South African edtech company, The Invigilator, has secured over R195m in international equity investment to support its global expansion strategy.
The Invigilator team and Kaltroco team | image supplied
The newly secured funding will be used to enhance the platform’s AI-powered capabilities, support multilingual functionality, expand operational teams in key global markets, and strengthen partnerships with educational institutions and corporate clients in North America, Europe, Asia, and the Middle East.
CEO and co-founder
The Invigilator CEO and co-founder Nicholas Riemer says, “This transaction is testament to the hard work put in by The Invigilator team over the last five and a half years.
We always knew we were building something special, and the fact that South African technology is creating Global awareness is fantastic to see.
This investment gives us the ability to ramp up AI development even more, allowing greater access to education while maintaining assessment credibility.
The creation of our live AI monitoring technology means The Invigilator is moving to constant assessment monitoring through first-of-its-kind AI models, while keeping the solution data light and inclusive.
This technology, as well as our strong team of developers, gives us a great foundation to disrupt the Global proctoring market.
Kaltroco
The substantial investment is led by Kaltroco – a private investment company with headquarters in Jersey, Channel Islands and investment professionals in Nashville, Zurich, and Cape Town.
Kaltroco partners with founders and management teams to pursue ambitious growth objectives. As a single family-backed investment company with no outside investors and no restrictions on structure or hold period. Since its founding, Kaltroco has invested in over 30 companies globally across numerous sectors.
“The Invigilator fits our investment thesis perfectly; sound business model, attractive growth opportunities, an exceptional team with a real passion for the mission and a disruptive technology that drives positive impact in a key sector.
“Their proprietary technology makes quality education more accessible and inclusive, whilst also freeing up our customers from physical infrastructure restrictions,” says Cornou Rykaart, principal at Kaltroco.
