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Online voting company Scytl raises USD9.2m

Scytl, a Barcelona-based provider of internet voting technology, has closed a USD9.2m investment led by Balderton Capital, one of Europe’s largest venture capital investors, and supported by Nauta Capital, an existing investor in Scytl.

The investment will enable Scytl to consolidate its position in the electronic voting market and support its international expansion, primarily in the US.

Scytl’s secure technology has been used by 13 out of 16 of the countries worldwide who have introduced electronic voting in their public elections. Countries are moving to adopt internet voting systems because of the advantages they offer in terms of cost, efficiency, speed and security. Analysts believe that the public sector market for electronic voting systems is worth approximately USD1.5bn.

Bernard Liautaud (pictured), a partner of Balderton Capital, will join the board of Scytl. Liautaud was the founder and chief executive officer of Business Objects, the enterprise software company that was acquired by SAP in 2007 for USD6.8bn.

Pere Vallés, chief executive of Scytl, says: “We are delighted that Balderton Capital has provided such powerful shareholder support, alongside our existing investors Nauta Capital and Spinnaker Invest. We look forward to drawing upon Bernard Liautaud’s unsurpassed expertise in building a global software business as we consolidate Scytl’s position as the leading technology company in electoral modernisation.”

Liautaud adds: “Internet voting offers significant potential both as an investment opportunity and as a key element of democratic development in the years ahead. We are excited by Scytl’s vision of applying the power of the digital revolution to today’s archaic voting systems. Its technology offers a simple, convenient and secure way of voting that will promote greater citizen participation in electoral processes around the world.”

Scytl has recently won projects within electronic voting and electoral modernisation in countries such as the US, France, Norway, Bosnia-Herzegovina and Australia.

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