Newton-based online proctoring platform provider Examity raised $90 million in a new round of funding led by Great Hill Partners. The Boston-based venture capital firm also invested other local companies like BlueSnap and MineralTree, and recently bought the Gizmodo group that publishes websites including The Onion, Jezebel, Lifehacker and more.
This brings the startup's total venture funding to over $120 million. The company took over TripAdvisor's old office in Newton.
Examity works like this: The software integrates with institutions’ learning management and test delivery systems, including Moodle and Blackboard, so students can take tests through the online portals they normally use for school.
And it is a two-pronged approach: First part of online proctoring is authentication where AI matches a person's face to the ID. In addition, there is also a biometric solution to test the typing pattern. There are also security questions one can answer. The company allows institutions to choose from a preferred method.
The second part is testing fairness. The software can detect if someone already knows the questions beforehand depending on response times, or if the person leaves the testing area or if they look at something they shouldn't be. Apart from these, the company also offers human intervention where someone watches the test taker through a webcam.
Examity's funding comes at a time when college entrance exams have been a topic of controversy.
"I think it's a crucial time to be raising funds," said Examity CEO Michael London. "It's my belief that some challenges you read about could prod more testing to move online. Although this fundraise isn't a direct result of that, testing and validation have been a challenge for a very long time."
The company offers its solutions to universities world over. In the U.S., Boston University, Northeastern University, Penn State and Indiana University are some of its clients. It also works employers and certification providers, including Amazon, MongoDB, Tableau and SAP.
The company will direct a portion of the proceeds towards paying out investors and then focus on international expansion, bolstering its presence in Europe.
In terms of headcount, the company plans to hire for roles in sales, marketing, developers, account management and leadership. It currently employs a staff of 100 people and is steadily hiring 15-20 new employees every quarter.
