Meazure Learning raises more than US$30M in growth capital in conjunction with the merger, enabling additional investments in technology and services
BIRMINGHAM, Ala. and OTTAWA, Ontario, Jan. 14, 2020 /PRNewswire/ -- ProctorU, the world's largest online exam security and identity management company, and Yardstick Assessment Strategies, leaders in psychometrics and computer-based exam administration for professional testing organizations, announced today the completion of a deal to merge the two companies and form a new parent brand, Meazure Learning. The merger positions both ProctorU and Yardstick for rapid expansion in both professional testing and higher education using ProctorU's industry-leading approach to security and identity management.
"ProctorU and Yardstick have already proven themselves as leaders in their respective markets, and now, by integrating both companies' unique offerings and strengths together, we're poised to truly transform those markets," said Scott McFarland, who has been appointed Chief Executive Officer of the newly formed Meazure Learning and will continue to serve as CEO of ProctorU.
In conjunction with the merger, Meazure Learning raised more than US$30 million in growth capital led by Eastside Partners, which will allow both ProctorU and Yardstick to make additional investments in technology and services. While professional testing has historically utilized physical test centers as the sole delivery method for high-stakes exams, both hybrid and remote models using AI-technology and computer-based exam delivery can improve security and convenience for examinees.
Yardstick and ProctorU will each continue to operate under their respective brands. Yardstick will serve as Meazure's market-leading professional testing business unit, while ProctorU will continue its leadership and focus in higher education. Yardstick's management team and headquarters will continue to be based in Canada, with planned expansions for its locations in Ottawa, Toronto and Edmonton. ProctorU will maintain its headquarters in Birmingham, Alabama, and offices throughout the United States.
In recent years, both ProctorU and Yardstick have seen increasing demand for online testing solutions in the professional testing and credentialing markets – a market that is valued at US$3 billion – and both companies independently recognized the strong potential for growth in this space. The online professional testing market is likely to grow rapidly in the next five to 10 years, as professional training and credentialing leaders continue to take advantage of remote proctoring's increased flexibility for test takers, as well as its increased security and test integrity compared to traditional models.
Now, through this merger, Meazure Learning is equipped to deliver a complete, end-to-end online testing solution – incorporating psychometrics, test development, test delivery, secure proctoring, reporting and more – designed specifically to meet the demands of this market. The company's full suite of customizable, leading-edge online testing solutions allows test takers to complete their tests virtually anywhere and at any time, while ensuring the greatest possible exam security. As the first full-service testing provider to offer a secure online delivery model supported by ProctorU's AI-augmented exam security platform, in addition to the physical test center network, Meazure Learning is uniquely well-positioned to meet the evolving demands of this quickly growing market.
"By adding ProctorU's technology and suite of secure proctoring solutions to the Yardstick platform, we are now able to bring enhanced security to physical test center delivery, as well as offering improved service and security for clients seeking and using remote testing," said Isabelle Gonthier, President of Yardstick and leader of Meazure's professional testing business unit. "Meanwhile, ProctorU's capabilities and success in higher education have never been greater. The merger enables our two businesses to focus on our respective markets, each with our own brand and a dedicated team to ensure we stay at the forefront of both professional testing and higher education."
The successful launch of ProctorU's Live+, the industry's first AI-augmented exam security platform, raised the bar on remote testing in 2018. Artificial intelligence security models will be used in both markets to ensure the highest level of security is available to high stakes professional testing and higher education customers.
"Clients like Google, CompTIA, Chartered Accountants of Ireland and many others have made significant bets on the future of learning, and have partnered with ProctorU to help them achieve their goals," said Benjamin Cobb, Chairman of Meazure Learning. "At the same time, Yardstick customers have leveraged Yardstick's psychometric and test development services, and developed and delivered the highest-stakes exams possible using flexible and secure technologies such as Measure, Redpen and Itematic. Together, we are excited to offer an unrivaled end-to-end assessment platform, capable of test development, exam delivery and the highest levels of exam integrity. The collective people and technologies allow us to bring new and better solutions to the global market."
About Meazure Learning
Meazure Learning is a full-service testing solutions company for academic, professional and lifelong learners. The result of a merger between ProctorU – the world's largest provider of online, artificial-intelligence-backed exam security and identity management solutions – and Yardstick Assessment Strategies – a leader in psychometrics and computer-based examination administration for professional testing organizations – Meazure Learning now serves the higher education market via the ProctorU brand and the professional testing market via the Yardstick brand. As the first end-to-end testing provider to lead with an online delivery model, Meazure Learning is transforming the testing and assessment landscape. For more information, visit us at meazurelearning.com, proctoru.com, and https://yas.getyardstick.com/.
SOURCE ProctorU; Yardstick Assessment Strategies