We are pleased to share three key developments which mark the company’s next strides into international markets and its ability to deliver technology that solves the current COVID-19 barriers to continuity in delivering education.
The pandemic has forced educational institutions and professional associations to accelerate their plans to digitise their delivery of course materials and exams. For most, COVID-19 restrictions have meant ceasing delivery of high-stakes assessments altogether. Janison’s technology, specifically Janison Remote, overcomes the physical exam delivery barriers caused by the lockdowns, by securely delivering quality-assured assessments directly into the safety of students’ homes. To this end, we are delighted to make the following announcements.
Janison debuts remote exam delivery in the Czech Republic
This month Janison signed a deal with the Czech Republic’s national exams provider SCIO, marking its first agreement to provide remotely proctored exams. The deal will see up to 50,000 online university entrance exams delivered in the country, directly into students’ homes, between May and December 2020. It also demonstrates clearly that Janison’s solutions directly line up with where the education market is heading amid COVID-19 and beyond.
SCIO is the first higher education provider which will mobilise all three of Janison’s assessment offerings: testing platform Janison Insights, proctoring platform Janison Remote and online exam proctoring. Read more about the deal here.
Janison completes $7 million capital raise
On Friday, 24 April 2020, Janison completed a capital raise of $7 million (before costs). The process, by way of private placement of 28 million new shares, was heavily oversubscribed and drew a number of significant and strategic investors including, notably, the global EdTech leader John Baker, who committed a personal cornerstone investment of $2 million. The funds will be used to invest in sales and marketing execution to support a number of international growth opportunities, platform development to target additional market segments, as well as acquisition opportunities. Read more here.
Year-to-date trading update
Today we post our financial results to 31 March 2020. Among the highlights, the company saw a 26% growth in group annualised recurring revenue compared with the previous year, a 59% growth in recurring revenue from the Assessment division, and an 11 percentage point rise in gross margin, to 44%. See the full update here.
Overall, there has been a substantial increase in inbound enquiries in recent months for online learning and digital exam delivery solutions. The evidence suggests that new business opportunities will accelerate once the current COVID-19 disruptions subside. We look forward to more of these new developments as they arise.
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