Spanish online voting firm Scytl pockets $40M from Vulcan Capital

By VCPOST Staff Reporter

Apr 07, 2014 07:50 AM EDT

Spanish digital voting services provider Scytl has scored a $40-million investment from the growth equity fund of Vulcan Capital, according to The Wall Street Journal (WSJ).

PR Web cited Vulcan managing director Abhishek Agrawal said of the online voting company: "Scytl is playing a pivotal role in helping governments worldwide to further embrace technology-driven modernization in their election processes, an area which will continue to undergo massive transformation in the coming years. We are excited to partner with Scytl which is at the forefront of this with its full suite of election modernization solutions which governments can adopt on a gradual basis."

Scytl will use the new capital to fuel its research and development efforts. The company will also use it to fund strategic acquisitions and growth acceleration, the report detailed.

Founded in 2001, Scytl's goal is to modernize election processes through online vote registration, poll workers' training, online voting, and vote counting. The company now caters to 30 countries including Canada, Australia, and Mexico, WSJ reported.

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