Berlin – SMP has advised London-based early-stage investor Dawn Capital on its further investment in legal tech company BRYTER in a Series B financing round totaling USD 66 million. BRYTER, based in Berlin and Frankfurt and with offices in New York and London, operates an AI platform that enables large companies in particular – such as McDonald's and Telefónica – to automate repetitive processes that would otherwise have to be handled by legal departments. In addition to Dawn Capital, US-based investment firm Tiger Global acted as lead investor, alongside existing investors Accel, Notion Capital and Cavalry Ventures. To further pursue its goal of becoming a global software company, BRYTER, which was launched just two years ago, now intends to use the capital raised primarily to drive its expansion into the US market. This is already the second financing round for BRYTER within ten months, for which SMP was mandated by Dawn Capital. In June 2020, the investor has already received comprehensive legal advice from a Team led by SMP partner Benjamin Ullrich.
"The funding round and also the new valuation only less than one year after the Series A round are impressive. BRYTER's no-code platform, which is gaining traction in many large enterprises, has the potential to change the way entire industries and professions operate. Programmers are a scarce resource in companies. With no-code, however, specialist departments can create their own applications without any programming knowledge – a seemingly limitless market. We are delighted to have supported Dawn Capital again as advisors in this transaction," says Benjamin Ullrich.
Advisors Dawn Capital: SMP
Dr. Benjamin Ullrich (Lead), Partner
Daniela Machado, Senior Foreign Associate
Dawn Capital is Europe's largest specialized B2B software investor. The firm partners with innovative companies that can become category-defining global titans through exceptional teams, products and business models. Dawn is an early-stage investor, supporting Series A and B companies and funding the best-performing companies through growth rounds to exit. In B2B software, Dawn focuses on four areas: Data and Analytics, Security, Fintech, and the Future of Work. Previous investments have included the likes of Mimecast and iZettle, and current investments include some of Europe's leading software companies such as Collibra, Showpad, Dataiku, Templafy, Quantexa, Garrison and Tink.
BRYTER is a leading no-code expert knowledge automation platform. Founded in 2018 by Michael Grupp, Micha-Manuel Bues and Michael Hübner, the company helps consulting firms, banks, corporations and public administration around the world to digitize and scale their services. BRYTER specifically targets legal, finance, tax and compliance professionals who want to automate recurring and standardizable decision-making processes.
SMP is a boutique law firm for tax and business law which is active in the core fields of Tax, Funds, Corporate, Litigation and Transactions. The attorneys and tax specialists at SMP represent a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations as well as private equity and venture capital funds. Founded in 2017, SMP has become one of the leading players for venture capital, private equity and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus and Chambers and Partners. Today, SMP has more than 60 experienced lawyers and tax specialists in three Offices in Berlin, Hamburg and Cologne.