Waterloo-based ApplyBoard, creators of an AI-enabled recruitment platform that helps international students apply to post-secondary programs in North America, has announced $55 million in Series B funding. This comes just one year after the company raised $17 million in Series A.
This new investment will help the fast-growing company further develop its platform and accelerate expansion into new markets. They also plan to hire more than 100 new employees in their Waterloo and international offices.ApplyBoard launched with a mandate to make education accessible to students around the world. This mandate stems from the challenges the company’s three co-founders faced as Iranian students pursuing post-secondary education in North America. Their platform now assists students with program and institution selection, document submission, application and obtaining a visa. International academic applications were clearly an untapped market – since the company’s founding in 2015 it has built partnerships with more than 1,200 secondary and post-secondary institutions across North America and they’ve already helped more than 45,000 students.
“At ApplyBoard, we believe education is a right, not a privilege. Everything we do revolves around putting students first,” said Martin Basiri, Co-Founder and CEO of ApplyBoard, in the company’s press release. “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.”
ApplyBoard is just the latest scaling success story in Waterloo. Just a few months ago, five local companies were included on a list of Canada’s highest-potential tech firms, and companies like North and eSentire have announced significant new raises. Waterloo was also recently recognized as the best place in Canada to start a tech company and CBRE called our unique mix of tech talent quality and cost “exceptional.”
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