Additional Bayern Kapital investment will enable Ryte to scale up both its team and product development in Munich and beyond to meet rapidly increasing demand for solutions that support website performance.
Munich / London, Apr. 13, 2021 – Ryte, the Munich-based leading website quality management platform, today announced it has completed a second closing of its Series A financing, securing an additional €2 million growth capital from Bayern Kapital, the venture capital company of the Free State of Bavaria. Ryte’s initial Series A growth funding of €6.5 million led by Octopus Investments’ Development Capital team had been announced earlier this year. The additional investment now closes out Ryte’s Series A investment at €8.5 million.
Ryte is a fast-growing, award-winning SaaS company that is used by more than 1,500 companies and partners worldwide, including BMW, Allianz, and SIXT to improve website performance and quality. Founded originally in 2012 in Munich as an SEO tool (Onpage.org), the company was renamed to Ryte in 2017 as part of the development of the company to help brands deliver a holistic Website User Experience.
In today’s digital economy, the importance of overall website performance -- particularly during the pandemic -- to business success is increasing rapidly. A 2020 Boston Consulting & Ryte study (“The Real Cost of Website Quality”) showed that the effectiveness of marketing expenditures (ROI) can be increased by 26% for companies with high-quality websites. Ryte’s platform, the Ryte Suite, incorporates all performance and quality-related aspects websites need to deliver a positive User Experience (UX), including monitoring, speed analyses, technical SEO, accessibility, mobile readiness, legal risks and GDPR compliance, and more.
“With both the company and my personal roots in Bavaria, I am extremely proud that Bayern Kapital have chosen to place their confidence in our team and product with their investment. Their strong network and experience in supporting the growth of local Bavarian companies will be a great asset to us as we look to use the additional funds to help us accelerate our growth further and pursue our stated goal of helping brands worldwide make the Website User Experience the best it can be,” said Ryte CEO Andreas Bruckschlögl.
Bayern Kapital provides founders of innovative high-tech companies as well as innovative young technology companies with equity capital financing. Its portfolio currently comprises around 80 companies. Thus far, Bayern Kapital has invested approximately 350 million euros of equity capital in nearly 290 innovative technology-oriented companies, with more than 8,000 long-term jobs created.
“We are pleased to have the opportunity to contribute to the growth story of a young local company that has such a strong reputation for product excellence in the fast-growing field of Website Quality Management and User Experience. With close to 100 jobs created in Munich already, we look forward to partnering with Ryte as it develops and expands further,” said Bayern Kapital’s Managing Director Roman Huber.
Bayern Kapital GmbH, based in Landshut, was founded on the initiative of the Bavarian government in 1995. It is a wholly-owned subsidiary of the Bavarian LfA Förderbank . As the venture capital organisation of the Land of Bavaria, Bayern Kapital provides equity capital financing for the founders of young innovative technology companies in Bavaria. Presently Bayern Kapital manages twelve investment funds with a total volume of around €500m. So far, it has invested roughly €350m in about 290 innovative companies in the fields of technology in various sectors including life science, software & IT, medical technology, materials and new materials, nanotechnology and environmental technology. In this way, more than 8000 long-term jobs in sustainable companies have been created in Bavaria.
Further information is available here: bayernkapital.de/en/
Press Contact Bayern Kapital:
IWK Communication Partner
Andreas Klein / Dominik Neumüller
+49. 89. 2000 30-30
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