Scytl, the global market leader in online voting and electoral modernization, today announced that it has secured an additional $13 million investment to expand its presence in the private sector electoral market where online voting adoption is accelerating.
Scytl has participated in electoral modernization projects in 47 countries and currently manages 80% of all online voting elections in the public sector worldwide. The new investment will allow Scytl to expand this leadership position to private sector elections, focusing specifically on the market segments that require high security such as political parties, trade unions, universities and professional associations.
During the Mobile World Congress celebrated last year in Barcelona, Scytl announced the creation of OpenSeneca, a new company founded as a spin-off from Scytl with Telefonica Open Future as a strategic partner and shareholder. OpenSeneca recently launched Civiciti, a citizen participation platform that includes Scytl´s online voting solution for citizen consultations.
“Until recently our key focus has been on public sector elections; we only addressed citizen consultations and private sector elections opportunistically,” says Pere Valles, CEO of Scytl. “With the launching of OpenSeneca we now have a direct channel to market our online voting platform for citizen consultations and now we want to address the private sector electoral market in a systematic way, consolidating our leadership position across all segments of the online voting market.”
An overview of some of the contracts recently obtained by Scytl further demonstrate the dynamism in the online voting market across the globe:
The $13M investment comes from Scytl´s existing shareholders without having to resort to external investors. Scytl currently has 8 venture capital funds as shareholders: Vulcan Capital, Balderton Capital, Nauta Capital, Spinnaker Invest, Sapphire Ventures, Vy Capital, Industry Ventures and Adams Street Partners.
About Scytl
Scytl is the global leader in secure online voting and election modernization solutions. Scytl has capitalized on its more than 20 years of research to develop election-specific cryptographic technology that offers maximum security and is protected by more than 40 international patents. Over the last 10 years, Scytl’s electronic voting and election modernization solutions have been successfully used in over 47 countries across the globe, including Canada, the United States, France, Norway, Switzerland, the United Kingdom, the UAE, South Africa, India, and Australia. Scytl is headquartered in Barcelona, Spain, with offices in over 20 countries. For more information, visit www.scytl.com.
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