US cybersecurity business Bryter has snared $66m following a successful Series B round led by Tiger Global.
Tiger was joined in the funding round by Dawn Capital, Cavalry Ventures, Notion Capital and existing investors Accel.
A range of entrepreneurs and software executives also participated in the round, include DataDog CPO Amit Agharwal, Seal Software founder and CEO Ulf Zetterberg and ex-SVP of ServiceNow James Fitzgerald. The individual investors will act as consultants to the firm and aid in its go-to-market development in the US.
This recent capital raise follows a Series A round in June 2020, where Bryter was able to raise $16m. To date, Bryter has raised $90m in total funding.
According to Bryter, the funding will be used to accelerate the firm’s international expansion, particularly in the US. Since opening an office in New York last year, Bryter claims it has seen rapid adoption of its technology.
Established in 2018, Bryter markets a no-code service automation platform that allows anyone to build enterprise service applications. The platform helps businesses turn enterprise services into interactive, self-service applications available to the organization. These applications can be virtual assistants, self-servicing and chatbots.
The firm stated users with no technical programming knowledge can get started with Bryter “within minutes.” Applications can be provided to end users internally or externally with “the click of a button.” Since its launch, the firm claims over 2,000 business applications and workflows have been deployed on the platform. Bryter also mentioned it has seen engagement with its platform multiply through 2020, mostly powered by the move to home working.
Customers of Bryter include McDonald’s, Telefónica, PwC, KPMG and Deloitte in Europe and many others. Business users using the platform can digitize and automate repetitive services in much less time at lower costs.
Bryter CEO and co-founder Michael Grupp said, “Bryter is all about helping organizations streamline their service, internally and externally. We’re excited to have the customer validation to be able to raise significant funding so soon after our last round, to take our vision to more customers, particularly in the world’s largest software market, the US.
“We want more business people to learn about how we can change their working lives and we’re pleased to have the backing of leading investors and industry greats to take BRYTER to more organizations.”
Dawn Capital Partner Evgenia Plotnikova added, “Bryter has seen explosive growth over the last year, signing landmark customers across a large number of sectors and use cases. This does not come as a surprise. In the pandemic-affected world, digitalization is no longer a ‘nice to have’, it is an imperative.
“That means that more than ever, to drive automation at scale throughout the modern enterprise, every employee has to become a ‘citizen developer’. Bryter makes that step easy and seamless. We at Dawn are thrilled to continue supporting Bryter’s rapid global expansion and to welcome new investors to this exciting journey.”
Copyright © 2021 RegTech Analyst
Copyright © 2018 RegTech Analyst
