LONDON: Mindflair plc, an AIM-quoted company focused on artificial intelligence investments, announced Wednesday that fund interests in Sure Valley Ventures Fund III have participated in a $1.8 million pre-seed investment in Audrey AI, a Dublin-based startup developing an AI platform for financial auditors.
The round was led by Sure Valley Ventures and Delta Partners, with participation from Enterprise Ireland, former Calypso CEO Donnchadh Casey, former Wayflyer CBO Conor Jones, and several former auditors.
Audrey AI’s platform automates evidence gathering and testing, the most time-intensive parts of an audit engagement. In pilot programs with Top 10 and Top 20 audit firms, the system reduced time spent on client data collection, validation and tests of detail by more than 85% while improving audit quality, the company said. The system learns each firm’s specific audit methodology.
The global financial auditing market is valued at more than $100 billion but remains heavily reliant on manual processes, according to the company. General-purpose AI tools often struggle with the complex tabular data and evidence workflows required in auditing.
The funding will be used to scale the platform and expand engineering and audit specialist teams as Audrey AI grows its presence in Ireland, the U.K. and international markets.
“Audrey AI represents a compelling application of agentic AI in a high-value, highly regulated sector,” Nicholas Lee, director of Mindflair, said in a statement. “By automating the manual and repetitive workflows that have historically burdened the auditing profession, Audrey AI provides a critical solution to talent shortages and margin pressures. We believe the company is well-positioned to become a key infrastructure layer for the next generation of audit firms.”
Mindflair holds an interest in Sure Valley Ventures Fund III, which made the investment.