Scytl, the provider of a secure online voting and election modernization platform, has raised $40 million from Vulcan Capital, the investment management firm that oversees Paul Allen’s multi-billion dollar portfolio. The investment was made from Vulcan’s new Silicon Valley-based growth equity fund, which is focused on investing in companies in the Internet & technology space. Vulcan's Abhishek Agrawal will join Scytl’s Board of Directors.
Founded in 2001, Scytl's 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. The company last raised $9.2 million in funding led by Balderton Capital in 2010 and has now raised a total of about $52 million to date. Proceeds from the new round of financing will be primarily used to fund Scytl’s R&D efforts and strategic acquisitions.