The German company Ryte, a ‘Website Quality Management’ SaaS platform, has landed around €6.5 million from Octopus Investments, part of Octopus Group.
Based in Munich and founded in 2012, Ryte provides customers in over 50 countries with the tools to continuously monitor and optimise their website’s performance. A brand’s website remains the most important digital asset for most businesses; the startup estimates that roughly 5.4 trillion in ecommerce sales is forecast for 2022, meaning that 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 market leading product by developing greater AI and machine learning capabilities that will help streamline and automate the website optimisation process.
Richard Court, Head of Development Capital at Octopus Investments, said: “The Website Quality Management category is a massively growing market with compelling drivers of demand from both a user experience and regulatory perspective. Ryte’s product and expertise within the Website and SEO domain positions them well to be the platform of choice for companies who are finally giving the requisite time and attention to what is their most important but often neglected digital asset, the website. We are extremely excited to be partnering with such a talented team, led by Andy, and will be supporting Ryte as it expands across Europe and beyond.”
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.”