Vulcan made the investment through its Silicon Valley-based growth equity fund. The firm’s head of growth equity investments, Abhishek Agrawal, will join the Scytl board of directors following the deal.
Scytl’s end-to-end e-election platform covers every process within an election, from election planning and voter registration to online voting and election night reporting, allowing governments to improve the efficiency, accessibility, transparency and security of their elections.
The company became profitable in 2006 and has since then grown its revenues at an average of 70 per cent per year, becoming the worldwide leader in the election modernization market with offices in 15 cities and customers in 35 countries.
Agrawal said, “Scytl is playing a pivotal role in helping governments worldwide to further embrace technology-driven modernization in their election processes, an area which will continue to undergo massive transformation in the coming years.
“We are excited to partner with Scytl which is at the forefront of this with its full suite of election modernization solutions which governments can adopt on a gradual basis.”
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