BOCA RATON, Fla.--(BUSINESS WIRE)--Honorlock, an authentication and academic integrity platform, announced it has raised $25 million Series B funding led by Owl Ventures with participation from Defy Partners, Arsenal Growth and existing investors to further accelerate growth and enter new markets.
Just one year ago, Honorlock raised $11.5 million Series A funding to accelerate technology investments and talent aimed at supporting its quick ascent to exclusively serve top higher education institutions across the world.
“The pandemic highlighted an existing need for remote proctoring that honors 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 equalizing environment for all,” said Michael Hemlepp, CEO, Honorlock. “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.”
Honorlock’s AI plus human-touch proctoring platform enables academic institutions and organizations that provide customer and partner education to offer remote assessments while protecting exam integrity and creating a fair and equitable environment for learners. Demand accelerated during the pandemic when schools and businesses closed their doors and remote learning became the new norm for college students and workers seeking professional development and certifications.
“Academic institutions are in the process of a much-needed tech revolution, and it’s happening fast,” said Amit Patel, managing director at Owl Ventures. “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.”
“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,” said Neil Sequeira, co-founder and partner at Defy Partners. “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.”
Honorlock’s cloud-based proctoring system integrates with learning management platforms and is designed around integrity, usability and ease of management. Customers include University of Wisconsin, University of Florida, Georgia Institution of Technology and Texas A&M, among many others.
Honorlock is revolutionizing the way academic and corporate institutions enable equity in online courses and exams. Our purpose is to uphold honesty and integrity. We focus on reaffirming the trust we have in students while assuring integrity for the institution, each instructor’s knowledge and value, and the exams themselves.
About Owl Ventures
Owl Ventures is the largest venture capital fund in the world focused on the education technology market with over $1.3 billion in assets under management. The Silicon Valley based firm invests in the world's leading education technology companies across the education spectrum encompassing PreK-12, higher education and future of work (career mobility/professional learning). Owl Ventures has deep domain expertise and leverages a global network of Limited Partners, investors, and strategic partners to help entrepreneurs scale their businesses into transformative category leading companies.
About Defy Partners
Founded in 2016, Defy is a Silicon Valley based early stage venture capital firm. Defy was founded to invest in entrepreneurs and companies looking to solve complex problems. Defy's focus is to help early stage companies mature and scale into companies ready for growth capital. The firm's team has more than 50 years of venture experience, successful operating backgrounds and actively helps successful entrepreneurs grow companies from inception through exit.