Microsoft’s co-founder and philanthropist Paul Allen has invested $40 million into Scytl, a global firm for secure online voting and election modernization via his investment management firm Vulcan Capital.
Build to transform and modernize elections globally Scytl was founded in 2001 and by 2006 it was profitable. Since then the firm claims to have grown its revenues at an average of 70% per year, becoming the worldwide leader in the election modernization market with offices in 15 cities and customers in 35 countries.
“We are very pleased that Vulcan Capital is backing our company with their investment, credibility and expertise”, says Pere Valles, CEO at Scytl. “As the industry leader in the election modernization space, we have a responsibility towards our customers to continue bringing technology, innovation and excellence into this space.”
Abhishek Agrawal, who heads all growth equity investments for Vulcan Capital, will be joining Scytl’s Board of Directors to help the firm continue its mission of transforming the election industry by bringing software and internet based solutions into the election space.
“Scytl is playing a pivotal role in helping governments worldwide to further embrace technology-driven modernization in their election processes, an area which will continue to undergo massive transformation in the coming years”, said Abhishek Agrawal, Managing Director of Vulcan Capital. “We are excited to partner with Scytl which is at the forefront of this with its full suite of election modernization solutions which governments can adopt on a gradual basis.”
Scytl’s end-to-end e-Election Platform covers every process within an election, from election planning and voter registration to online voting and election night reporting, allowing governments to improve the efficiency, accessibility, transparency and security of their elections.