The SaaS company Ryte announces a €6.5 million growth capital investment from Octopus Investments. The Munich-based B2B platform for website quality management also received further financing. Among those joining were SEK Ventures, the investment company of the Flixbus founders and the German software developer Mayflower. Also previously existing shareholders such as PD Ventures (the Augsburg-based corporate venture arm of the Pressedruck media group) participated in the current round.
“We are very pleased and proud that we can rely on the support and trust of such renowned investors,”
says Ryte Co-Founder and CEO Andreas Bruckschlögl.
With the capital injection, Ryte aims to grow even faster
Following the seed financing round of €4.9 million secured by Ryte founders Andreas Bruckschlögl, Niels Dörje and Marcus Tandler in 2017, the company intends to use the new capital injection to further drive growth and development. The startup is one of the fastest growing technology company in Europe. Ryte supports more than 1,500 companies and agencies worldwide in sustainably optimizing the quality of their websites and their success in search engines using software. Originally founded in 2012 as an SEO tool (Onpage.org), the company was acquired in 2017 as part of a Repositioning renamed Ryte.
"In the digital economy, website quality, especially performance and user experience, will become increasingly important. This investment will help us make website optimization easier for all companies and fulfill our promise to make websites the best possible version of themselves."
says Andreas Bruckschlögl.
“Strongly growing market”
Richard Court, Head of Development Capital at Octopus Investments is looking forward to supporting Ryte on its expansion journey and says:
"The website quality management sector is a rapidly growing market with compelling growth drivers from user experience and legislation. The quality of the product and the expertise in website optimization and SEO domains position Ryte as an excellent choice for companies that are finally tackling their most important, yet often neglected, digital asset – their website."
The UK-based Octopus Group manages more than £9.1 billion in investments and is one of the largest early-stage, venture and growth capital providers in Europe.
Ryte is currently represented in Munich and Ho Chi Minh City, Vietnam, with around 100 employees.
