- German low-code startup Bryter has raised $66 million in fresh funding just eight months after its Series A round.
- The funding round was led by US private equity giants Tiger Global.
- See more stories on Insider's business page .
No-code startup Bryter has raised a bumper $66 million funding round from private equity giants Tiger Global.
The funding comes just eight months after the startup's Series A as Bryter looks to accelerate its expansion in the US market.
The startup promises to make it easier for fellow businesses to build enterprise apps "without writing a line of code", across functions such as legal, accounting, compliance, and HR.
Michael Grupp, CEO of Bryter, said the firm brought forward its funding from a planned December raise.
"We have been in touch with Tiger Global for a year, they have done their homework, know the market and our customers and the funding will help us grow a global software company," he told Insider.
The company, founded in 2018, previously raised $16 million from European investors Dawn Capital and Accel in a Series A round in June 2020. Grupp said that the company signed a term sheet with Tiger Global just a week after formally receiving the offer with the round closing just a few weeks later.
The startup counts clients such as PwC, Deloitte, McDonald's and Telefónica, developing virtual assistants, chatbots, self-servicing applications and other intelligent automation tools.
The round brings the total capital raised by Bryter to-date to $90 million.
"Bryter has all the characteristics of a top-tier software company: high quality product that solves a real customer pain point, a large market opportunity and a world-class founding team," John Curtius, Partner at Tiger Global, said.
Via PakApNews