Scytl is trying to modernize elections by killing the ballot box and moving the voting process online. SAP Ventures just handed the startup another $20 million to help the company expand.
The software focuses on providing voter registration and voting services, as well as election night reporting. The company also offers election planning. It’s goal is to make elections efficient, accessible, and transparent, but what Scytl really offers is security — a crucial component for high stakes elections. It has developed “election-specific cryptographic security technology protected by more than 40 international patents and patent applications,” according to the company’s press release.
Norway just ended its own e-voting experiments due to security fears, exemplifying how important a role security plays in the future of services like Scytl.
The company was founded in 2001, so it’s not new, but it has been racking in the dough lately. In April Microsoft co-founder Paul Allen’s fund Vulcan Capital gave Scytl $40 million.
Currently the company works with governments and other organizations in 35 countries. Its headquarters are located in Barcelona, Spain.
SAP Ventures is focused on growth stage investment. Started in 1995 within SAP, SAP Ventures raised its first fund in 2011 and remains affiliated with SAP. Originally part of SAP, SAP Ventures' strategy is to invest in growth stage ... read more »
Vulcan Capital is the private equity and venture capital arm of Vulcan Inc. specializing in investments across all stages of corporate development through leveraged buyouts, growth capital, acquisitions, PIPE, seed and early stage, dis... read more »
Scytl is the worldwide leader in the development of secure electronic voting and electoral modernization solutions for the public and private sectors. These solutions incorporate advanced cryptographic protocols to allow electoral proc... read more »
