Business

Learning platform Examfly raises €1.5m in seed funding

Company is planning its expansion to the UK

Examfly has raised €1.5m in seed funding.

Ciara O'Brien
Tue Feb 6 2024 - 09:14

Learning platform Examfly has raised €1.5 million in seed funding to fund its expansion to the UK and double its staff numbers.

The Irish software start-up, which was founded by former Davy executive Dee Lyons in 2020, has already signed a two-year deal with PwC in the UK, and counts EY, Deloitte and BDO among its clients.

A number of new investors have come on board, including Scale Ireland chair Brian Caufield, and some unnamed exited founders. The company’s platform is aimed at professionals and students preparing for the financial, accounting and taxation professional exams or engaging in continuous development and training.

The funding will be used to further develop the platform, including refining its generative AI production engine. It currently employs five people.

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“Examfly is transforming the learning model for students taking professional exams and those undertaking training in finance, with extremely positive feedback and encouraging statistics on pass rate improvements,” said Ms Lyons.

“2023 was a challenging year for business and the start-up community and we’re very pleased with the success of this funding round. This latest investment reflects the strong confidence our investors have in our product. They see our success and share our ambition.”

Ms Lyons said the company planned to expand its team as it developed its product and grew its customer base in the UK and beyond.

The funding is in addition to more than €600,000 it raised in pre-seed funding in 2020, with angel investors and Enterprise Ireland backing the company.

Ciara O'Brien

Ciara O'Brien

Ciara O'Brien is an Irish Times business and technology journalist

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