Boca Raton, Florida-based Honorlock, an online proctoring service, has raised $25 million in Series B funding led by Owl Ventures with participation from Defy Partners, Arsenal Growth and existing investors.
Honorlock said the funds will be used to accelerate growth and enter new markets. A year ago, Honorlock raised $11.5 million in Series A funding for technology investments and increased headcount.
Honorlock’s proctoring platform enables academic institutions and organisations that provide customer and partner education to offer remote assessments while protecting exam integrity and creating a fair environment for learners. The company stated that demand accelerated during the pandemic when schools and businesses shut down and remote learning became the norm for college students and workers seeking professional development and certifications
Michael Hemlepp, chief executive of Honorlock, said: “The pandemic highlighted an existing need for remote proctoring that honours and supports the test-taker experience while protecting the integrity of learning institutions. The team at Honorlock is committed to creating a non-invasive and equalising environment for all. We appreciate the significant support of Owl Ventures, Defy and others who believe in the need to drive innovation and integrity in the ed tech industry.”
Amit Patel, managing director at Owl Ventures, added: “Academic institutions are in the process of a much-needed tech revolution, and it’s happening fast. Honorlock is helping move education forward by solving some of the most complex challenges schools face when building an effective and fair remote-learning infrastructure. The opportunity to be at the forefront of this shift to remote access is big, and we believe in this team’s ability and passion to lead the way.”
Neil Sequeira, co-founder and partner at Defy Partners, commented: “We’ve seen Honorlock evolve from inception to become the dominant leader in the academic market, and we’re excited about its trajectory within the corporate market. Honorlock’s mission to protect exam integrity and focus on the test-taker’s experience, at a time when this is greatly needed, resonates with the wider market need for a platform supporting exams, certifications and corporate testing. The post-pandemic market for continued remote learning is accelerating and Honorlock is in the ideal position to serve the fast-growing market.”
Date published: 29 April 2021