Bryter raises $66 million

The software start-up Bryter was able to close its third financing round within a short period of time. This apparently brings the start-up to a valuation of 400 million US dollars.

In November 2019, there was six million US dollars, with another 16 million US dollars added in June 2020. Now, startup Bryter has announced the closing of another funding round. 66 million US dollars it is said to have raised with it, as it announced in advance in the Frankfurter Allgemeine Zeitung announced.

Actually, Bryter had no intention of launching a new round of financing, but the New York-based fund Tiger Global approached them with its offer on its own initiative, 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 allows companies to convert their analogue services into digital applications without having to program. The company, which launched two years ago, targets legal and compliance departments. primarily of large companies. Clients include global brands such as McDonald's and ING, as well as accounting firms Deloitte and KPMG.


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