BRYTER raises $6m seed investment led by Accel
Germany-headquartered decision automation software provider BRYTER today (12 November) announces a $6 million late-seed funding round led by leading global venture capital firm Accel, with participation from Notion Capital. Existing investor Cavalry Ventures and several angels, including SaaS veterans Mike Chalfen (founder of Mosaic Ventures) and Charles Songhurst, also participated in the round.
The investment brings BRYTER’s total amount of funding to $9 million, and the fresh capital will be used to enlarge the team and fuel further growth, research and development.
Core to this is the development of a global customer success strategy. As part of the deal, Accel’s Luca Bocchio and Notion’s Jos White will join BRYTER’s Board.
BRYTER was founded to provide business experts with the automation tools necessary to build powerful applications, with no programming skills required.
“Many of the most valuable business professionals and domain experts can’t digitize, scale or let alone automate their knowledge,” said Michael Grupp, CEO and Co-Founder of BRYTER. “Existing tools are either targeted at skilled IT experts or do not have the necessary complexity for the legal, financial and compliance industries. BRYTER was developed specifically for these industries. It unlocks the knowledge contained in MS Word and PDFs, and our rapid growth and adoption by the leading industry players speaks to the urgent need for our product in the market.”
BRYTER, which only launched in 2018, is used by PwC Legal in Europe, which is rolling out BRYTER across its European units as the go-to toolset for rapid-application development, and Accenture in the US, which is using BRYTER to digitize and automate regulatory processes both in-house and for clients.
In October it formally expanded into the UK with the hires of Sam Spivack as managing director of the UK and Ireland and Sharan Kaur as head of strategic partnerships in the UK as its client base in the region grows. Both joined in September.