Barcelona-based Scytl, which creates solutions for electronic voting and electoral modernization, has received an investment of €12 million. It will use the funding to expand its presence in the private sector electoral market, where the adoption of Internet voting is accelerating.
The investment has been raised from the company's current shareholders without having to go to outside investors. Scytl currently has eight venture capital funds as shareholders: Vulcan Capital, Balderton Capital, Nauta Capital, Spinnaker Invest, Sapphire Ventures, Vy Capital, Industry Ventures and Adams Street Partners.
Scytl has participated in electoral modernization projects in 47 countries, and currently manages 80% of all Internet public sector elections in the world. With the new investment, the company plans to expand further into the private sector, especially to segments of the market that require a high security, such as political parties, unions, universities and professional colleges.
Read more: Web Capital Riesgo (Spanish)