IBL News | New York
ProctorU, a leader in online exam security and identity management company, and Yardstick Assessment Strategies, a prominent firm in psychometrics and computer-based exam administration, announced yesterday a deal to merge the two companies and form a new parent brand, Meazure Learning.
Scott McFarland, who was appointed Chief Executive Officer of the newly formed Meazure Learning and will continue to serve as CEO of ProctorU, said, “now, by integrating both companies’ unique offerings and strengths together, we’re poised to truly transform those markets.”
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 U.S.
In conjunction with the merger, Meazure Learning raised more than $30 million in growth capital led by Eastside Partners, which will allow both ProctorU and Yardstick to make additional investments in technology and services, according to the merged company.
ProctorU proctors about two million exams over a year, and its tools are used in more than 600 higher-ed institutions, and 200 professional organizations and companies including Google, CompTIA and Chartered Accountants of Ireland, according to the company.
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. Last year, another online proctoring provider, Examity, raised $90 million.
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 implement remote proctoring’s systems for test-takers.