Hello Everyone!
This is our first major update of 2022, and we have a lot to share. We've been hard at work on a variety of fronts, all aimed at building the future of assessment delivery and proctoring for modern schools and students. Feel free to reach out to me at anytime or simply schedule a meeting with me using this link. Here's a summary of what we've been up to:
Q4 2021
We're proud to announce that in Q4 of '21, we successfully deployed our pilot with Coursera and got a great response from students. We got 4.8/5 overall student satisfaction rating, which is awesome! Learning from these pilots helped us create a strong proctoring organization in Q1 & Q2.
In addition to this success, we've improved our ability to deliver on what matters most: providing our customers with the best possible service. In Q4, we focused on improving the way we handle communications with clients and partners by improving our financial systems and proctoring organization. This allowed us to recover $100,000 in owed deposits during this time period alone!
Q1 2022
Having filled key team positions in Q1 and quickly iterated on the product, we have achieved the first milestone of our cost down targets required for massively deploying in partnership with Coursera at a rate that the international market can now afford.
Q2 2022
On May 10th, we signed our first commercial agreement with Dominican University. Since then, we've rolled out testing for their Nursing School, and it's been a very successful launch and positive initial feedback from school representatives.
On May 22nd, we signed another commercial agreement with Nexford University. With the help of GSV Conference contacts from April, we met with Nexford and quickly moved towards a deal and implementation. Nexford felt we were the only platform partner option for them due to our low-latency internet product feature as 60% of their students struggle with internet insecurity.
Also on May 27th, we launched 24/7 live proctoring with chatbot support & no scheduling needed (so convenient!). This allows us to provide remote proctoring services even more quickly than before.
And finally on June 1st, 75% of the team agreed to summer breaks to help reduce costs given market conditions—but that didn't stop us from signing our first embedded partnership agreement with Certiverse on June 30th!
Q3 2023
In July, we launched our product integration with Certiverse. With this partnership, companies like Stripe, F5 networks, and Adobe (soon) will all launch their certification program with Rosalyn + Certiverse platforms. We have more mature APIs, and better integration capabilities that will allow us to build similar integrations continuously faster. We will be building similar partnerships with assessment platforms, corporate LMS platforms and more.
My conversation with Valid questions Vodcast below:
We completed a full 60-day course with Nexford University and delivered our first round of entrance exams with Dominican University. The process was described as “seamless” and the overall implementation was considered a “big success.”
In July we also signed Missouri Baptist University and Rochester university in August. They will both be using Rosalyn for their fall semesters.
We are very close to implementing the breakthroughs we have achieved in technology that will allow us to cut COGS from $2 per test hour to $0.30, allowing us to offer $7 per test for high stake exams in certification, and $3 for higher education, compared to $7-$30 current market prices.
Rosalyn’s entire student experience exceeds the highest accessibility standards (WCAG 2.1 AA), and we now have a VPAT.
In addition to GDPR and BIPA compliance, we have achieved compliance with one of the most strict privacy regulations by replacing all our models that required processing biometrics, enabling us to become biometric free.
There has been significant learnings from our initial customers that allowed us to quickly iterate and vastly improve the product further strengthening our product market fit.
Our focus over the last two months have been building a GTM machine. We have updated our website, built marketing videos, improved the sales process, implemented analytics and launched experiments with online channels in addition to our outbound efforts.
We are excited to announce that we are working to extend our bridge in order to build a foundation for a strong series A round. If you are interested in investing, feel free to reach out to me via email: noor@rosalyn.ai, or schedule a meeting using this link