ProctorExam is bringing technology and the exam industry to a whole new level by monitoring certifications, tests, and other assessments from behind a computer screen. They’ve come a long way and are beginning their second round of funding via Leapfunder! Today we’ve asked the company’s CEO, Daniel, to share ProctorExam’s journey and what he sees in the company’s future.
Interview with CEO of ProctorExam: Daniel Haven
1. It’s so exciting to see how far you’ve come since Startupbootcamp! Tell us about ProctorExam and the progress you’ve made since the last time we saw you.
ProctorExam identifies people behind their computer and creates an exam environment for the assessment/exam industry. We started off with online students from universities and are now expanding into the private sector with exams for the financial sector, the medical world and multinationals with thousands of employees that need to be certified one way or another. Currently we are getting close to our first 1000 students using ProctorExam, spread out over 13 countries. We are growing our user base by 110% each month and have universities working with us in 4 different countries.
2. How much growth potential do you see for ProctorExam and when do you predict it will start generating income?
The growth potential is enormous since we are receiving requests from so many different sectors in which assessment is important. Having 7 universities on our payroll has given us a great boost in terms of reliability and trust and has put us in a growth phase. We are currently generating revenue and have a target of €1.4 million by the end of 2016.
3. You’ve used Leapfunder in the past, what has led you to another funding round and how will you be using the investments? Why is Leapfunder the right tool for your startup’s current funding stage?
Our first funding round was to make the product more stable, scalable and to create the first user base to gain more experience. The new funding round will solely be based on achieving quicker and more aggressive growth and creating strategic alliances with large players in the global assessment industry. Leapfunder is an easy plug and play online funding tool that won’t take my eyes of the prize, which is not funding but growth, sales and revenue. Too often startups focus solely on funding, but with the right KPI’s funding comes and not the other way around.
4. What type of investors are you hoping to attract? What is the most important thing these investors should know about ProctorExam and what it can offer them?
We are hoping to attract investors that are willing to be our ambassadors and a strong backbone for the company. We have an incredible group of investors from our previous Leapfunder round; almost everyone has pledged to re-invest in the Leapfunder round! We are an incredibly dedicated team with strong ambition and we want to surround ourselves with the best entrepreneurial investors the Netherlands can offer.
5. What do you see for the future of ProctorExam and where is it headed? Share your strategy and how you hope to acquire customers.
In 3 years, people will be given the option to do the exam on location or through ProctorExam. ProctorExam will become synonymous to doing exams at home. The very large players in our sales pipeline are awarding bodies that operate in the segments that I have described above. By partnering up with these bodies we can exponentially grow our user base by tapping into the massive pool of the assessment industry.
Sound interesting? You can get introduced to their team here: