Prometric LLC Acquires Finetune®
Combination adds cutting-edge technology that transforms the way assessment and learning content is created, classified, and delivered
BALTIMORE, Aug. 4, 2022 /CNW/ -- Prometric announced today that it has completed the acquisition of Finetune, a leading innovator in AI-assisted assessment and learning technology across the credentialing, licensure, workforce readiness and education sectors.
Finetune, based in Boston with a pre-pandemic globally distributed team, has been developing innovative solutions in learning, instruction, and assessment for more than a decade. They expanded in recent years into proprietary AI-assisted technology targeting the growing demand among organizations and companies for the ability to create high-quality assessment and other learning content with greater time- and cost-efficiency than traditional approaches. Finetune's flagship products, Generate™ and Catalog™, are the world's first commercially available products to use state-of-the-art Natural Language Processing (NLP) transformer models to power AI-driven content generation and classification, increasing the productivity and creativity of item-authoring and classification, in tandem with subject matter experts, while greatly improving quality.
Roy Simrell, President and CEO of Prometric LLC, said, "The addition of Finetune to Prometric's portfolio represents a significant opportunity to not only bring cutting-edge AI content and assessment technology to our suite of solutions but to transform the way organizations address the challenges they face in a rapidly changing earning landscape. I am excited by the opportunity that these advanced capabilities represent for the way we support our customers and test takers."
Steve Shapiro, CEO of Finetune, said, "We are energized by the synergy that a partnership with Prometric represents. Joining Prometric allows us to further build on our success, taking these solutions to market at scale and continuing to invest in emerging technologies that serve the wide cross section of markets we serve."
About Prometric LLC
Prometric is a leading provider of technology-enabled testing and assessment solutions. Our integrated, end-to-end solutions provide exam development, management, and distribution that set the industry standard in quality, security, and service excellence. Today, we are paving the industry's path forward with new solutions and innovation to ensure reliable access to secure assessments anytime, anywhere. For more information, visit Prometric or follow us on Twitter at @PrometricGlobal and www.linkedin.com/company/prometric/.
Finetune is a leading innovator in the education sector, specializing in the development of hybrid AI-human-solutions that address some of the most challenging problems including automated content generation and AI-powered learning-resource classification. For more information, please visit Finetune - Creating AI-Human hybrid solutions for learning (finetunelearning.com).
Tyton Partners served as the exclusive financial adviser to Finetune.
Brooke Smith, SVP and CMO
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