Defy is a seed-stage venture fund focused on emerging high-potential opportunities. It is driven by a passion for working closely with entrepreneurs, especially through the transformative time after seed funding. The firm invests in people and in their conviction and talent for creating real change. Defy was founded in 2016 by Neil Sequeira and Trae Vassallo and is based in San Mateo, California, United States.

Defy.vc

Owl Ventures is a venture capital fund that invests in education technology companies. The firm has invested in 24 companies across the education spectrum encompassing early childhood, K-12, higher education, and career mobility/professional learning. Owl leverages its deep domain expertise and takes an active hands-on approach to help entrepreneurs scale their businesses into transformative category-leading companies. The firm was founded in 2014 and has over $600 million in assets under management.

Owl Ventures

Arsenal is a growth stage private equity firm focusing on capital efficient, recurring revenue software companies. The firm partners with strong entrepreneurs to build businesses in Cybersecurity, Logistics, EdTech, AI & ML, e-Commerce, Mobility, FinTech & Payments, Compliance & Regulation, Business Productivity, HRTech, Healthcare IT, Cloud Software and Infrastructure. Arsenal was founded in 1999 and is based in Winter Park, Florida, United States.

Arsenal Growth Equity

Honorlock

Honorlock provides remote proctoring services for online assessments using webcams and screen-capturing technology. The company combines traditional methods of proctoring such as webcam, lockdown browser, and ID verification with its new patented search and destroy technology to create a world-class proctoring solution. With a focus on user experience, Honorlock requires no software to download, on-demand testing, and 24/7 support. Honorlock is headquartered in Boca Raton, Florida.

Honorlock provides remote proctoring services for online exams in higher education institutions. The company's technology combines artificial intelligence (AI) with human proctors to maintain academic integrity during online assessments. Honorlock's system records students via webcam during exams, with AI monitoring for potential violations. If irregularities are detected, a live proctor can intervene via chat to address issues. The platform includes features like browser locking to prevent access to unauthorized websites during tests. Honorlock's patented technology can also detect if students are using other devices to search for answers online without taking control of those devices. After exams, recordings and proctor notes are made available to instructors for review. The company's approach aims to deter cheating while minimizing distractions for students taking tests. As of July 2020, Honorlock's clients included schools of various sizes, including three of the ten largest universities in the US.

Secure Online Proctoring for Higher Education

The Future of Schooling with Remote Education Software

Educational technology plays a pivotal role in driving and enabling the revolution in post-secondary learning

Higher EdTech

Honorlock Named as Preferred Online Proctoring Solution for Alabama Community College System and its 24 College Members

Honorlock provides remote proctoring services for online exams in higher education institutions. The company's technology combines artificial intelligence (AI) with human proctors to maintain academic integrity during online assessments. Honorlock's system records students via webcam during exams, with AI monitoring for potential violations. If irregularities are detected, a live proctor can intervene via chat to address issues. The platform includes features like browser locking to prevent access to unauthorized websites during tests. Honorlock's patented technology can also detect if students are using other devices to search for answers online without taking control of those devices. After exams, recordings and proctor notes are made available to instructors for review. The company's approach aims to deter cheating while minimizing distractions for students taking tests. As of July 2020, Honorlock's clients included schools of various sizes, including three of the ten largest universities in the US.

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 Udemy is one of the largest online learning platforms globally, offering over 210,000 courses to more than 67 million learners worldwide. Founded in 2010, Udemy operates as a marketplace that connects independent instructors with students seeking to learn new skills or enhance existing ones.
 
 
 
 
 The platform covers a wide range of categories including business, technology, personal development, design, marketing, and more. Courses on Udemy are self-paced, allowing learners to start and complete them at their own convenience. Content is primarily delivered through on-demand video lectures, though some courses also include quizzes, assignments, and downloadable resources.
 
 
 
 
 Udemy uses a pricing model where individual courses can be purchased for a one-time fee, typically ranging from USD 11.99 to USD 199.99, though frequent sales and discounts bring many course prices down significantly. The platform also offers a subscription option called Udemy Personal Plan, which provides access to over 11,000 top-rated courses for USD 20 per month.
 
 
 
 
 One of Udemy's key features is its accessibility - courses are available in over 65 languages, and the platform can be accessed via web browsers as well as mobile apps for iOS and Android devices. Upon completing a paid course, learners receive a certificate of completion, though these are not accredited or officially recognized by external institutions.
 
 
 
 
 Key customers and partnerships
 
 
 
 
 
 Udemy caters to both individual learners and businesses. Through its Udemy for Business program, the company offers tailored learning solutions for organizations of various sizes. These business offerings provide access to curated course libraries and additional features like analytics, custom branding, and learning path creation.
 
 
 
 
 Udemy has also partnered with various organizations to expand its reach. For instance, the platform collaborates with the Linux Foundation to offer courses in cloud computing and related technologies. Additionally, Udemy works with numerous instructors who are subject matter experts in their fields, allowing them to create and publish courses on the platform.
 
 
 
 
 As of 2023, Udemy reported having over 67 million learners and more than 75,000 instructors on its platform. The company continues to grow its user base and course offerings, solidifying its position as a major player in the online education market.
 
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Udemy

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 Coursera is one of the largest online learning platforms, offering over 7,000 courses, specializations, professional certificates, and degree programs. Founded in 2012 by two Stanford University computer science professors, Coursera partners with over 300 leading universities and companies to provide flexible, affordable online learning.
 
 
 
 
 Coursera's catalog covers a wide range of subjects including business, computer science, data science, health, social sciences, and more. Courses are primarily asynchronous, allowing learners to study at their own pace. The platform uses evidence-based online teaching strategies and has an average course rating of 4.7 out of five stars.
 
 
 
 
 Coursera offers various types of programs:
 
 
 - Free courses that can be audited
 
 
 - Paid individual courses with certificates (typically USD 49-USD 79)
 
 
 - Specializations and Professional Certificates (starting at USD 49/month)
 
 
 - MasterTrack Certificates (starting at USD 2,000)
 
 
 - Full online degree programs (starting at USD 9,000)
 
 
 
 
 In 2022, Coursera reported USD 524 million in revenue. The company went public in 2021, raising nearly USD 520 million in its IPO. As of 2022, Coursera had 118 million registered learners and employed 1,401 full-time staff.
 
 
 
 
 Key customers and partnerships
 
 
 
 
 
 Coursera's university partners include institutions like Yale, Stanford, Duke and the University of Michigan. The platform also partners with major companies like Google, IBM, and Microsoft to offer professional certificates and other programs.
 
 
 Coursera's enterprise business provides online learning programs for organizations, with offerings for businesses, governments, and universities. Google's programs are estimated to generate around USD 100 million in annual revenue for Coursera. The company's user base spans 47% female and 53% male learners, with an average age of 31. Nearly half of Coursera's revenue comes from learners outside the US.
 
 
 
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Coursera

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 The Glimpse Group, founded in 2016, is a diversified virtual reality (VR) and augmented reality (AR) platform company headquartered in New York. The company operates as an ecosystem of enterprise-focused software and services subsidiaries, providing solutions across various industries. Glimpse owns and operates multiple subsidiary companies specializing in different aspects of VR/AR technology, including QReal, Immersive Health Group, Foretell Reality, XR Terra, Sector 5 Digital, and Brightline Interactive.
 
 
 
 
 The company's offerings include photorealistic 3D interactive digital models, evidence-based healthcare solutions, social VR platforms for behavioral health and soft skills training, immersive technologies for education and corporate experiences, and AR try-on technology for the beauty and cosmetics industry. Glimpse has also developed capabilities in artificial intelligence, facial recognition, and virtual try-on technologies through its acquisition of PulpoAR in June 2022.
 
 
 
 
 Glimpse's business model centralizes resources while allowing each subsidiary to specialize in particular use cases of immersive technologies. This approach enables the company to leverage its expertise across all subsidiaries while fostering innovation and collaboration. The company went public in July 2021, trading on the Nasdaq under the ticker symbol VRAR.
 
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The Glimpse Group

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 Amesite Inc. (Nasdaq: AMST) is an artificial intelligence software company that offers a cloud-based learning platform for business and education markets. The company provides a single system that combines ecommerce, instruction, engagement, analytics, and administration using advanced infrastructure to serve multi-billion-dollar online learning markets. Amesite's platform enables businesses, universities, museums, and government agencies to deliver customized, white-labeled online learning programs. The company's technology leverages cutting-edge AI to offer an innovative out-of-the-box, AI-powered learning ecosystem, complete with 24/7 learner support, up-to-date content, and ready-to-go programs for quick deployment and revenue generation.
 
 
 
 
 Amesite's platform is designed to be easily integrated with existing educational tools and systems, including leading Learning Management Systems (LMSs). The company's solutions are scalable and flexible, allowing for rapid launch and implementation without requiring additional IT resources or expensive training. Amesite's V6 platform, launched in April 2023, incorporates expanded AI capabilities powered by GPT-4, enabling enhanced AI-assisted learning and new AI-driven, purpose-built features for users.
 
 
 
 
 In addition to its core platform, Amesite has ventured into the B2C AI mobile applications market with the beta release of NurseMagic in April 2024. This app is designed to provide AI-powered tools and continuing education programs for over 5.2 million nurses, aiming to make their daily tasks more efficient.
 
 
 
 
 Key customers and partnerships
 
 
 
 
 
 Amesite has established partnerships with various educational institutions and organizations. In February 2023, the company launched its first pilot program at Benedict College in South Carolina. This program offers upskilling in technology, including internet protocols, data privacy and security, and cloud computing.
 
 
 
 
 In March 2024, Amesite announced a strategic five-year partnership with Joliet Junior College to expand workforce development. The company has also collaborated with Michigan Works! Southeast, launching 12 new courses focused on training in artificial intelligence technologies and their applications in the modern workplace.
 
 
 
 
 Amesite's partnership with Microsoft enables the company to deliver customized learning systems for organizations in as little as 24 hours. In January 2024, Amesite entered into a contract with Scottsdale Unified School District to provide teacher training on AI technology use, further expanding its reach in the education sector.
 
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Amesite

Meazure Learning is a provider of high-stakes online testing services for the higher education and professional testing markets. The company offers a comprehensive suite of exam services, including test development, psychometric analysis, and secure exam delivery through both online proctoring and physical test centers. Meazure Learning's platform allows for multi-modal exam delivery, giving test-takers the flexibility to take exams remotely or at a traditional test center. The company's services extend to certification and licensure organizations, corporations, educational institutions, government agencies, and trade and professional associations.
In June 2022, Meazure Learning acquired Scantron Corporation's Certification and Licensure business, expanding its global test center network from 300 locations in Canada to over 1,600 sites worldwide. This acquisition also strengthened Meazure Learning's exam development and psychometric services by doubling the size of its expert team. The company emphasizes the security and reliability of its testing solutions, with a focus on safeguarding intellectual property and providing convenient options for test-takers.
Meazure Learning's approach involves understanding each client's program needs, goals, and challenges to curate tailored solutions. The company offers various resources to prepare test-takers, including information about test center locations, exam delivery previews, and access to practice exams where available. Meazure Learning's services are designed to support educational and professional credentialing programs, with the stated purpose of helping to move people forward in their educational, professional, and personal pursuits.
Key customers and partnerships
Meazure Learning serves a diverse range of clients across various sectors. The company's customer base includes higher education institutions such as Temple College and the University of Texas at Tyler, where it provides online proctoring services for students. In the professional certification realm, Meazure Learning works with organizations like the Global Information Assurance Certification Program and the Canadian Organization of Paramedic Regulators. The Society of Augmented Engineers & Scientists has also partnered with Meazure Learning for their certification program. Additionally, Meazure Learning collaborates with educational institutions like Thomas Edison State University to facilitate online degree completion for working professionals.

Meazure Learning

Designers of learning programs and creators of learning content, aggregators and libraries of learning content and program, massive open online course (MOOC) platform operators, and providers of content development tools for authoring and course-building.

Providers of tools and features to improve learner engagement and learning effectiveness such as AR/VR platforms, interactive software, memory aids, and personalized student support platforms.

Technology platforms such as learning management systems (LMS), learning experience platforms (LXP), and learning content management systems (LCMS) that host in-house or third-party content, track progress, and generate analytics.

Providers of testing and assessment, identity authentication, proctoring, plagiarism-checking, digital credentialing, and feedback-gathering solutions.

Platforms that connect students with experts, specialists, and near-peers who provide academic coaching, development support, college admissions and career guidance, and career readiness support.

Platforms that facilitate communication and networking among students/faculty/alumni/institutions and those providing search, reference, and marketplace solutions.

Providers of campus operating infrastructure including enterprise resource planning (ERP), student information system (SIS), and data analytics solutions and those that support enrollment and marketing processes. Also includes technology solution providers offering security, communication, cloud, and managed services.

Companies that use GenAI as a core part of their higher EdTech product offering

Learning platforms and tools provide students with equitable access to education and improve career readiness

Higher EdTech companies use GenAI to enhance learning experiences, personalize education, and streamline administrative processes

AI technologies enable personalized learning and automation

Used for immersive campus experiences including learning, discussions, and simulations

AI and ML technologies are applied across learning management systems, student information systems, and assessments

Honorlock

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