Munich-based SaaS startup Ryte closes a €6.5M Series A round
German Ryte has secured €6.5 million in a Series A funding round from a London-based VC firm Octopus Investments. The previous seed round worth €4.9 million was closed by the startup in 2017, Starting Up writes.
Ryte was founded in 2012 as an SEO tool Onpage.org. Since 2017, when the startup was renamed and started its repositioning, it has been operating on the Website Quality Management market, helping businesses optimize their website quality and performance with its cloud-based software product.
The startup empowers over 1 million users worldwide to improve their website’s technical health, increase organic traffic and conversions, and avoid legal risk using its Ryte Suite. Today, more than 1,500 companies and partners worldwide including BMW, Allianz, and Boston Consulting Group rely on the Munich platform Ryte for their website quality management.
As the CEO of Ryte Andreas Bruckschlögl told, the fresh investment will enable the startup to make the website optimization services available for anyone worldwide, from global brands to small business owners. The proceeds will also help Ryte to grow across key European markets including expansion into the UK, EU-Startups reports.