Claret Capital backs Dublin's LearnUpon with $45M growth facility

LearnUpon, the Dublin-based provider of enterprise learning software, has secured a $45M growth financing facility from Claret Capital Partners, a London-based independent growth debt fund manager.

The company operates a platform designed to help businesses manage employee and customer training, with a recent focus on agentic AI to automate administrative workflows and content curation. Founded in 2012 by Brendan Noud and Des Anderson, LearnUpon provides an enterprise learning management system built around AI-driven agents that handle administrative learning tasks, allowing internal teams to prioritize strategic impact over maintenance.

The capital is earmarked for three purposes, according to the company: accelerating product development for its agentic learning platform, expanding its international market presence, and pursuing strategic acquisitions. That the deal takes the form of growth debt rather than an equity round is notable for a company that has spent more than a decade building out an enterprise LMS business; growth facilities of this kind are typically used by software companies that want to fund expansion or bolt-on M&A without diluting existing shareholders.

The involvement of Claret Capital Partners keeps the financing European on both sides of the table. Claret is a London-based growth debt manager, while LearnUpon has built its business from Dublin — a pairing that fits the Irish company's stated goal of deepening its footprint in international markets where enterprise learning software demand continues to expand.

LearnUpon's positioning rests on the shift it describes from traditional learning management systems toward what it calls an agentic learning platform. Rather than treating training administration as a manual function, the company's pitch is that AI agents can absorb the operational load of managing content libraries, tracking learner needs and delivering the right material at the right time. Its customer base spans employee development, customer education and associations — three segments where training is tied directly to retention, revenue and member engagement.

The funding was announced on October 16, 2026. LearnUpon did not disclose additional terms of the facility, and no valuation was provided.