ApplyBoard bags $40.92 million in Series B to develop its AI platform and market expansion to make education accessible to students around the world
ApplyBoard, an edtech startup and the world’s largest platform for international students to apply to study at the best educational institutions in North America, has raised $40.92 million (C$55 million) in Series B funding. Anthos Capital, a California-based investment firm that invests in leading growth-stage companies at the forefront of change, led the round with participation from existing investors including Artiman Ventures. To date, ApplyBoard has raised C$72 million in total funding.
ApplyBoard will use the fresh capital infusion to further develop its AI-powered platform and accelerate expansion into new markets, advancing the company’s mission of making education accessible to students around the world. To support this growth, ApplyBoard will hire over 100 employees for its Kitchener headquarters and international offices over the next year.
Founded in 2015 by Martin Basiri and Meti Basiri, ApplyBoard is a SaaS-enabled marketplace uniquely designed for international students to apply to study at the best institutions of higher education globally. Since inception in 2015, ApplyBoard has revolutionized the way students experience the application process. Based in Canada’s tech hub, Waterloo region, and with offices across various countries including China, Nepal, Vietnam and India, the platform also acts as a secure space for students to keep the required documents to make the process as seamless as possible.
“At ApplyBoard, we believe education is a right, not a privilege. Everything we do revolves around putting students first,” said Martin Basiri, Co-Founder and CEO of ApplyBoard. “Our dedication to making a difference in students’ lives is evident by the tremendous growth we’ve experienced in the past four years. I am incredibly proud of what our team has accomplished and look forward to continuing our momentum with this new investment.”
ApplyBoard launched as a result of the challenges the co-founders faced as Iranian students pursuing post-secondary education in North America. The proprietary platform uses AI and machine learning to assist students with program and institution selection, document submission, application, and obtaining a visa. ApplyBoard carefully reviews and processes each application, sending only those which are complete and qualified to its partner schools. As a result of its structured vetting system, students have a 95 percent chance of receiving an offer letter to the program of their choice.
“ApplyBoard has revolutionized the application process for international education,” said Paul Farr, Managing Director of Anthos. “Thousands of global students have obtained a quality education, and high schools, colleges, and universities are benefiting from a diverse applicant pool as a result of ApplyBoard’s innovative platform. We are proud to partner with a company that’s making a profound positive impact.”
Demand for international education continues to accelerate at an unprecedented pace. In 2017, 4.6 million students pursued education abroad, with many selecting institutions in North America. Since launching in 2015, ApplyBoard has built partnerships with over 1,200 major secondary and post-secondary institutions across North America and is the market leader in recruiting students to Canada. More than 45,000 international students across 100+ countries have utilized the platform to assist in their application process.