CHICAGO, April 28, 2021 (GLOBE NEWSWIRE) — Certiverse, the first-of-its-kind online exam development system, today announced a new $2 million Series Seed financing round. The growth financing is led by Hyde Park Venture Partners, with follow-on participation from existing investors Chingona Ventures, Angeles Investors and Hunt Holdings, LP.
With more than two decades of experience solving testing industry challenges with technology, Certiverse CEO and co-founder Ruben Arturo Garcia invented and patented a remote proctoring system, since acquired by PSI Services, that significantly drove down overall exam costs and provided greater access to test-takers. Certiverse is now doing the same for exam content by developing a platform where subject matter experts can contribute asynchronously to leading industry exams and certifications. The move toward democratizing learning, with a focus on diversity, equity and inclusion, is also fueling the need for the company’s all-in-one online solution.
Founded in 2019, Certiverse launched its first live exam with The Linux Foundation in late 2020. This new entry-level certification in the IT space was developed in 12 weeks without upfront content-creation costs, enabling aspiring professionals to begin IT careers with proven, up-to-date skills and lower financial barriers to entry. The success of this exam brought multiple new clients to Certiverse and thousands of qualified candidates to the workforce.
Building on this momentum, the funding will be primarily targeted toward developing additional solutions for clients and increasing product visibility. Hyde Park Venture Partners’ interest in Certiverse was increased by the current acceleration of online learning and microcredentialing borne of pandemic-related employment shifts, as well as the more than 200 years of industry experience within the organization.
“Tech start-ups are everywhere, but it’s not often that you find one with such a wealth of industry experience and insight,” said Allison Weil, Investor at Hyde Park Venture Partners. “The Certiverse team has deep roots in certification, and they have a strong vision for how the test development process needs to evolve.”
“We seek out connections with partners who understand our goals,” said Ruben Arturo Garcia. “We’re deeply appreciative that Hyde Park Venture Partners shares our desire to transform and innovate a market that’s poised for change.”
About Certiverse:
Certiverse helps learners succeed by democratizing the exam development process. Its revolutionary online platform uses industry-leading psychometric standards, intuitive machine learning, and asynchronous crowdsourcing from experts to quickly create rigorous, cost-effective exams. Certiverse is an industry innovator empowering organizations to engage, expand, and diversify their pools of subject matter experts, rapidly develop valid test content at scale, and create exams with less environmental impact.
