Pandemic applications have further proved the value of automation to innovative organizations
Round led by US-based investment firm Tiger Global Management (‘Tiger Global’).
Raise follows Series A after just 8 months, bringing the total capital raised to date to $90 million.
Global customer base of over 100 firms in Europe and the US after less than three years including KPMG, ING, and Telefónica.
Leading enterprise software executives joined the round, including Amit Agharwal, CPO of DataDog; Lars Björk, former CEO of Qlik; Ulf Zetterberg, founder and CEO of Seal Software and former ServiceNow Global SVP James Fitzgerald.
BRYTER’s no-code platform allows business users to turn enterprise services into self-service applications, making valuable but hard-to-scale business knowledge easily available across organizations.
Proceeds will be used to expand the BRYTER US team and further fuel the company’s rapid growth.
LONDON and NEW YORK and BERLIN and WHEREVER, April 07, 2021 (GLOBE NEWSWIRE) --
*BRYTER has been remote first since inception, but has offices today for the use of its employees in four cities
BRYTER, the no-code service automation platform that enables anyone to build enterprise service applications, today announces a $66 million Series B funding round. The raise comes only 8 months after the company’s Series A round, bringing the total capital raised to date to over $90 million.
The investment round was led by New York based investment firm Tiger Global, with participation from existing investors Accel, Dawn Capital, Notion Capital and Cavalry Ventures.
The capital will be used to accelerate BRYTER’s international expansion, particularly in the US, where BRYTER has seen rapid adoption since opening a New York office last year.
A group of leading enterprise software executives and entrepreneurs also joined the round in recognizing the rapid growth and future potential, including Amit Agharwal, CPO of DataDog; Lars Björk, former CEO of Qlik; Ulf Zetterberg, founder and CEO of Seal Software and former ServiceNow Global SVP James Fitzgerald. They will act as consultants for the company and assist in US go-to-market development.
Founded less than three years ago in 2018, BRYTER has rapidly become the leading no-code automation platform for enterprise services. While digital transformation and automation are reshaping industries at a rapid pace, the need for coding resources is often a barrier for companies who increasingly depend on software to succeed.
Selective enterprise services such as intake processes and ticketing systems have become digital - but many services within compliance including legal, tax, privacy and security functions are still manual while relying on individual consultant relationships. Other regulatory departments like procurement, administration and HR also are having issues scaling their knowledge.
BRYTER helps business experts within global organizations turn enterprise services into interactive, self-service applications available across the organization, through virtual assistants, chatbots, self-servicing and other applications. Its customers range from consumer-facing businesses like McDonald’s and Telefónica, leading professional service firms PwC, KPMG and Deloitte in Europe, to banks, healthcare and industrial enterprises. Using BRYTER’s platform, business users can digitize and automate repetitive services in a fraction of the time and at much lower costs.
Thanks to its intuitive platform, users with no technical programming knowledge get started with BRYTER in minutes. At the same time, it provides the power necessary for processes with complex reasoning and demanding use cases. Applications can be delivered to end users internally or externally at the click of a button. Since its launch, over 2,000 business applications and workflows have been deployed on the platform.
Business professionals can digitize tasks and automate decision-making processes to extend individual expertise in days. Democratizing software development empowers them to focus on value-adding actions over repetitive tasks. After building out a fully end-to-end enterprise ready platform first, BRYTER has seen engagement with its platform multiply through 2020 and numerous organizations have responded to the disruption caused by COVID-19 by making enterprise services digitally available to everyone.
BRYTER’s 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 businesspeople 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.”
John Curtius, Partner at Tiger Global, said: “BRYTER has all the characteristics of a top-tier software company: high quality product that solves a real customer pain point, a large market opportunity and a world-class founding team. The feedback from BRYTER’s customers was resoundingly positive in our research, and we are excited to see the company reach new heights over the coming years.”
Evgenia Plotnikova, Partner at Dawn Capital, said: “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.”
Luca Bocchio, Partner at Accel, said: “With BRYTER, business experts get the benefit of both simplicity and power. The platform’s exceptional user experience enables people with no coding skills to just drag and drop their knowledge in order to create an app that incorporates their complex reasoning and knowledge in a matter of hours. With the acceleration of digital transformation across industries, we’re excited for the next stage of BRYTER’s journey and supporting another fantastic European-founded software company as it expands in the US.”
BRYTER product and management photography and case studies available on request from Powerscourt.
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BRYTER is the no-code service automation platform that enables business experts to build digital applications. The truly no-code platform gives enterprise teams the tools to build self-service applications to provide faster, more accurate services to their colleagues, without programming. BRYTER is especially geared to professionals in law, compliance, accounting and finance, who use the software to automate complex, recurring decisions and scenarios. Global brands from consumer industries (McDonald’s), through financial services (ING) to professional service firms (Deloitte, PwC and KPMG), use BRYTER to deliver services digitally. BRYTER is a remote-first company with offices in New York, London, Frankfurt and Berlin. www.bryter.io