# ApplyBoard

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/applyboard

- Industry: Internet
- Headquarters: Kitchener, Canada
- Website: www.applyboard.com/
- Total disclosed funding: $486M
- Latest round: Series D (Jun 10, 2021)
- Investors on record: 17

## About

Based in Canada, ApplyBoard Inc. streamlines the study abroad application process, connecting international students with educational institutions across the globe to facilitate their educational journeys.ApplyBoard Inc. was founded in 2015 in Kitchener, Canada, by siblings Martin, Massi, and Meti Basiri, with Meti Basiri currently serving as the CEO. The company has successfully completed 9 deals, with its most recent funding round occurring on October 18, 2024, resulting in a total capital raise of CAD 100 million. The company primarily serves as an intermediary in the education application process, leveraging its platform to assist students in connecting with over 1,500 institutions worldwide.ApplyBoard's core offering is its comprehensive study abroad application platform designed to facilitate the international education journey for students. This platform provides a streamlined process for students to explore, apply to, and enroll in over 140,000 study programs across 1,500 institutions worldwide. By utilizing an AI-guided search, the platform tailors suggestions to individual student needs based on their educational goals, thereby enhancing the user experience. ApplyBoard targets a diverse clientele, serving over 1.3 million students from more than 150 countries, including prominent markets such as Canada, the United States, the United Kingdom, Australia, Germany, and Ireland. The end users of ApplyBoard's services are prospective international students seeking assistance in navigating the complexities of applying to foreign institutions, ensuring a smoother transition into their academic pursuits abroad.ApplyBoard generates revenue primarily through a model that includes partnerships with educational institutions, where it serves as an intermediary in the application process. This involves a fee structure based on successful student placements, wherein institutions may pay a commission for each student enrolled through the platform. ApplyBoard's emphasis on providing a high acceptance rate further enhances its value proposition to both students and partner institutions. Additionally, the platform may offer supplementary services, such as visa assistance and language test preparation, which contribute to its overall revenue stream. The specific pricing structure for these services is not publicly disclosed, but the company's business model effectively supports transaction flows between students and educational institutions in a B2B context, facilitating mutually beneficial outcomes for all parties involved.On October 18, 2024, ApplyBoard secured CAD 100 million in venture funding from new investor RBCx, which will be utilized to accelerate its global expansion. The company plans to enhance its platform with upcoming new products that will further streamline the application process for students. Additionally, ApplyBoard aims to expand its services into new markets, focusing on regions such as Asia and South America, with specific plans to establish partnerships in these areas by 2025.

## Funding rounds

- Series D, Jun 10, 2021, $308M — Index Ventures, Ontario Teachers' Pension Plan, Fidelity Investments, Business Development Bank of Canada, Blue Cloud Ventures, Garage Capital, Harmonic Growth Partners
- Series C, Sep 16, 2020, $53M — Index Ventures, Blue Cloud Ventures, Educational Testing Service, Harmonic Growth Partners
- Series C, May 4, 2020, $71M — Artiman Ventures, Anthos Capital, Business Development Bank of Canada, Drive Capital, Garage Capital, Fidelity Investments Canada ULC, Candou Ventures, Plug and Play
- Series B, May 27, 2019, $41M — Artiman Ventures, Anthos Capital
- Series A, Jun 28, 2018, $13M — Artiman Ventures, 500 Global, Think + Ventures, Candou Ventures
- Seed, Oct 31, 2015 — Next Sparc

## Investors

- Next Sparc (https://capitalatlas.ai/funds/next-sparc) — Seed
- Artiman Ventures (https://capitalatlas.ai/funds/artiman-ventures) — Series A, Series B, Series C
- 500 Global (https://capitalatlas.ai/funds/500-global) — Series A
- Think + Ventures (https://capitalatlas.ai/funds/think-ventures) — Series A
- Candou Ventures (https://capitalatlas.ai/funds/candou-ventures) — Series A, Series C
- Anthos Capital (https://capitalatlas.ai/funds/anthos-capital) — Series B, Series C
- Business Development Bank of Canada — Series C, Series D
- Drive Capital (https://capitalatlas.ai/funds/drive-capital) — Series C
- Garage Capital (https://capitalatlas.ai/funds/garage-capital) — Series C, Series D
- Fidelity Investments Canada ULC — Series C
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Series C
- Index Ventures (https://capitalatlas.ai/funds/index-ventures) — Series C, Series D
- Blue Cloud Ventures (https://capitalatlas.ai/funds/blue-cloud-ventures) — Series C, Series D
- Educational Testing Service — Series C
- Harmonic Growth Partners (https://capitalatlas.ai/funds/harmonic-growth-partners) — Series C, Series D
- Ontario Teachers' Pension Plan — Series D
- Fidelity Investments (https://capitalatlas.ai/funds/fidelity-investments) — Series D