Canadian edtech unicorn ApplyBoard to 'step up' growth in India, raises $300 million in external investment

Edtech platform ApplyBoard on Wednesday announced it has raised $300 million in Series D funding at a post-money valuation of $3.2 billion.

The company said that a significant part of new funding will be utilised to expand its operations and team in India.

The round was led by Ontario Teachers' Pension Plan Board, through its Teachers' Innovation Platform (TIP).

Since its founding, ApplyBoard has raised $475 million.

"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," said Martin Basiri, Co-founder and CEO, ApplyBoard.

The company said that India is at the centre of defining and developing ApplyBoard's product strategies.

India will see a significant expansion of ApplyBoard's already strong presence in the country.

Additionally, the company said it is 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.

"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, GM and Head of India Operations at ApplyBoard India.

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