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- Scytl
Scytl Revenue, Valuation, Funding & Investors
Scytl is valued at $360M as of February 2017. Scytl revenue was $54M, as disclosed with its August 2014 round.
Last Scytl valuation
$360M
Series D · Feb 2017
Last Scytl funding round
$13M
Series D · Feb 2017
Scytl revenue
$54M
Series C · Aug 2014
Key investors in Scytl
Sapphire Ventures
Vulcan Capital
Industry Ventures
Adams Street Partners
Vy Capital
Nauta Capital
About Scytl
Scytl is a Barcelona-headquartered leader in electronic voting solutions used in over 100,000 events across 35 countries including Canada, USA, France, and Australia. Founded in 2001, it holds more than 40 international patents for secure cryptographic protocols ensuring auditability. Offices span Europe, Americas, Asia, and Middle East with deployments for national elections and corporate votes.
Founded
2001
HQ
Website
Status
Privately held
Customer focus
B2B & B2G
Revenue model
Subscription
Revenue
$54M (Aug 2014)
Valuation
$360M (Feb 2017)
Scytl Valuation
Scytl is currently valued at $360M, based on its Series D in February 2017. Read the announcement ↗
The $13M round included Adams Street Partners, Industry Ventures, Nauta Capital, Vulcan Capital, Sapphire Ventures and 2 other investors.
Scytl valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2017 | Series D | $360M |
Scytl Revenue
Scytl's latest recorded revenue is $54M, as of its Series C in August 2014.
Scytl revenue by funding round
| Date | Revenue * | Stage |
|---|---|---|
| Aug 2014 | $54M | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Scytl Funding History
Scytl has raised a total of $117M across 4 funding rounds.
Scytl's first fundraising round was a $40M Series C in April 2014. The most recent completed round was a $13M Series D in February 2017.
Scytl funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2017 | Series D | Adams Street Partners; Industry Ventures; Nauta Capital; Vulcan Capital; Sapphire Ventures; Vy Capital; Telefónica Innovation Ventures | $13M | $360M | Adams Street Partners, Industry Ventures, Nauta Capital, Sapphire Ventures, Telefonica Innovation Ventures, Vulcan Capital and Vy Capital invested in Scytl in a growth round in February 2017. The company raised EUR 12 million, about $13 million, in the round, which was reported on 2 February 2017. Existing investors Balderton Capital and Spinnaker Invest were also named among the backers alongside several of the new participants. Scytl is a Barcelona-based provider of electronic voting technology and election software, founded in 2001. The company sells secure online voting, election management and results-reporting systems to governments and electoral bodies. Scytl later ran into financial difficulty and began insolvency proceedings in 2020. |
| Aug 2014 | Series C | Industry Ventures (lead); Adams Street Partners; Vy Capital | $44M | - | Adams Street Partners, Industry Ventures and Vy Capital invested $44 million in Scytl in August 2014, the final tranche of a Series C that totalled $104 million. Earlier tranches of the round included $40 million from Vulcan Capital in April 2014 and $20 million from SAP Ventures in July 2014. The proceeds were intended to step up growth of the company's electronic voting platform. Scytl is a Barcelona-based provider of secure electronic voting and election management technology, founded in 2001 as a spin-off from cryptography research at the Autonomous University of Barcelona. It supplies governments and electoral bodies worldwide, including results consolidation for the 2014 European Parliament elections. |
| Jul 2014 | Series C | Sapphire Ventures (lead) | $20M | - | Scytl is an electronic voting and election modernization software company founded in 2001 and based in Barcelona. The company provides secure online voting platforms and web tools covering the complete election process from voter registration to election night reporting, serving governments in over 35 countries across 15 office locations. Scytl had been profitable since 2006 and reported average revenue growth of 70% per year as of 2014. In August 2014, Scytl closed a $104 million Series C funding round, the company's first significant capital raise since a $9.2 million Series B in 2010. The round included investments from Vulcan Capital ($40 million in April), SAP Ventures ($20 million in July), and a $44 million tranche from Vy Capital, Adams Street Partners, and Industry Ventures in August. The funding was intended to accelerate research and development and support strategic growth plans, with management reportedly targeting a 2016 NASDAQ IPO. |
| Apr 2014 | Series C | Vulcan Capital (lead) | $40M | - | Scytl is a Barcelona-based electronic voting company founded in 2001 that provides software and web tools to modernize voting and election processes. The company's platform covers the entire election lifecycle, from planning and voter registration to online voting and election night reporting, and serves customers in more than 35 countries with offices in 15 cities. In April 2014, Scytl received a $40 million investment from Vulcan Capital, the investment firm managing Microsoft co-founder Paul Allen's fortune. This investment was part of a larger $104 million Series C financing round that closed in August 2014, with additional capital from SAP Ventures ($20 million in July) and a final tranche of $44 million from Vy Capital, Adams Street Partners, and Industry Ventures. The company had been profitable since 2006 and reported average revenue growth of approximately 70% per year. Prior investors Balderton Capital, Nauta Capital, and Spinnaker Invest remained significant shareholders. The $104 million in new capital was designated primarily for R&D efforts and strategic growth plans, with reports indicating Scytl intended to pursue a NASDAQ IPO in 2016. |
Who has invested in Scytl?
7 investors have backed Scytl across its funding rounds, including Sapphire Ventures, Vulcan Capital, Industry Ventures, Adams Street Partners, Vy Capital and Nauta Capital.
Lead investors include Industry Ventures, Sapphire Ventures and Vulcan Capital.
Scytl Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Aug 2014 | ||
| 2 | Lead | Aug 2014 | ||
| 2 | Lead | Apr 2014 | ||
| 2 | Lead | Jul 2014 | ||
| 2 | Participant | Aug 2014 | ||
This data is available for Pro users. Sign up to see all 7 Scytl investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Scytl
Scytl has acquired 1 company to date.
Last acquisition by Scytl was on October 7th 2014. Scytl acquired Akira Systems for $3M.
Latest Acquisitions by Scytl
| Description | Akira Systems is an IT services provider offering systems engineering, integration, and program management for healthcare, government, wireless, and SMB sectors. The company handles requirements gathering, design, build, integration, maintenance, and upgrades of state-of-the-art systems. Founded in 2003, it emphasizes industry-specific expertise and collaborative partnerships. |
| HQ Country | |
| HQ City | London |
| Deal Date | 7 Oct 2014 |
| Valuation | $3M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Scytl acquisitions and their M&A valuation multiples. Start Free Trial | |
Investments by Scytl
Scytl has invested in 1 company to date.
Latest investment by Scytl was on February 24th 2016. Scytl invested in Civiciti in their $38M Series A round.
Latest Investments by Scytl
| Description | Civiciti is a participatory democracy platform enabling citizens, public administrations, and organizations worldwide to discover, discuss, and decide on local issues. It employs advanced data encryption and immutable logging for secure, auditable engagement. The Spain-based tool strengthens relationships between communities and elected leaders through structured online forums and voting. |
| HQ Country | |
| HQ City | Barcelona |
| Deal Date | 24 Feb 2016 |
| Round | Series A |
| Raised | $38M |
| Investors | Wayra; Telefónica Innovation Ventures |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Scytl investments and their VC round multiples. Start Free Trial | |
Scytl Competitors
Scytl competitors include listed companies like Objective Corp., Nuix and Fujian Rongji Software, and private ones like Reportwell, Second Front Systems and Clearview.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $7M | - | ||
| Publicly listed | $92M | $36M | $420M | 3.8x | ||
| Publicly listed | $185M | $44M | $428M | 2.1x | ||
| Publicly listed | $72M | $8M | $524M | - | ||
| Private | - | - | $785M | - | ||
| Private | $16M | - | $130M | 8.1x |
Scytl Public Comps
Scytl is still privately-owned, but its public comps include Beijing Forever, Enjoyor Technology, cBrain, Objective Corp., Nuix, Gloo, Digital Arts, Fujian Rongji Software, Micro Systemation and Reaktor Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $135M | ($35M) | 2.1x | - | (8.3x) | - | |||
| $26M | ($223M) | 21.3x | 2.0x | (2.5x) | 15.5x | |||
| $38M | $13M | 7.4x | 6.6x | 21.3x | 20.9x | |||
| $92M | $36M | 3.9x | 3.8x | 10.1x | 10.5x | |||
| $185M | $44M | 2.2x | 2.1x | 9.3x | 6.6x | |||
| $95M | ($136M) | 3.2x | 1.7x | (2.2x) | (8.4x) | |||
| $69M | $37M | 4.5x | 4.2x | 8.5x | - | |||
| $72M | $8M | 7.7x | - | 71.0x | - | |||
This data is available for Pro users. Sign up to see all Scytl competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Scytl
| When was Scytl founded? | Scytl was founded in 2001. |
| Where is Scytl headquartered? | Scytl is headquartered in Barcelona, Spain. |
| Is Scytl publicly listed? | No, Scytl is a private, VC-backed company. |
| What is Scytl's valuation? | Scytl was last valued at $360M in its Series D in February 2017. |
| How much funding has Scytl raised? | Scytl has raised $117M across 4 funding rounds. |
| What was Scytl's last funding round? | Scytl's last funding round was a $13M Series D in February 2017. |
| Who are Scytl's investors? | Scytl's investors include Adams Street Partners, Industry Ventures, Vulcan Capital, Sapphire Ventures, Vy Capital, Nauta Capital and Telefónica Innovation Ventures. |
| What is Scytl's revenue? | Scytl's latest recorded revenue is $54M (August 2014). |
| Which companies are comparable to Scytl? | Companies comparable to Scytl include Reportwell, Objective Corp., Nuix, Fujian Rongji Software, Second Front Systems and Clearview. |
| How many companies has Scytl acquired? | Scytl has acquired 1 company, including Akira Systems. |
| What was the largest acquisition by Scytl? | The $3M acquisition of Akira Systems in October 2014 is the largest acquisition Scytl has made to date. |
| How many companies has Scytl invested in? | Scytl has invested in 1 company, including Civiciti. |
| What was Scytl's last investment? | In February 2016, Scytl invested in Civiciti's $38M Series A alongside Wayra and Telefónica Innovation Ventures. |
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