Election modernization company Scytl has secured an additional $44 million from Vy Capital, Adams Street Partners and Industry Ventures under a funding round initiated in April 2014. With the additional investment, Scytl has closed the funding round with $104 million from five new investors:Vulcan Capital, SAP Ventures, Vy Capital, Adams Street Partners and Industry Ventures.Balderton Capital, Nauta Capital and Spinnaker Invest remain significant shareholders in Scytl.
Scytl, the worldwide leader in secure online voting and election modernization, today announced that it has secured an additional $44 million investment from Vy Capital, Adams Street Partners and Industry Ventures under the financing round initiated in April 2014.
With this investment, Scytl closes this round of financing during which it has raised $104 million of capital from five new investors: Vulcan Capital, SAP Ventures, Vy Capital, Adams Street Partners and Industry Ventures. Balderton Capital, Nauta Capital and Spinnaker Invest remain as significant shareholders in the company.
“This round of financing represents a tremendous endorsement to our company and to what we are doing in the field of election modernization”, says Pere Valles, CEO of Scytl. “With the additional resources and expertise from our new financial partners, Scytl is even better prepared to continue leading the transformation of the election industry by delivering the most innovative and secure election modernization technologies.”
Vy Capital is a global investment firm exclusively focused on the internet and software sectors. “At Vy Capital we invest globally in high-quality, high-growth businesses that are market leaders. We are therefore very excited to invest in Scytl which has grown to be the election software of choice all over the world for governments who want to use technology to bring their electoral processes into the 21st century,” comments Mati Szeszkowski, Partner and Co-Founder of Vy Capital.