March 13, 2012
“In terms of geographic growth, Asia is an exciting area for us – places like India are popular with the outsourced industry, so the need to provide assessments to demonstrate skills is particularly important.
“There is also a real appetite for learning in a lot of these environments and things like health and safety are gaining in importance – there are real opportunities for us.”
Ian Wilson, investment manager with IP Group Plc. in Newcastle, said: “The Test Factory has already established a global reputation in its sector and we are pleased to be able to support that further with this investment. It is a real asset to the North East that businesses such as this are based here.
“Its client portfolio and rapid organic growth are testament to how strong The Test Factory and its products are, and the business is certainly well placed to capitalise on future opportunities for growth.”
The Test Factory is expanding following a significant investment from the Finance for Business North East Technology Fund
The investment will aid The Test Factory in enhancing its product portfolio, with the hope of enabling the firm to take advantage of opportunities in key growth areas including Asia and Australasia.
The Test Factory specialises in creating bespoke, secure online assessments for a number of high-profile clients including Microsoft, HSBC and the BBC. From its Durham base, The Test Factory now delivers online tests in more than 20 languages to users in over 150 countries each month.
Kevin Beales, managing director and founder of the Test Factory is confident that the investment will help the firm to accelerate growth and propel the business to the next level. Commenting on the investment, he said:
“We have positioned the business at the forefront of a relatively niche but fast-growing market and are in a position to look at the next phase of our development. As well as this, we are able to drive forward with bringing out an increased range of assessment products.