EduTech Firm ApplyBoard Raises $70.4 Million USD; Eyes New Markets and Product Innovations
Popular education technology (EduTech) company ApplyBoard has announced raising Series C funding, closing $100 million CAD. The funding takes its total evaluation to $2 Billion CAD. Drive Capita led the latest funding, joined by existing investors including, Anthos Capital, Artiman Ventures, Garage Capital, and Plug and Play Tech Center.
ApplyBoard is planning to use the new money in accelerating Product DevOps, build new Marketing strategies to grow into unexplored territories, and improve overall access to automated education tools for international students.
Launched in 2015, ApplyBoard solves traditional challenges endured by overseas students coming to Canada. By its own admission, ApplyBoard is driven by mission “to educate the world by providing every student with access to educational opportunities.”
At the time of this announcement, Martin Basiri, Co-Founder and CEO of ApplyBoard said –
“Education has the power to change lives, but the process of applying to study abroad remains incredibly difficult for many students. My brothers and I founded ApplyBoard to ensure that every student has the ability to access education. Accelerated by recent events, it’s vital we fuel innovation that supports the future success of the education sector. We are committed to advancing our work with students, educational institutions, and recruitment partners to improve lives through education.”
Currently, ApplyBoard streamlines and simplifies the study abroad application process by connecting students, educational institutions, and recruitment partners on its platform.
Here’s a quick preview of how the product works.
Through its innovative technology, students are enabled to easily discover and apply to study at the best secondary and post-secondary educational institutions in Canada, the United States, and the United Kingdom using a single application. By joining the platform, educational institutions benefit from expanding their brand reach worldwide and enriching on-campus diversity by recruiting qualified students virtually.
With this round of funding, ApplyBoard plans to invest in its technology, partner with educational institutions in new destination countries, and serve a broader diversity of students and recruitment partners globally. ApplyBoard—recognized by Deloitte in 2019 as Canada’s fastest-growing tech company—works with over 1,200 educational institutions and 4,000 recruitment partners. To date, the company has assisted over 100,000 students with their educational journey.