Boca Raton, Florida-based Honorlock, an online proctoring service, has raised $11.5 million in Series A funding led by Neil Sequeira from Defy Partners.
Honorlock stated that its hybrid proctoring model combines artificial intelligence and machine learning with live proctors to thwart cheating while delivering a non-threatening online testing environment for honest test-takers. The company experienced triple-digit growth last yerar, including proctoring exams for three of the 10 largest universities in the US.
The company added that its cloud-based proctoring system integrates schools’ learning management systems and is designed around usability and ease of use. Clients include the University of Florida, the University of North Alabama and Florida International University.
Honorlock stated the funding will be used to accelerate its growth, technology and expansion into new markets.
Sequeira said: “We’re excited to be partnering with Honorlock at a time when their high-quality, remote ed tech solutions are critically important. With online proctoring growing to a $19 billion market, we know the opportunity ahead for Honorlock is bright. We look forward to providing additional resources and working closely with Michael and the Honorlock leadership team to continue their tremendous growth and expansion.”
Honorlock chief executive Michael Hemlepp (pictured) said: “We’re energised by the growth we’ve experienced this past year and have ambitious plans to accelerate it. With the influx of capital and the power and expertise of both our board of directors and tech advisory board, we’re uniquely positioned to deliver extreme value to our clients.”
The company also announced three new appointments to its board: Steve Miller, founder of Highwinds and Omicron, Neil Sequeira, co-founder of Defy, and Thomas Whytas, former chief financial officer of METI.
Founded in 2016, Defy Partners is a Silicon Valley-based venture firm exclusively focused on early Series A.