16 Sep 2020
ApplyBoard Raises $ 70 Million, Partners with New Jersey Education Technology Company to Facilitate School Applications
School apps startup ApplyBoard Inc. continues its ascent as one of Waterloo Region’s fastest growing companies over the past decade, announcing $ 70 million in new capital funding on Wednesday. risk.
It comes after ApplyBoard revealed a $ 100 million growth finance investment just four months ago, which the company said put it worth $ 2 billion.
Investors in the new round of funding include New Jersey educational technology firm Educational Testing Service and European and US venture capital firms Index Ventures, Blue Cloud Ventures and Harmonic Growth Partners. Its total at-risk funding now stands at $ 242 million.
ApplyBoard was founded in 2015 by three brothers from Iran who came to study in the Waterloo region and sought to make the post-secondary application process easier for international students.
The Kitchener, Ontario-based company has since developed a standardized platform that matches the supply of spaces for international students at over 1,200 schools across North America and Britain with student demand. international. By allowing students to apply to multiple schools at once, the company claims that its proprietary scan tool helps find the best match for their credentials.
ApplyBoard will also partner with Educational Testing Services, which administers language proficiency and graduate admission tests, to further streamline school application processes, the companies said in a press release Wednesday.
The growth of ApplyBoard has continued even as many schools have switched to digital or mixed digital-physical classes during the pandemic, as students and schools adjust to the new reality from a distance.
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