provider.
Texthelp's software products, including Read&Write, EquatiO, Browsealoud and WriQ, are used in the education and corporate sectors to help students and employees with reading, writing and numeracy difficulties including those with dyslexia or working in a second language.
Its customers include some of the largest school districts in North America and Australia, as well as Fortune 500 organisations. The business is headquartered in Belfast and employs 165 staff in the UK, US and Australia.
It has transitioned to a software as a service (SaaS) business model and has annual revenues of £19 million, most of which is generated in the North American market.
LDC is backing Texthelp’s existing management team led by CEO Mark McCusker, CTO Martin McKay and CFO Seamus Scullion. David Gilbertson, previously CEO at EMAP, will join the board as Non-Executive Chair.
Mark McCusker, CEO of Texthelp, said: “Texthelp was founded on our vision of a world where difference, disability or language are no longer barriers. With LDC's help we can further our commitment to helping unlock everyone's full potential. This partnership gives us the added resources and expertise to bring our services to more organisations across the globe.”
Steve Aston, Director at LDC, added: “Texthelp is widely recognised as the market leader in its space based on its advanced products and global presence. Assistive technology not only helps people feel more confident but can also aid productivity.”