HMT LLP advised Downing Ventures on their £5 million investment in software suite of school learning tools Firefly.
Created by two GCSE students Joe Mathewson and Simon Hay, Firefly is a software suite that enables teachers and students to have access to school information online and out of the classroom. Firefly gives teachers more time to teach, enables students to learn in ways that work best for them, and involves parents with their child’s learning every step of the way.
With teams based in London, Brighton, Singapore and Sydney, Firefly has grown rapidly and now supports more than a million students, teachers and parents across 40 countries.
This transaction is the second fundraising for Firefly after having secured £4.5 million in 2016. Downing Ventures led the £5 million round in the business with participation from BGF and Beringea.
The Series B investment will enable Firefly to strengthen its presence on the UK market as well as develop internationally.
HMT, led by Paul Read and Corin Briault-Hutter provided due diligence services on this transaction.
James Lewis, Investment Director at Downing commented:
“HMT provided us some great insight into the business and as aways were quick to engage, respond and complete, great work!”
Paul Read commented:
“We are delighted to have advised Downing Ventures on their investment in Firefly. The edtech sector is expanding rapidly and businesses such as Firefly make a real difference to students, teachers and parents alike. We look forward to working with them again in the future.”