Industry: Software
Veri is the award-winning training compliance software (SAAS product) developed by Irish startup company Fioru Software Solutions. Having delivered training in data protection and after 20 years buying, delivering and funding training, founder Ann-Marie Mc Sorley decided that there had to be a safer, cheaper and better way of tracking and tracing training outcomes for training audits. Veri replaces spreadsheets and paper forms. Its modular format ensures every course can be customised to track milestones, skills, feedback, and outcomes in real time via a simple mobile app, customisable to the company’s internal training or external sub-contractor. This data is viewable in custom reports or as an aggregate in data analytics to remediate problems quicker and ensure a better return on training investment.
The Challenge
Ann-Marie needed assistance working on her strategy, preparing for investment and identifying sources of funding.
The Solution
South East BIC engaged with Ann-Marie McSorley of Fioru while she was participating in the New Frontiers 2 programme at IT Carlow and started working with her focusing on business planning and investor-readiness. Intensive business planning sessions were scheduled and South East BIC’s engagement with Ann-Marie and the team at Fioru continued for over 2 years.
The Outcome
Receiving Competitive Start Fund in early 2017 allowed the Fioru team to expand and commercialise their SAAS product, followed quickly that same year by investment from an Angel investor, and Enterprise Ireland coming on board, making Fioru a HPSU by end of 2017. South East BIC worked closely with the Fioru team in the development of these strategies and the preparation of the company resulting in these investments. Fioru now employs 6 people, based in Kilkenny and Northern Ireland and will be working with South East BIC again this year as they commence preparation for another fundraising round.
“We would not have achieved CSF and HPSU without the strategic support and advice we got from South East BIC. We recommend that any innovative startup who intends to scale and needs to raise money, should get in touch with the team there and get their invaluable help and assistance.”
Ann-Marie McSorley, CEO & Founder, Fioru Software Solutions
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