Munich, 11.01.2021
Award-winning B2B SaaS company will use funding to expand product, accelerate growth, and for international expansion.
MUNICH / LONDON, Jan. 11, 2021: Ryte, the Munich-based leading website quality management platform, announced today a growth funding round of €6.5 million led by Octopus Investments’ Development Capital team, part of Octopus Group.
Octopus Group has more than £9.1 billion under management and is one of the largest early and growth-stage investment managers in Europe. Additional funds came from SEK Ventures, the Flixbus founders’ investment firm, as well as software solutions company Mayflower and from existing shareholders including PD Ventures.
“We are delighted and proud to have such renowned investors place their trust in both our products and team,” said Ryte co-founder and CEO Andreas Bruckschlögl. Following a seed funding round in which the founders Andreas Bruckschlögl, Niels Dörje, and Marcus Tandler raised €4.9 million in 2017, the team is now looking forward to developing the company and accelerating growth both with its new investors, as well as existing shareholders, including PD Ventures, Senovo, Surplus, and their highly experienced management team.
Founded originally in 2012 as an SEO tool (Onpage.org), the company was renamed to Ryte in 2017 as part of a fundamental repositioning of the company as one of the world’s first Website Quality Management focused solutions. To enable this transition, Ryte set about laying the foundations for accelerated growth through an expanded product suite designed to fulfill the increasing website quality management and performance needs in the market.
Today, Ryte is used by more than 1,500 companies and partners worldwide and is the Website Quality Management platform of choice for clients including BMW, Allianz, and Boston Consulting Group.
“In the digital economy, the importance of the quality of websites - including performance and user experience - is set to increase massively in the coming years. This investment will enable us to pursue our goal of making it simple for anyone worldwide, from global brands to small business owners, to make their website the best it can be,” Bruckschlögl said.
Richard Court, Head of Development Capital at Octopus Investments, said: “The Website Quality Management category is a massively growing market with compelling drivers of demand from both a user experience and regulatory perspective. Ryte’s product and expertise within the Website and SEO domain positions them well to be the platform of choice for companies who are finally giving the requisite time and attention to what is their most important but often neglected digital asset, the website. We are extremely excited to be partnering with such a talented team, led by Andy, and will be supporting Ryte as it expands across Europe and beyond.”
The Development Capital team, part of Octopus Investments, provides growth capital to some of the most exciting B2B software companies. We are passionate about working with brilliant management teams and helping scale-up businesses continue their growth trajectory. Our typical initial investment is between £2-10 million and we always look to be the capital provider of choice for our strong performing portfolio companies. Depending on the stage of the company and management team objectives, we can provide flexible capital tailored to each scenario.
Octopus is a group of innovative, entrepreneurial businesses investing in the people, ideas and industries that will help to change the world. We are experts in financial services and energy, and we care as much about the impact of our investments as the returns they generate. Today we manage more than £9.1* billion on behalf of retail and institutional investors. Our energy supply business is one of the fastest growing companies in the UK, reaching 1.8 million customers in just four years, and is the only supplier to be recommended by Which? three years in a row.
Octopus Energy, Octopus Giving, Octopus Investments, Octopus Renewables, Octopus Real Estate, Octopus Ventures, Octopus Wealth, and Seccl Technology are all part of Octopus Group. Visit octopusgroup.com.
*Includes funds under advisory mandates and the Octopus Cash service as at 30th September 2020.
Ryte is an award-winning SaaS company headquartered in Munich, Germany and one of the fastest-growing technology companies in Europe. Ryte helps businesses and agencies optimize their Website User Experience with its state-of-the-art software products.
The Ryte Platform, loved by more than one million digital marketers and agencies worldwide, focuses on 6 optimization pillars: SEO, Quality Assurance, Performance, Sustainability, Accessibility, and Compliance. This covers everything you need to delight website users.
Some of the world’s most renowned companies including Daimler, Allianz, and Sixt trust Ryte technology to help reach their website’s full potential. For more information, visit ryte.com.
Amelie Fee Baum
Brand & Communication Lead
a.baum@ryte.com