Remote exam proctoring – a method that supports a “pandemic state of being” as well as homeschooling, learning and infection safety protocols, is quickly taking over the traditional examination hall setup.
Post-2020, it certainly looks like the taste for remote examinations being made the preferred option and the “new normal” is seeing these sorts of companies gain the lead when it comes to investment and interest from major and middleweight investments firms, particularly in the UK and US.
A great example of this is a much-admired San Francisco middle-market private equity firm, Gryphon Investors, showing their interest in Meazure Learning, a company which supplies assessment products and services – including remote exam proctoring (remote examination centres with moderating – UK).
Gryphon Investors, in a deal in which the financial details of the transaction were not disclosed, is now the majority investor in Meazure Learning.
Who is Meazure Learning?
Meazure Learning is the world’s largest remote exam proctoring company. (In the UK and Europe, this might be called this a “remote examination centre, moderator and ‘exam marking’ org.)
Meazure Learning offers the whole ‘pipeline’ for the examination centre: this EdTech company offers assessment products and services, including proprietary exam development and delivery software, and reporting.
Meazure also offers psychometric services to the academic and professional testing markets, where these services may well be taking a more prominent role as remote interviewing and the trend towards “neutral”, outsourced remote HR begins to take hold in companies looking to reduce their labour expenses.
Meazure Learning is the result of a merger between two companies to create a large umbrella brand. This merger was formed of ProctorU and Yardstick Asssessment Strategies, in early 2020. This has helped form a powerful, end-to-end company that specialises in remote exam proctoring.
Eastside Partners and Meazure’s company management team retain stake
It is currently understood that Eastside Partners and Meazure’s company management team, including CEO Scott McFarland, are retaining a significant ownership stake.
“Gryphon has invested previously in the education sector, and we are excited by the trends we’re seeing in the continued intersection of technology and learning. The increasing consumer preference for digitally driven flexibility has opened up a multi-billion-dollar market opportunity in the academic and professional remote testing spaces,” said Nick Orum, president and co-head of Gryphon’s Software Group. “We are thrilled to partner with the team at Meazure as we look to welcome new customers and reinforce the company’s position as the most secure, convenient and accessible experience for test-takers across the globe.”
Thanks to the this new partnership, Orum will join Measure’s board of directors, along with three other Gryphon executives: Software Operating Partner, Carl Theobald; Jon Cheek, a principal in the software group; and Paul Margolis, executive adviser to the software group. Eastside Partner Benjamin Cobb will remain on the board.
Remote exam proctoring is already becoming the norm
“Even before COVID-19, remote test-taking was undergoing a ‘Blockbuster to Netflix’ type transformation due to massive expansion in e-learning, a proliferation of professional training and certification programs, and a growing recognition of the test-taker convenience and cost savings offered by an online approach versus in-person testing.
The pandemic has accelerated these growth trends beyond all expectations and given strong players like Meazure an enormous competitive advantage.”Jon Cheek
Based in Birmingham, AL (USA), Meazure Learning employs nearly 300 people plus a network of over 1,300 trained proctors, and it serves more than 1,000 clients including major universities, certification and licensure associations, standardized testing services, and corporation
Baird acted as financial adviser to Gryphon, and Raymond James was the financial adviser to Meazure. Kirkland & Ellis acted as legal adviser to Gryphon, and Bradley acted as legal adviser to Meazure.
About Meazure Learning
Meazure Learning (www.meazurelearning.com) 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-augmented 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 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.
About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $5.0 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $500 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.