Certification platform Certiverse has announced the successful acquisition of $11 million in a Series A funding round led by Cherryrock Capital. The company, which was founded in 2023 by Ruben Garcia, Pablo Meyer, and Federico Lopez, enables organizations to develop certification exams at significantly lower costs compared to traditional methods, according to its founders.
Certifications serve as a long-established method for individuals to acquire technical skills that enhance their career prospects and demonstrate mastery in specific subjects. Certiverse collaborates with a range of companies, including the technology nonprofit The Linux Foundation and the software company HashiCorp.
Ruben Garcia, the CEO, has previous experience in the certification industry, having co-founded and later sold Innovative Exams, a company that provided exam delivery services. Garcia remarked that obtaining certifications can be transformative for leaders and professionals, yet developing certification programs and exams can cost a company up to $150,000. However, he noted that Certiverse clients have been able to develop up to ten exams within a year on their platform for less than $10,000 per exam.
Garcia noted that creating an exam with legacy providers, such as Pearson, Vue, and Prometric, typically takes about a year. He emphasized that Certiverse’s business model is aligned with its clients’ interests, as the company generates most of its revenue after the exams are launched and taken by professionals.
Starting their fundraising efforts in early January, the company pitched to around 50 firms over 45 days. Garcia characterized his fundraising approach as “focused,” aiming to quickly find the right investors who share the company’s vision and can aid its growth. He connected with the Cherryrock team through an existing investor. Additional participants in the funding round included Chingona Ventures, Hyde Park Venture Partners, and Zeal Capital Partners. To date, Certiverse has raised a little over $16 million.
The newly acquired funds will be directed toward enhancing the platform’s automation capabilities, facilitating easier exam creation. Garcia stated that the company’s objective is to focus on scaling and expanding the platform to launch 1,000 new clients and partners on Certiverse.
