SAP commits further $20m to Scytl

The company will use the fresh funding to boost its R&D efforts.

SAP Ventures is affilated with German multinational software corporation SAP, but now operates independently following a spinout in 2011.

Scytl has completed several rounds of institutional funding. In 2008, Nauta Capital injected €3m into the company via its Nauta Tech Invest II vehicle. The investment was designed to support Scytl's hiring plans and the opening of a new office.

In 2010, the company raised $9.2m in a series-B round led by Balderton Capital. The business earmarked the funding for expansion in the US and market consolidation. As part of the deal, Balderton's Bernard Liautaud joined the company's board.

In April this year, Scytl received a $40m equity injection from Vulcan Capital, the investment management firm launched by Microsoft co-founder Paul Allen. The firm directed the funding towards R&D and bolt-on acquisitions.

Headquarted in Barcelona, Scytl provides secure election management and electronic voting solutions. Its cryptographic security technology is protected by more than 40 international patents.

The firm has offices in the US, Brazil, Peru, Greece, UK, Ukraine, Malaysia, India and Australia. Scytl was founded in 2001 and hit profitability in 2006.

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