Scytl, the Internet voting company, has closed a $9.2 million round of funding led by European VC firm Balderton Capital, and supported by Nauta Capital, a previous investor. The new funds will enable Scytl to “consolidate its leading position in the electronic voting market and support its international expansion”, says the company, with a primary focus on the U.S.
Scytl’s secure technology, which enables the traditional voting process during elections to happen online, has been used by 13 out of 16 of the countries worldwide who have introduced electronic voting in their public elections, says the company. The advantages offered by Internet voting are said to be “cost, efficiency, speed and security”, although it’s not yet proven that electronic voting necessarily increases participation.
As part of the investment, Bernard Liautaud, a Partner of Balderton Capital, will join the board of Scytl. Bernard was the founder and chief executive officer of Business Objects, the enterprise software company that was acquired by SAP in 2007 for $6.8 billion.
Liautaud comments: “Internet voting offers significant potential both as an investment opportunity and as a key element of democratic development in the years ahead.”
Scytl’s voting technology has thus far been used by various governments, including the United States, United Kingdom, France, Norway, Austria, Switzerland, Spain, Finland, Mexico, Argentina, the Philippines, Bosnia-Herzegovina and Australia.