VC-backed Scytl raises $40m from Microsoft co-founder

The firm will use the funding to develop its R&D efforts and to finance bolt-on acquisitions.

Nauta first backed the company in 2007, committing €3m of early-stage capital. In 2010, Scytl raised a €7.5m series-B round, largely provided by new backer Balderton with a €400,000 commitment from Nauta.

Scytl provides secure election management and electronic voting solutions. The firm's cryptographic security technology is protected by more than 40 international patents. The company is headquartered in Barcelona and has offices in the US, Canada, Brazil, Peru, Greece, the UK, Ukraine, Malaysia, India and Australia. Founded in 2001, Scytl became profitable in 2006 and has grown its revenues at an average of 70% per year.

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• Topics
• Southern Europe
• Technology
• Spain
• Nauta Capital
• Balderton Capital