In a recent move, Ryte, a Munich-based SaaS startup, raised €6.5M in funding led by Octopus Investments’ Development Capital team, part of Octopus Group.
Other investors, including SEK Ventures, Mayflower, and existing shareholders, including PD Ventures also participated in the round. To date, the company has raised a total of €11.4M in funding over four rounds.
It’s worth mentioning that the UK investor Octopus Group has more than £9.1B (approx €10B) under management and is one of the largest early and growth-stage investment managers in Europe.
“We are delighted and proud to have such renowned investors place their trust in both our products and team,” says Ryte’s co-founder and CEO Andy Bruckschloegl. “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.”
The SaaS company will use the funding to consolidate its position within its home market and pursue growth across key European markets, including expansion into the UK. A part of the investment will be used to support product development as well.
Renamed to Ryte in 2017
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 Website Quality Management focused solutions.
Currently, the German company helps businesses optimise their website quality and performance with its cloud-based software product.
Typically, a brand’s website remains the most important digital asset for most businesses. With roughly €5.4T in e-commerce sales forecast for 2022, those who neglect their website’s performance stand to leave sizable revenue on the table, says the German company.
Founded by Marcus Tandler, Bruckschoegl, and Niels Doerje, Ryte is used by more than 1,500 companies and partners worldwide including BMW, Allianz, and Boston Consulting Group.
Talking about the software, Ryte Suite is made up of three tools — Website Success, Content Success, and Search Success to help users increase traffic and conversion rates of their websites. The company’s portfolio also includes — BotLogs, an innovative alternative to logfile analysis, which enables SEOs to easily analyse bot traffic on their website in real-time.
Ryte currently has offices in Munich and Ho Chi Minh City with 78 employees.