TechFund’s fundmanager TIIN Capital B.V., which invests in promising technological and innovative Dutch ventures, announces the completion of the sale of its shares in ReadSpeaker B.V. to the management of the company.
TechFund has been involved in this company since 2008 and was genuinely excited by the opportunity to support ReadSpeaker to the next stage of their growth. ReadSpeaker is the worldwide leader in online text to speech technology. The company started with a speech-enabling application for websites only and developed during the last years several solutions and tools, backed by the capital and support of TechFund. Due to the lifecycle and strategy of the Fund to support companies to the next level, the time and moment seemed perfect to offer ReadSpeaker’s management the opportunity to buy the shares of TechFund. Today, ReadSpeaker’s web-based text to speech services are used by thousands of websites / mobile apps and millions of users worldwide every month. ReadSpeaker’s management has the experience, energy, resources and people to lead the business into the next stage of growth without the support of TechFund. Both TechFund’s fundmanagement and the management of ReadSpeaker are proud to make this announcement, acknowledging what has been accomplished thus far, and looking forward to all the goals that will be attained in the coming years. “ReadSpeaker is well positioned to grow to the next level”, say Joop Heijenrath en Staffan Meij, co-founders and directors of the company. “TechFund’s financial and hands-on support during the first phase has been of crucial importance to the successful growth of ReadSpeaker. The company has transformed from a technology start-up to a leading global online software-as-a-service provider, active in more than 40 countries. With growth in all continents and its own subsidiaries in 9 countries, it is looking forward to rapid deployment across the globe. We are excited to offer TechFund the opportunity to exit, whilst we look forward to continue our growth in the years to come.” say Meij and Heijenrath.