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.

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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

Scytl Overview

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

SpainBarcelona

Website

scytl.com

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

Scytl valuation by funding round
DateStageValuation
Feb 2017Series D$360M

Scytl Revenue

Scytl's latest recorded revenue is $54M, as of its Series C in August 2014.

Scytl revenue by funding round

Scytl revenue and valuation multiple by funding round
DateRevenue *Stage
Aug 2014$54MSeries 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

Scytl funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Feb 2017Series DAdams Street Partners; Industry Ventures; Nauta Capital; Vulcan Capital; Sapphire Ventures; Vy Capital; Telefónica Innovation Ventures$13M$360MAdams 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 2014Series CIndustry 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 2014Series CSapphire 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 2014Series CVulcan 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

Investors in Scytl by funding rounds participated
InvestorHQRoundsRoleFirst check
Adams Street PartnersUnited StatesChicago, IL2ParticipantAug 2014
Industry VenturesUnited StatesSan Francisco, CA2LeadAug 2014
Vulcan CapitalUnited StatesSeattle, WA2LeadApr 2014
Sapphire VenturesUnited StatesAustin, TX2LeadJul 2014
Vy CapitalUAEDubai2ParticipantAug 2014

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Acquisitions 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

Akira Systems
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 CountryUnited Kingdom
HQ City
London
Deal Date7 Oct 2014
Valuation$3M
EV/Revenue
EV/EBITDA

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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

Civiciti
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 CountrySpain
HQ City
Barcelona
Deal Date24 Feb 2016
RoundSeries A
Raised$38M
InvestorsWayra; Telefónica Innovation Ventures
Valuationundisclosed
EV/Revenue
EV/EBITDA

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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.

Public and private companies comparable to Scytl
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ReportwellUnited StatesIndianapolis, INPrivate--$7M-
Objective Corp.AustraliaAustraliaPublicly listed$92M$36M$420M3.8x
NuixAustraliaAustraliaPublicly listed$185M$44M$428M2.1x
Fujian Rongji SoftwareChinaChinaPublicly listed$72M$8M$524M-
Second Front SystemsUnited StatesWilmington, DEPrivate--$785M-
ClearviewUnited StatesNew York City, NYPrivate$16M-$130M8.1x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Beijing Forever$135M($35M)2.1x-(8.3x)-
Enjoyor Technology$26M($223M)21.3x2.0x(2.5x)15.5x
cBrain$38M$13M7.4x6.6x21.3x20.9x
Objective Corp.$92M$36M3.9x3.8x10.1x10.5x
Nuix$185M$44M2.2x2.1x9.3x6.6x
Gloo$95M($136M)3.2x1.7x(2.2x)(8.4x)
Digital Arts$69M$37M4.5x4.2x8.5x-
Fujian Rongji Software$72M$8M7.7x-71.0x-

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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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