London-based Octopus Investments, part of Octopus Group, has announced that its Development Capital team has invested €5m of growth capital into Ryte, a website quality management SaaS platform as part of a €6.5m funding round.
Based in Munich, Ryte services customers in over 50 countries providing website quality management software helping its customers continuously monitor and optimise their website’s performance. A brand’s website remains the most important digital asset for most businesses and with roughly €5.4tn in ecommerce sales forecast for 2022, those who neglect their website’s performance stand to leave sizable revenue on the table.
Today, Ryte is used by more than 1,500 companies and partners worldwide and is the website quality management platform of choice for companies including BMW, Allianz, and Boston Consulting Group.
Ryte will use this new investment to further strengthen their position within its home market, as well as pursuing growth across key European markets including expansion into the UK. The investment will also continue to support the advancement of its product by developing greater AI & machine learning capabilities that will help streamline and automate the website optimisation process.
Andy Bruckschloegl, CEO of Ryte, added: “On behalf of the whole Ryte team, we are delighted and proud to have such renowned investors place their trust in both our products and team. 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.”