Bryter raises $66 million

The software start-up Bryter has closed its third financing round in a short space of time. The start-up has apparently reached a valuation of 400 million US dollars.
News by Jan Schulte Jan Schulte · Stuttgart, 07. April 2021

The software start-up Bryter has closed its third financing round in a short space of time. The start-up has apparently reached a valuation of 400 million US dollars.

Six million US dollars were raised in November 2019, followed by a further 16 million US dollars in June 2020. The start-up Bryter has now announced the completion of a further financing round. It is said to have raised 66 million US dollars, as previously reported in the Frankfurter Allgemeine Zeitung announced in advance.

Bryter had not actually planned to launch a new financing round, but the New York fund Tiger Global approached them with its offer, founder Michael Grupp told Gründerszene. The existing investors Accel, Dawn Capital, Notion Capital and Cavalry Ventures have apparently also invested. According to calculations by the Frankfurter Allgemeine Zeitung , the new round of financing makes the start-up worth 400 million US dollars.

Bryter has developed software that enables companies to convert their analog services into digital applications without having to program. The company, which was launched two years ago, is aimed at the legal and compliance departments of large companies in particular. Its customers include global brands such as McDonald's and ING as well as the auditing firms Deloitte and KPMG.


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