Edtech Platform ApplyBoard Announces $300 Mn Investment Round With A Valuation Of $3.2 Bn A significant part of this funding will be utilized to expand its operations and team in India.
By Prabhjeet Bhatla •
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Online edtech platform ApplyBoard that empowers students around the world to access quality education on Wednesday 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 & 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.
"Education has the power to change lives and bring peace to the world, and ApplyBoard is more committed than ever to helping the millions of students who are dreaming of studying abroad," said Martin Basiri, co-founder and chief executive officer, ApplyBoard. "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."
ApplyBoard is committed to providing the best experience to students and partners during their application journey. This will entail having the right support services and products for them. India is at the center of defining and developing ApplyBoard's product strategies. The edtech startup continues to expand its team in India to help support its customers not just in the country but globally.
"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," shared Karunn Kandoi, general manager and head of India operations, ApplyBoard India.
India will see a significant expansion of ApplyBoard's already strong presence in the country. Additionally, they are aiming to continue investing in the expansion of their product offerings to their students and partners and add to their growing brand visibility for India.
Built upon the fundamental belief that education is a right and not a privilege, ApplyBoard is on a mission to educate the world by democratizing access to international educational opportunities. ApplyBoard has grown in six years to be the online market leader in the study abroad industry, helping more than 200,000 students with their application journey, and plan to support millions in the coming years.
ApplyBoard's rapid growth continued this past year, expanding to offer access to international educational programs in the UK, Australia, and the US.
