ApplyBoard has closed a CDN $100 million Series C round of financing at a $2 billion valuation. Drive Capital led the financing and was joined by certain funds managed by Fidelity Investments Canada ULC, BDC Capital, and existing investors including Anthos Capital, Artiman Ventures, Garage Capital, and Plug and Play Tech Center.
The new financing follows ApplyBoard’s $55 million Series B led by Anthos Capital which closed in May 2019.
Founded by brothers, Martin, Meti, and Massi Basiri, ApplyBoard is an online platform that empowers students around the world to access the best education. 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.
Kitchener, Ontario based 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.
photo credit: ApplyBoard
News Release
ApplyBoard Raises C$100M in Series C Funding
The investment will accelerate product development, fuel expansion into new markets, and improve access to education for more international students
Kitchener, ON, May 5, 2020 – ApplyBoard, the online platform that transforms how students access international education opportunities, today closed C$100M in Series C funding. This historic round of funding was led by Drive Capital and joined by certain funds managed by Fidelity Investments Canada ULC, Business Development Bank of Canada, and existing investors including Anthos Capital, Artiman Ventures, Garage Capital, Plug and Play Tech Center, and Candou Ventures.
ApplyBoard’s Co-Founders, Martin, Meti, and Massi Basiri, launched the company in 2015 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.” — Nick Solaro, Partner, 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 journeys.
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About ApplyBoard
ApplyBoard is an online platform that empowers students around the world to access the best education. 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 journeys. The company is headquartered in Kitchener, ON, Canada, with over 400 staff members in 20 countries.
About Drive Capital
Drive Capital is a Columbus-based venture capital firm that is focused on investing in the world’s next generation of market-defining companies. The firm started in 2013 and raised over $1B of funds to invest in startups solving problems in large markets. Drive is an investor in more than 40 companies outside of Silicon Valley, including Root Insurance, Duolingo, and KOHO.
Media Contact
Alicia Bedard, Director of Marketing, ApplyBoard
P: +1-226-972-4376
E: press@applyboard.com