Edtech startup ApplyBoard bags $70.8M in Series C funding to improve access to education for international students and expand into new markets
ApplyBoard, an Ontario, Canada-based edtech startup and an online platform that empowers international students to discover and apply to institutions in Canada, the USA, and the UK, has closed $70.8 million (C$100 million) in Series C funding to accelerate product development, fuel expansion into new markets, and improve access to education for more international students. The round, which puts the company at a C$2 billion valuation, was led by Drive Capital and joined by certain funds managed by Fidelity Investments Canada ULC, Plug and Play Tech Center, and other investors.
Founded in 2015, ApplyBoard has built partnerships with over 1,200 educational institutions and works with 4,000+ recruitment partners, to drive highly qualified applicants and diversity to campuses across Canada, the United States, and the United Kingdom. To date, the company has assisted more than 100,000 students with their educational journey. The company is headquartered in Kitchener, ON, Canada, with over 400 staff members in 20 countries.
Co-Founders, Martin, Meti, and Massi Basiri started the company as a result of the challenges they endured coming to Canada as international students. Built upon the fundamental belief that education is a right and not a privilege, ApplyBoard is on a mission to educate the world by providing every student with access to educational opportunities.
“Education has the power to change lives, but the process of applying to study abroad remains incredibly difficult for many students,” said Martin Basiri, Co-Founder and CEO of ApplyBoard. “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.”
ApplyBoard streamlines and simplifies the study abroad application process by connecting students, educational institutions, and recruitment partners on its platform. 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.
“We’re thrilled to partner with Martin and his team because we believe ApplyBoard makes the world a better place. They are fundamentally changing the way students across the globe access education,” said Nick Solaro, Partner at Drive Capital.
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.