It’s been a heady six weeks for ApplyBoard. A new Kitchener office. A recent visit from the federal Minister of Immigration, Refugees and Citizenship, Ahmed Hussen. Plenty of hiring and growth. And now a CDN$55 million Series B raise.
ApplyBoard, the one-stop startup for international students seeking admission to schools across North America, announced the new funding, led by California-based Anthos Capital, less than a year since closing a US$13 Series A round late last June.
The company, which now has more than 170 employees, said the new capital would allow it to accelerate its expansion into new markets and hire an additional 100 employees for its Kitchener and international offices.
“At ApplyBoard, we believe education is a right, not a privilege,” said Martin Basiri, ApplyBoard’s co-founder and CEO. “Everything we do revolves around putting students first.
“Our dedication to making a difference in students' lives is evident by the tremendous growth we’ve experienced in the past four years. I am incredibly proud of what our team has accomplished and look forward
to continuing our momentum with this new investment.”
Basiri, who is from Iran, founded ApplyBoard after encountering challenges when he applied for post-secondary education.
The company says its structured vetting system gives students a 95 per cent chance of receiving an offer letter to the program of their choice. More than 45,000 international students from more than 100 countries have made use of the platform to assist their application process.
Last month, Hussen said that international students contribute $15.5 billion annually to the Canadian economy, more than the softwood lumber industry.
