Investment type
- Secondary buyout
Texthelp has supported 30 million students and employees with reading, writing and numeracy as well as productivity challenges, including those with dyslexia or working in a second language. Its products include literacy support software Read&Write, maths product EquatIO, web accessibility toolbar Browsealoud and recently launched writing achievement tool WriQ.
The firm employs more than 180 staff across its headquarters in Belfast and international offices.
Texthelp has an established and loyal customer base across the Americas, Europe, Middle East and Australasia, including some of the largest school districts in North America and Australia, as well as Fortune 500 organisations.
The company partners with the world’s leading technology brands including Google, Microsoft and Apple to deliver solutions that work across all major mobile, tablet and computer operating systems.
An investment in growth
LDC backed the business in May 2019, supporting the management team to accelerate its organic growth plans, in the UK, US and internationally and further develop its software proposition.
Texthelp enhanced its market leading position by expanding its footprint across North America, developing its digital route to market and pricing strategies, and significantly investing in new technology and product development. This has included the recent launch of WriQ, a cloud-based writing assessment, benchmarking and achievement tool that allows teachers to automatically assess writing proficiency, provide students with specific and personalised feedback and track student performance over time.
Our partnership with LDC helped us go further, faster. The team believed in the potential of our business, and our ability to deliver on our plans. They provided the investment, support and expertise to help us accelerate a truly differentiating digital transformation in a relatively short space of time.”
In December 2020, LDC exited its investment in Texthelp to Five Arrows, following a period of significant growth. During the 18-month partnership, revenues at the business increased 40 per cent from £19m to £27m, with a strengthening pipeline of prospective new customers.
LDC, The Prince’s Trust and Texthelp
LDC’s partnership with The Prince’s Trust is set to help more than 1,200 young people to launch their own business.
Martin McKay, CEO & Founder of Texthelp, understands first-hand the impact The Prince’s Trust can have on the entrepreneurial ambitions of young people.
He founded his education technology business when he was in his twenties, with support from The Prince’s Trust.
