Examfly scores €1.5m seed funding and expands to the UK

6 Feb 2024

Examfly founder and CEO Deirdre Lyons. Image: Dogpatch Labs

Clients of the start-up founded by Deirdre Lyons include big names in professional services from Deloitte and EY to Grant Thornton and, most recently, PwC.

Examfly, an edtech start-up that has developed a learning platform for the professional services sector, has secured €1.5m in seed funding.

Based in Dublin, Examfly builds interactive learning technologies for anyone preparing for professional exams in finance, accounting or taxation, as well as continuous training and development of employees within firms.

It was founded in 2020 by Deirdre Lyons, a chartered tax advisor and former wealth management executive at Davy. The team works with subject matter experts, software developers, animators and game designers to create curated modules for its platform.

Today, Examfly clients include big names in the industry from Deloitte and EY to Grant Thornton and Vialto Partners. Most recently, it struck as two-year deal with PwC in the UK.

“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,” Lyons said.

The latest funding round saw participation from several exited founders and tech executives, including Scale Ireland chair Brian Caulfield. According to Lyons, the funding is timely as it comes after a “challenging” year for business and start-ups.

“This latest investment reflects the strong confidence our investors have in our product. They see our success and share our ambition,” she said.

Examfly has previously raised more than €600,000 in its pre-seed round in 2020 from various angel investors and with support from Enterprise Ireland under their High Potential Start-up Programme.

Now, the start-up plans to use the latest investment to further develop its platform, refine its generative AI production engine and continue its international expansion. It also expects to double its headcount of five by the end of this year.

“We have a strong and talented team with plans to add more people this year,” Lyons went on. “Working together, we look forward to developing the platform and service offering and growing our customer base in the UK and beyond.”

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Vish Gain is a journalist with Silicon Republic