Proctor360 Becomes "Awarded Vendor" for The Interlocal Purchasing System

Proctor360 is proud to announce that on Thursday, May 27th, Proctor360 was awarded a three-year vendor contract for providing online exam proctoring to members of the The Interlocal Purchasing System (TIPS)-- a national cooperative that provides access to competitive procurement for education, government, and non-profit agencies. As an "Awarded Vendor", Proctor360 can now offer its broad range of remote proctoring services to a national network of public entities without the delay of a typical bidding process.

As we continue to work to generate new revenue and return value to our shareholders, we are always seeking new opportunities to market our remote proctoring technology and services.

Read our full press release here...

In case you missed it...

In May we published a full update on our progress since our last funding round. We're generating traction in the market as schools and organizations continue to seek better, more advanced, and efficient remote proctoring services for online exams. We currently provide our platform and services to several colleges and organizations, and we're one of the only remote proctoring companies in the United States providing a government compliant cloud solution for our services to industries that must comply with strict regulatory standards for sensitive data such as nuclear energy.

Since our last investor update, we've responded to requests for proposals from several higher education institutions and we're actively pursuing opportunities there as well as with professional certification bodies such as the Association of Finance and Insurance Professionals-- one of our current customers.

Exciting News Coming Soon...

Proctor360 is preparing for some more exciting news that we will be sharing with all our investors and the general public in the very near future, so stay tuned!

Your interest in investing in the future of Education Technology and your vision for the growth of E-Learning is a powerful statement about where our efforts can take us.  We look forward to sharing with you all our successes on this path to becoming a leader in remote proctoring technology.

On The Road To Success

• 360° Total View Headsets Manufactured
• Total View Proctoring Service Launched
• SaaS Remote Proctoring Platform Launched
• Ethical AI-powered Proctoring
• Customer Acquisition
• Our Next Steps...

Since the close of our first crowdfunding round on StartEngine, Proctor360 has been hard at work. We've made a great deal of progress that we're excited to share with our investors!  

Our latest investor update covers our activities and achievements over the past year, and we invite you all to read about our journey.  We've made a lot of progress, and we're confident you'll be pleased.

Click Here To Read The Update

As we enter this final day of our Online Public Offering, we want to extend a heartfelt thanks to all of the visionary investors-- more than 100 of you-- who have joined us on this journey.  Developing new technology that disrupts a multi-billion dollar industry is no small endeavor, and it requires investors like you who look beyond the ordinary crowdfunding campaigns to a product that solves a real problem in an industry that currently has no solution like it.

Since the start of our campaign, industry analysts have labeled Proctor360 a potential game-changer in the online testing market, and we've received an enthusiastic response from industry players as the wider world has become aware of the tremendous threat cheating on certified exams poses to the integrity of education and online learning.  

Proctor360 has already begun to put the early investment dollars to work as we've moved forward on our initial manufacturing run and finalized our patent filing for this technology.

There is still time to invest today, but this is it.

We've had a very successful campaign, and we're looking forward to the near-term launch of our platform. If you've been following us on StartEngine but you haven't made your investment yet, today is your final opportunity.  Once this offering closes, there may not be another chance for non-accredited investors to share in the success we achieve. 

Once again, thank you.

The entire Proctor360 team, which is growing now as we've begun to build our sales staff, extends our most sincere thanks to all our investors.  Your confidence is a very real validation of the product we're bringing to market and it's potential for massive success!

There are just 2 more days before the final close of our StartEngine campaign, and we are already hard at work with our manufacturers to get the initial production run completed and delivered for QA testing.  By utilizing 3D printing technology, our CTO and product designer, Kranthi Bathula has been able to approach the process of product design improvement in an agile way that is yielding fast results.

"We purposely opened a small initial investment round through StartEngine so that we could launch this product with a group of investors who can benefit from their early vision," commented Kranthi.  "By being agile and using tools like 3D printing, I'm able to quickly modify and continuously improve our 360-degree headset designs so that each successive production run yields an even better product."

With only two days remaining in the campaign, you have a very narrow window of opportunity to join more than 90 investors with the vision to see Proctor360's massive potential.  Once our Title III campaign is closed, there may not be any future opportunities for non-accredited investors.  So, if you've been following our campaign, and you see the progress we've already been making, then the time to invest is now.

On June 19th, Proctor360 presented along with approximately 40 other startups at ITServe Alliance Northeast's investor pitch event, where investors from all over the Greater New York City area attended and judged each startup's pitch.  We're proud to have been awarded the 2nd Place Prize of $1,000 in seed money and the opportunity to introduce our technology and our offering to a new audience of investors.

Every time we talk to tech-savvy investors about the challenges to secure, reliable online testing, the size of the global market, and how we're leveraging 360-degree camera technology, it seems like they just instantly get it.  Our product and service are not "pie in the sky... maybe someday..." ideas.  They're solutions that are immediately useful and effective in a growing multi-billion dollar market that is in desperate need of better, more accurate cheating prevention.  And investors are taking notice!

Our offering is only active for 9 more days, and although we've turned our attention primarily to manufacturing and sales-related functions, we're leaving the campaign open in these final days as we've gained several new followers who may choose to invest before the final closing in just a little more than a week.

Click below to watch some brief highlights from CEO Ganga Bathula's presentation: 

We’re making exciting progress at Proctor360 as we continue to work on bringing our 360-degree testing cam to market.  While manufacturing gets underway for our first production run, we’ve taken further steps in the process of patenting the use of this technology for remote test proctoring.  Our non-provisional patent filing is now complete, clearing the way for the USPTO review process to begin.

What does the patent cover?

Patent applications are typically very dense documents filled with highly technical and specific language, but, basically, our utility patent application covers the use of 360-degree cameras and related technology for the purposes of proctoring exams remotely. 

Why is patenting this use valuable?

The computer-based testing industry is worth $42 billion globally, and the remote/online testing sector needs new solutions to ensure the security and integrity of online test results.  The current methods are just too easy to cheat, and that precludes many important exams from being delivered remotely until new methods are introduced.  As you know from following our company, that’s exactly what our product achieves.  By securing a patent for this inventive use of technology, Proctor360 will be able to control the market for its product and remote testing services in a growing multi-billion-dollar industry.

What happens next?

Now that our non-provisional patent application is filed with the USPTO, it is in queue for the first preliminary review sometime in the next few months.  Once that process is completed, we’ll be given a general “month and year” estimate for formal examination of the application.   The patent application process is a lengthy one, and it could be a couple of years before the patent is finally awarded.  However, the filing date for our invention was established by our provisional patent application last year, which strengthens our claims as the first to use this technology for this purpose. 

Final days to invest

We’ll continue to update you on our progress as we put the investment funds we’ve received into productive use.  We’re moving forward as planned, and we’re delighted that so many of you are going to share in our success as investors.  If you haven’t invested in Proctor360 yet, there are just 2 weeks left before the current offering ends, which may be the only opportunity for non-accredited investors to take part.

Proctor360 is pleased to announce that the first 100 remote testing cam headsets are going into production soon! This is a significant milestone for us as we put our investment dollars to work so that we can bring our valuable technology to the market.  Once we've taken delivery, we will begin a thorough quality assurance process to ensure that our new patent-pending headsets are ready for remote exam use.  We would like to thank all of our early investors for their confidence in us and their vision, and we're happy to share this exciting news with you as we prepare to generate revenue.

Now utilizing 3D printing for agile design modifications

The first hundred units are on the way, and that's a solid start that will allow us to begin accepting customers and demonstrate their effectiveness "in the wild".  But we're not stopping there.  We've begun utilizing 3D printing techniques in-house to continue improving our testing cam design.  This allows us to be agile with our design modifications and ensure that larger future production orders are continuously improved.  This, in turn, will empower us to accelerate growth and reach profitability more quickly.

Proctor360 presents at TiE DC Startup Workshop

On June 1st, Proctor360 was chosen to present at the TiE DC Startup Workshop during their Elevator Pitch segment for startup investors.  This was not only an opportunity to expose Proctor360 to a larger audience of investors but was also a chance to receive valuable feedback from panelists on our concept and our startup strategy.   More than 90 people attended this event, and we received a lot of positive feedback and interest from the startup community and potential investors.  

Things are beginning to happen fast now as we work to put your investment into action, and we're pleased to share these exciting updates with you.  If you've been following our campaign on StartEngine, but you haven't invested yet, the offering is still open for the moment.  You still have an opportunity to join us in our future success.

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, Proctor360 has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Proctor360 be on the lookout for an email that describes more about the disbursement process.

This campaign will continue to accept investments until its indicated closing date.

Thanks for funding the future.

-StartEngine

Proctor360 enjoyed a successful campaign which raised more than $68,000 toward a maximum goal of $107,000!  Our campaign was set to end on April 30th, but on the evening of April 29, StartEngine elected to extend our campaign period at no charge.  While we are turning our attention to the final preparations for our initial manufacturing order and the launch of our online testing platform, our offering will still be available to investors on StartEngine for a limited time. 

If you invested after March 18th, you may need to reconfirm your investment.

Whenever a Title III offering period is extended, anyone who invested after the last disbursement of investment funds must reconfirm their investment.  If you completed your investment later than March 18th, StartEngine will contact you by e-mail to reconfirm.  This is a simple process, but please be watching your inbox for this email from StartEngine.  If you don't reconfirm, your investment will be canceled.

Exciting things are happening at Proctor360

We're extremely gratified by the success of this initial seed funding round, and our investors will be happy to know that George Mason University began a pilot program this month to administer exams for one course with Proctor360 using our pre-production prototypes in order to be the first to try out our technology in the market.  This is a remarkable validation of everything we've been telling you about the need for our product in online testing, and it puts us in an excellent position to begin generating revenue as soon as manufacturing and QA is completed on the first production run of our hardware.

Investors are flocking to E-learning and Online Testing

The month of April saw nearly 200 million dollars raised for e-learning and testing platforms like Coursera and Examity-- two older platforms already in the market.  These were late-stage private investment rounds by major venture capital investment groups, and it shows just how important new E-Learning and online testing technology is to the investing marketplace.  While non-accredited investors don't have access to those investment opportunities, they do have access to this Reg CF offering right now.  If you want to participate in the growth and success of the computer-based testing market, Proctor360's offering is an extraordinary opportunity.

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the Proctor360 offering. Here's an excerpt describing the specifics of the change:

Proctor360 Inc. has extended its campaign and added its 2018 financials.

When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.