DigiExam

DigiExam is a technology company that provides a secure online examination platform, enhancing academic integrity for educational institutions. Their offerings include advanced lockdown features to ensure a secure testing environment for various learning contexts. Founded in 2011 and headquartered in Stockholm, Sweden, DigiExam specializes in an online examination platform that supports educational institutions. The company was founded by Johan Hägglund.

DigiExam has raised a total of USD 3. 5 mn through 2 deals, with the most recent funding being a Series A round on May 6, 2016, securing USD 3. 5 mn from investors Gustav Söderström, Sophia Bendz, and Sven Hagströmer. DigiExam specializes in providing a secure and reliable online examination platform designed to enhance academic integrity and operational efficiency for educational institutions.

Their core offering includes advanced lockdown technology that ensures exam security by restricting access to external resources during assessments. The platform serves a diverse customer base including K-12 schools, higher education institutions, and professional educators, with notable users such as the City of Stockholm, which administers Swedish National Exams for over 50,000 candidates. Released over ten years ago, the platform has evolved to encompass features supporting both high-stakes and low-stakes exams, along with tools for assignments and classroom management, and is utilized across various geographical markets, particularly in Europe and North America. DigiExam's revenue model is structured around subscriptions and partnerships with educational institutions.

Clients typically engage in multi-year contracts that allow access to the platform for a defined number of users. For the most recent year, 2022, DigiExam reported revenue of USD 0 mn and an EBITDA of USD -297. 6 mn. Revenue is generated through these subscription agreements, ensuring steady cash flow as institutions leverage DigiExam's technology for assessments and may include dedicated support and consulting services to enhance implementation efficacy.

DigiExam aims to enhance its platform by designing upcoming products tailored to educational needs, with plans for a release within the next two years. The company intends to expand its reach in North America and Europe by 2024. The recent funding of USD 3. 5 mn from Series A financing will be utilized to support these initiatives and enhance product development.