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Ontario, Canada-based online edtech platform ApplyBoard has raised $300 million in Series D funding at a post-money valuation of $3.2 billion, a major part of which will be used to expand its Indian operations.
The round was led by Ontario Teachers’ Pension Plan Board, through its Teachers’ Innovation Platform, which 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. With limited international travel over the past year, we are seeing pent-up demand from students looking to study abroad,” said Martin Basiri, Co-founder and CEO of ApplyBoard.
“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, General Manager and Head of India Operations at ApplyBoard India.
ApplyBoard was founded in 2015 by brothers Martin, Meti and Massi Basiri, international students who came from Iran to Canada for their education.
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