Altus Assessments secured C$3 million in debt financing from BMO Technology & Innovation Banking Group. Based in Toronto, Altus Assessments is a provider of an online test for academic admissions.
Toronto, ON, March 5, 2020 — Altus Assessments Inc., a Toronto-based company that empowers the admissions teams of higher education institutions to look beyond book smarts to create and nurture exceptional professionals, announced today that it has closed $3 million in debt financing from BMO Technology & Innovation Banking Group to support future growth initiatives.
Since 2014, Altus Assessments has been a Canadian leader in helping higher education institutions holistically assess applicants and does this primarily through their product CASPer, an online situational judgement test (SJT) used by over 250 academic partners to evaluate candidates for traits like communication, ethics, professionalism, and judgment. CASPer is being used to screen over 100,000 applicants to academic programs annually, covering 80% of US and Canadian medical school applicants.
Altus Assessments was recently recognized as part of the Globe and Mail Canada’s Top Growing Companies (2019) and Deloitte’s Technology Fast 50™ Companies to Watch (2019).
“Altus Assessments has been successful in filling a need in academic admissions assessments and only has room to grow,” said Devon Dayton, Managing Director, BMO Technology & Innovation Banking Group. “The momentum of the organization is driven, largely, by the strength of both the leadership and entire team, and we are excited to be working alongside Altus Assessments and are eager to support them as they accelerate their growth.”
CASPer provides unique insights based on evidence-based research from over 15 years of psychometric outcomes. Altus Assessments also hosts the annual Admissions Summit, a 2-day conference designed for the admissions community to ignite discussion through workshops and networking. Altus Assessments also powers the Alo Grant, an annual $100,000 research grant built to promote and accelerate the creation of new research that will strengthen the field of admissions.
“We’re thrilled that BMO has recognized our exciting mission: to create a world served by exceptional professionals,” says Rich Enrich, CEO of Altus Assessments. “This mantra has guided us since Day One, from our early developments at McMaster University, to where we are today. This funding will help fuel Altus Assessment’s growth into new markets and verticals, further igniting our mission to create a world served by exceptional professionals.”
To learn more about Altus Assessments, visit: https://altusassessments.com/.
About Altus Assessments
At Altus Assessments, we empower decision-making about future professionals based on proprietary research and data-driven insights. Our product, CASPer, helps higher education admissions departments look beyond book smarts, seeing a clearer, more holistic view of applicants. The CASPer test is taken by 100,000+ applicants annually, including 80% of all US and Canadian medical school applicants. We also host the Admissions Summit, an annual 2-day conference, and power the Alo Grant, an annual $100,000 research fund. Working with over 250 academic partners, Altus is preparing tomorrow’s professionals. Learn more at altus.as or follow us at twitter.com/altusinc.