BRYTER Raises $66 Million Series B to Accelerate US Expansion
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 capital will be used to accelerate BRYTER’s international expansion, particularly in the US, where BRYTER opened an office last year and has since seen rapid adoption, currently supported by a team in New York, with more to come.
A group of leading enterprise software executives and entrepreneurs also joined the round in recognition of the platform’s huge 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. Digital transformation and automation are reshaping industries at a rapid pace, accelerated by the pandemic, but the need for coding resources is often a barrier for companies who increasingly depend on software to succeed.
Selective enterprise services have become digital, like intake processes and ticketing systems, but some of the most valuable services, notably within compliance, legal, tax, privacy and security functions, but also in other regulatory departments like procurement, administration, and HR, are still manual, individual consultant relationships. BRYTER helps business experts within global organizations turn enterprise services into interactive, self-service applications that are available for everyone across the organization, through virtual assistants, chatbots, self-servicing and other applications. Its customers range from consumer-facing businesses like McDonald’s and Telefónica, through 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 to take up a fraction of the time and budget they took before, with no need for programming skills or experience. BRYTER is working with some of the largest companies globally and counts over 100 customers to date.
Thanks to its intuitive platform, users are able to get started with BRYTER in minutes. At the same time, it provides the power necessary for tasks and 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.
Lowering the barriers to entry for the development of digital applications unleashes enormous potential for business professionals to digitize tasks, decision-making processes and repetitive reasoning, spreading knowledge and efficiency across corporations in days, and empowering them to focus on the more fulfilling, value-adding tasks that they are kept from by their caseload. 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 organisations.”
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, digitalisation 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.”