The funding will be used to build on our rapid growth to date and invest further in supporting global adoption of our platform across our existing customer base.
We are very excited to announce a $16 million Series A funding led by two of the global leading enterprise software venture capital firms Dawn Capital and Accel, who had led our seed round. Also participating in the round were our existing investors Notion Capital and the fund of SaaS veteran Mike Chalfen of Chalfen Ventures. The capital will be used to accelerate our international expansion, particularly in the US, and help enable international adoption across our growing global customer base.
Since we founded BRYTER in 2018, we have developed a best-in-class no-code automation platform designed to quickly build and deliver business expertise. As digital transformation and automation gathers pace in reshaping industries, the need for coding resources is often a barrier for companies who increasingly depend on software to succeed.
We are supporting all business experts within global organizations – from the likes of McDonald’s and Telefónica to leading professional service firms PwC, KPMG and Deloitte and banks, healthcare and industrial enterprises – to build their own applications, develop virtual assistants, chatbots, self-service applications and other intelligent automation tools. We currently count over 50 customers globally.
This is all being done without the need for programming skills or experience. We have focused on providing our users with an intuitive platform that enables them to get to grips with using BRYTER in minutes whilst, at the same time, includes a powerful toolset necessary for enterprise-grade industries. Applications can be delivered to end users internally or externally at the click of a button meaning that there are now over 2,000 business applications and workflows have been deployed on our platform.
We have also seen how our platform is reducing the time and development costs to a fraction of what a company would normally spend. Lowering the barrier to entry for the development of digital applications unleashes an enormous potential for business professionals to digitize tasks, decision-making processes and repetitive reasoning, spreading knowledge and efficiency across corporations in days. In fact, recent engagement with our platform has doubled since the outbreak of Covid-19.
Our continuing expansion across the US – the largest software market in the world at $500bn – not only demonstrates our ability to serve the world’s largest organizations but also underlines the astonishing progress we have made, just two years since our inception.
Our CEO and co-founder, Michael Grupp said:
“Building on our early momentum in the compliance and legal markets, this funding round will allow us to bring our enterprise no-code platform to more customers both in additional geographies and industries, and power our momentum for continued international growth. And we are thrilled to receive such high-skilled experience and support helping us achieve this.”
Evgenia Plotnikova, Partner at Dawn Capital, said:
“The software industry was built around automating business processes. Year after year, the biggest, enterprise-wide pain points are prioritized and IT works through the list, never getting close to the long, long tail. To drive automation at scale throughout the modern enterprise, IT needs to transform ‘citizens’ into developers. BRYTER makes that step easy and seamless: any professional can now build software tools, tackling the most challenging processes and decisions. BRYTER was founded just two years ago and has already made rapid progress. We at Dawn are hugely excited to witness the growth ahead as the business continues to scale globally.”
Luca Bocchio, Partner at Accel said:
“We’re delighted to be doubling down on our early investment in BRYTER with this round. We’ve been impressed with the impact BRYTER has already had, in such a short space in time, in unleashing the potential for business experts to participate in digital transformation without the need for specific programming skills. We’re excited to see the company continue its rapid growth and increased adoption amongst blue-chip global enterprise customers.”
BRYTER is the leading no-code platform to automate expert knowledge. The intuitive toolbox enables professionals to build, manage and sell interactive applications without programming skills. It helps consulting and law firms, banks, corporates and public bodies across the globe to digitize and scale their services. BRYTER is especially geared towards experts in law, finance, tax and compliance, who work with complex, conditional and scenario-based content, to automate recurring and standardizable decision-making processes. BRYTER operates offices in Berlin, Frankfurt and London. The software currently supports professionals in more than 50 international law, consulting and accounting firms, corporates and public bodies with the automation of professional decision-making. Amongst its customers are ING, PwC, Deloitte, BakerMcKenzie and TaylorWessing.
Dawn is Europe’s largest specialist B2B software investor, with assets under management of $550m. The firm partners with innovative companies that, through exceptional teams, products and business models can become category-defining, global titans. Dawn is an early-stage investor, backing companies at series A and B, and continuing to fund the best-performing from growth rounds through to exit. Its roster of investments includes Mimecast (now NASDAQ-listed with a $2.5bn market cap), iZettle (sold to PayPal for $2.2bn cash), Collibra, Showpad, Dataiku, Templafy, Quantexa, Garrison, and Tink, amongst others. www.twitter.com/dawncapital.
Accel is a global venture capital firm that partners with exceptional founders with unique insights, from inception through all phases of private company growth. Arista, Atlassian, Braintree, Celonis, CrowdStrike, Deliveroo, DJI, Dropbox, Etsy, Facebook, Flipkart, Freshworks, Jet, Kayak, Lynda.com, Qualtrics, Rovio, Slack, Spotify, Supercell, Swiggy, Tenable, UiPath, and Venmo are among the companies the firm has backed over the past 35+ years. The firm seeks to understand entrepreneurs as individuals, appreciate their originality and play to their strengths. Because greatness doesn’t have a stereotype. For more, visit www.accel.com or www.twitter.com/accel.