Remember the Instagram memes where students were shown saddened as they would have to appear for exams offline. Online examination, while were a blessing during the on-going pandemic, it had its own set of challenges. In an effort to break those loopholes, the industry has seen the entry of many online assessment platforms. Acquired by Mercer in 2018, Mettl is a tech-driven skill assessment platform has claimed to have witnessed a growth during the post-pandemic. “The educational institutions are willing to continue investing in technology not only to ensure the ability to teach online but also to conduct exams online as it gives clarity and authenticity. Covid has accelerated the adoption of technology in almost all industries,” Siddhartha Gupta, CEO, Mercer|Mettl, told FE Education. The company claims to have a tie-up with more than 450 institutions, however the total number of active institution continue to change, depending on the tenure of the contract.
Accessing to the regulatory filing, business intelligence platform Tofler shows that during FY21 the revenue from operation of the company on a standalone basis increased 38.61% to Rs. 139.25 crore in FY21 from Rs 100.46 crore when compared with same period in previous financial year. While its net profit rose 326% to Rs. 17.30 crore in FY21, from Rs. 4.06 crore in FY20. The company claims to have colcked a 35% year-on-year over last three financial years. As for its revenue growth the company claims to have had a target of 46% year-on-year between FY21-FY25.
The company also claims to have plans to expand its team from nearly 500 to over 800 staffers, targeting institutional investors globally.
A recent survey by exam board Pearson Edexcel revealed that of 1,100 teachers, 51% are likely use onscreen assessment at present, if it would be available in their subject area. However, 77% said they would welcome more technology to be used in teaching and exams. The company claims to have established a dataset of question banks which it offers to universities and institutions. According to Gupta, the company monitise on business-to-business (B2B) business model with ‘price per assessment’ mechanism, where universities tie up with Mettl under a cost of the total number of assessments to be conducted through the platform. As a price point, the company claims to provide these services at a cost ranging from Rs 150-400 per assessment depending upon the requirements from the institutions. The company claims to have conducted 3.5 million assessments in 2020, which increased to 6.1 million in 2021. “This also reduces the cost of the examination as institutions need not spend on multiple infrastructure to conduct the assessment,” Gupta said.
As institutes looks standardise examination processes which will be blended one, where in students will be give a chance to opt between offline and online mode, online proctoring exam (OPE) platforms are striving to win the battle using the new age technologies. “Off all the students who have apparent for an online test, with the help of artificial intelligence, only few are marked under unfair means of writing the paper. Only those few students are further examined by a committee. Therefore it reduces time and effort,” Gupta said. Industry players believe there is a probability in future exams are held through these platforms in an effort to save cost of logistics and ease of operational and administrative set up.