SAP Ventures, the independent venture capital firm affiliated with SAP SE, the worldwide market leader in enterprise applications, analytics and mobility solutions, invests $20 million.
SAP Ventures invests in late-stage high-growth technology companies – such as Scytl – that have proven product and business models and are addressing large global market opportunities. SAP Ventures’ and Scytl´s shared focus on driving innovative and disruptive technology makes this an ideal investment; the new partnership will help further improve Scytl´s agility and help facilitate the Company’s access to SAP´s global enterprise ecosystem of customers and partners.
“We are impressed with Scytl´s market leadership, rapid growth and consistent execution on delivering innovative and secure election modernization solutions to governments worldwide. The need for electoral organizations to embrace technology-driven modernization in their election processes is undergoing a much needed transformation and thus creates a huge market opportunity for Scytl. We are excited to partner with Scytl in their continued journey of bringing these processes securely into the 21st century,” concludes Andreas Weiskam, Managing Director at SAP Ventures.