#FundingAlert: Edtech platform ApplyBoard raises $300 mn; to expand operations in India

FPJ Web DeskUpdated: Wednesday, June 16, 2021, 03:02 PM IST
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Online edtech platform ApplyBoard today announced it has raised $300 million in Series D funding at a post-money valuation of $3.2 billion. A significant part of this funding will be utilized to expand its operations and team in India.

The round was led by Ontario Teachers’ Pension Plan Board (Ontario Teachers’), through its Teachers’ Innovation Platform (TIP). TIP focuses on late-stage venture and growth equity investments in companies developing innovative technologies. Existing investors Fidelity Management and Research Company LLC, BDC, Harmonic, Index Ventures, Garage Capital, and Blue Cloud Ventures also participated in the round. Since its founding, ApplyBoard has raised $475 million.

Martin Basiri, Co-founder and CEO, ApplyBoard, said, “With limited international travel over the past year, we are seeing pent-up demand from students looking to study abroad. We are excited for what this new investment will allow us to accomplish to help our students, partner institutions, and recruitment partners, so that our industry can build back better in a post-COVID world.”

“We are excited by the opportunities this funding will provide as a significant part of this funding will help us further step up the product and business growth in India and support students wishing to study abroad along their journey," said Karunn Kandoi, General Manager and Head of India Operations at ApplyBoard India.

ApplyBoard is on a mission to educate the world by democratizing access to international educational opportunities. It has expanded its offer to access to international educational programs in the UK, Australia, and the US and doubling the number of global team members to more than 1,000. ApplyBoard has also added new products and services over the past year, including ApplyProof, which enables stakeholders in the student journey (including admissions officers and immigration officials) to trust the authenticity of documents, such as English test scores, letters of acceptance, and more.

Founded in 2015 by brothers Martin, Meti, and Massi Basiri, international students who came from Iran to Canada for their education, decided to start ApplyBoard after seeing and experiencing the challenges of the application process.

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