Verificient Technologies
Verificient Technologies
"Alignkraft is a strategic partner that positioned us to grow at a very rapid pace. Without their valuable insight, we wouldn't be where we are today."
- Rajnish Kumar, Verificient Technologies
THE CHALLENGE
We were challenged to build a brand from the ground up, capture funding and get a stronghold on market share within an emerging and rapidly changing industry.
This education technology start-up came to us ready with a vision, a product and a team - but no name. Alignkraft was brought in very early and created the company's eventual name, Verificient Technologies. From that point on we worked hand in hand with Verificient to develop crucial launch strategies, touching on everything from branding, positioning and messaging to pricing, product offerings and sales.
Following the pace set by the rapidly changing online education industry, we followed an aggressive timeline to launch the Verificient brand and its flagship product Proctortrack with the goal of landing initial investment and to quickly acquire market share while the number of competitors was still low. Having no branding or marketing materials to start with, Alignkraft looked to industry research and analytical data to develop targeted strategies and introduce a new leader to the market.
THE RESEARCH
MARKET RESEARCH ANALYSIS
Online education is a breakout industry, driven by advances in technology. Educational learning management systems have been around for longer, but remote proctoring is a fledgling subindustry. We conducted in-depth research of all other remote proctoring companies on the market and analyzed their product offerings, feature sets, marketing strategies, valuation, leadership and technological reach.
Competitive Analysis: An examination of the feature sets of Proctortrack and other remote proctoring services
Web Analysis
Looking at the handful of remote proctoring software start-ups in existence, Verificient was the clear leader in terms of actual product features and technological achievement. However, the start-up's brand was not fully developed. However, most competitors were similarly positioned with little to no branding or marketing initiatives. In fact one of the competitor's with the least impressive product had put more resources to marketing and had a more developed brand, despite having an inferior product.
Digital Scorecard: Web effectiveness tool
With an in-depth analysis of competitors' brand, website and social media presence, we found a gap between the strength of the actual Proctortrack product and the strength of the Verificient brand.
Looking at quantitive data on the online education industry as a whole, the potential ROI of Higher Education distance learning courses alone to be $9B coming from 900 million possible tests being administered over the course of an academic year.
Seeing an opportunity in this newly emerging industry with high potential ROI coupled with few competitors at the time, we saw the opportunity for Verificient to be an early breakout leader in the industry of remote online proctoring.
With extensive research as a baseline, it became clear how to position Verificient moving forward to make rapid advancements in market share by taking advantage of their technological strength in the face of limited competitors and being at the start of an industry.
THE SOLUTIONS
Seeking an aggressive timeline, Verificient engaged all of Alignkraft's strategic services. Leveraging analysis of both internal and external research, Alignkraft gave life to this start-up and created the Verificient name, logo, corporate identity and website in one month. Next we consulted on UI/UX and application design of Verificient's flagship identity verification product, Proctortrack. Alignkraft crafted intelligent brand strategies driven by data for Verificient to secure investors for funding, reaching out to institutions to use the products and to affect change in the climate of education as a whole.
With design and production spearheaded by Alignkraft's sister company, SCG Creative, we developed a logo, corporate identity system, website, product demo videos, print advertisements, social media, email marketing campaigns, trade show collateral and investor presentations which rocketed Verificient well past competitors' weak brands.
THE RESULTS
Valuation and funding of Verificient Technologies. Horizontal axis = months. Vertical axis = $ in millions
In a record time of 6 months, Verificient Technologies elevated their funding, valuation and brand with research, consulting and design services from Alignkraft.
With Alignkraft quickly yet strategically crafting the Verificient brand through targeted messaging, marketing and positioning, the technology start-up earned a much coveted spot in the esteemed Kaplan TechStars EdTech Incubator. Armed with smart presentation materials developed by Alignkraft to bring to investors, Verificient raised $1.9M in an initial seed round, pushing their valuation to $13.5 million. Verificient landed strategic partnership with Canvas, the leading learning management system and signed on new clients such as St. George's University, Rutgers and Georgiatech.
Alignkraft continues to craft and produce targeted marketing campaigns, tradeshow presentations and industry research for Verificient Technologies. We also consult on each new product offering, service expansion and business strategy as the company continues to grow at an accelerated pace. Alignkraft has built 4 new subsidiary brands for Verificient Technologies in the last year.
Are you the founder of a start-up and finding your brand can't keep up with how fast you are growing? Alignkraft has the vision to shape success of success.
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