Honorlock, a Boca Raton-based edtech startup that provides online proctoring tools to educational institutions conducting proctored exams, has raised $11.5 million in a Series A funding round led by Neil Sequeira, co-founder of Defy Partners.
The fresh funds will be used to accelerate Honorlock’s growth, technology and expansion into new markets. With the funding, the company has added Neil Sequeira, Co-founder of Defy Partners, Steve Miller, Founder of Highwinds and Omnicron, and Thomas Whytas, former CFO of METI, to its board.
Founded in 2015, Honorlock is a cloud-based proctoring system that integrates with third-party learning management systems to help educational institutions protect academic integrity in online courses and assessments. It provides on-demand proctoring services for schools and universities. Its hybrid proctoring model combines AI and Machine Learning with live proctors to thwart cheating while delivering a non-threatening online testing environment for honest test takers. Honorlock’s clients include University of Florida, University of North Alabama and Florida International University.
Talking about its growth experience in the past year and future plans, Michael Hemlepp, CEO of Honorlock, said,
“We are energized 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 are uniquely positioned to deliver extreme value to our clients.”
Honorlock claimed it experienced triple-digit growth in 2019, including proctoring exams for three of the 10 largest universities in the US.
Commenting on the funding, Neil Sequeira, Co-founder of Defy Partners, said
“We are excited to be partnering with Honorlock at a time when their high quality, remote edtech 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 offers exclusive proctoring features such as Search and Destroy, Multi Device Detection, Live Pop-In, and Voice Detection. The company gives utmost priority on academic integrity, continuously innovating to hinder cheating. Honorlock’s patented mobile device detection system is the only technology of its kind.