Insider Brief
- Engyon raises €1M in seed funding, led by the Graduate Entrepreneur Fund, to advance its AI-powered audit automation platform for sustainability reports (CSRD), enabling auditors to enhance productivity and reduce compliance risks.
- The platform automates repetitive tasks, supports strategic client conversations, and will expand to include advanced features like risk assessments, data analysis, and fraud detection, with plans to roll out across the EU by late 2025.
- With growing demand for CSRD compliance and a shrinking auditor supply, Engyon aims to become the EU standard for audit automation, leveraging this investment to scale its R&D team and accelerate international growth.
PRESS RELEASE — Engyon, the Dutch pioneer in audit automation software, has successfully raised €1 million in a seed funding round led by the Graduate Entrepreneur Fund.
The company supports auditors in conducting audits and assurance tasks for sustainability reports (CSRD) with a next-generation software platform. Engyon users experience significant productivity gains and a reduction in audit and compliance risks.
The company was founded by Berend Berendsen (CTO), Gerben Bas (Head of Engineering), and Joachim Arts (CEO). The SaaS platform currently automates repetitive tasks, enabling auditors to focus on more strategic conversations with clients about achieving their sustainability goals. Over time, the software will assist auditors with risk assessments, automated checks, data analysis, and detecting fraud and errors.
Milestones and Goals for 2025
In 2024, Engyon advanced its CSRD audit product from concept to beta and validated the market in collaboration with five accounting firms.
As of early January 2025, the Early Access program has launched, with around 15 accounting firms testing the tool in practice. This closed program will run until July 2025, after which the software will be rolled out more broadly in the Netherlands and other EU countries to meet the growing demand for CSRD audit automation and case management software.
By the end of 2025, Engyon aims to offer its software in other European countries. The company strives to provide an integrated solution to support all auditing activities, including both financial and sustainability reporting.
Strategic Investment to Accelerate Growth
The funds raised will be used to drive international growth and strengthen the R&D team.
“There are fewer auditors available in the market, and the current tools don’t really help them do more with fewer resources,” says Joachim Arts, CEO of Engyon. “With Engyon, we aim to provide our clients with the right tools to work more efficiently and cost-effectively. Perhaps the work will even become more enjoyable; with the help of AI and language models, much of the ‘boring’ work can simply be automated.”
Graduate Entrepreneur Fund’s Vision
“Over the coming years, auditors face an immense challenge as the demand for their services will be greater than ever,” says Rui Li, an investor at Graduate Entrepreneur Fund. “Engyon combines deep market knowledge with extensive technological expertise to address this challenge. We strongly believe in Engyon’s vision to make CSRD audits more efficient and effective, and we are proud to support their growth.”
The Future of Audit Automation Software
With more than 50,000 companies in the EU required to report under CSRD from 2026 and a shrinking supply of auditors, the demand for audit software is growing. Engyon sees an opportunity to become the standard in the EU within three years for case management and AI- driven workflow automation in audits.
Call to Action
Accounting firms interested in joining the Early Access program waitlist or learning more about our solutions can contact us at [email protected] or visit our website at www.engyon.eu.
About Engyon
Engyon provides innovative case management and audit automation software to accounting firms, aiming to reduce audit and compliance risks and enhance auditor productivity.
About Graduate Entrepreneur Fund
Founded in 2021 by alumni of TU Delft, Erasmus MC, and Erasmus University Rotterdam, the Graduate Entrepreneur Fund is a venture capital fund focused on supporting promising tech startups in the Netherlands. With a combined pre-seed and seed fund of €58 million, the fund provides not only financing but also access to a vast network of over 180 experienced entrepreneurs and alumni.
Featured image: Credit: Engyon
