Many Indian startups have entered the Unicorn club this year. The investors had their eyes on the working and the operations of the startups. And nowadays, many foreign startups are finding their ways to enter the Indian market, since the Indian economy is booming and developing and investors find the Indian market attractive since it is full of opportunities and new options. The Indian market is full of attractive new chances and risks for investors to take.
The latest news which came as of June 16, 2021, is the Canada-based ed-tech startup ApplyBoard has raised USD 300 million in a funding round. This round of funding was the Series D funding round and was led by Ontario Teachers Pension Plan Board via its Teachers Innovation Platform (TIP). The other participants of the round were the existing investors of the company- Fidelity Management and Research Company, LLC, BDC, Index ventures, Garage Capital, and Blue Cloud Ventures.
After this round of funding, the total funds raised by the company have come to USD 475 million. This round of funding increased the value of the company to USD 3.2 billion. The startup aims to use the funding raised to increase and expand its operations and teams in India. The country India has proved itself to be a valuable market for the startup, which can be seen by the company’s solid presence in the country and India will witness more expansion of ApplyBoard post this round of funding.
Founded in 2015 by brothers Martin, Meti, and Massi Basiri. With its headquarters in Kitchener, Canada, ApplyBoard is on a mission to educate the world. The startup is engaged in collecting international students and recruitment partners for educational opportunities at institutions across the world. The company is useful for the students, the partner schools, and the recruitment partners, as the students can get matched and they can then apply to programs and schools that match their background, skills, and interests.
For the partner schools, such schools can expand and diversify their campus by inviting and attracting students of different nationalities, different backgrounds, different cultures. By doing this, the schools will have diversity and inclusion belonging to the whole world. For the recruitment partners, the school campuses will be able to give students the benefit and option of accessing more than 1500 educational experiences which will increase their chance of success.
The platform of the company allows students and the recruitment partners an easy search for different educational institutes that count more than 1500 and for more than 10000 programs according to their interests and choice, thus simplifying the application process for the students. The startup helps in fulfilling the dream of many aspiring students of going abroad to study by helping them discover and explore the opportunities and options available in the world.
The founders founded this startup because of their personal experience. They all came from Iran to study in Canada. It was during the application phase when they faced many difficulties which come while applying for international schools. It was because of this, their own difficulty, that they thought of helping other students and make their work easy. The statement has been made by the company which said that India had become the main goal of applying the strategies of the company. The startup will be continuing to expand its team and the products and the services its offers in the country and will focus to help the students not only for the future education in India but also in the world. The company wants to create a bigger image in the country and will be trying all its efforts to do so.
The General Manager and Head of Operations in India at ApplyBoard India, Karunn Kando said that they are excited and pumped up with the opportunities and new options which will come up because of the funding. Since the company is planning to expand itself in India, it will help in increasing the business growth in the country and the team hopes to help the students and support those who will be willing to study abroad. The statement further even said that the company has included new products and services in its portfolio in the last year which consists of ApplyProof which helps the important personnel like admission officers, immigrant officials to be able to trust the authenticity and truthfulness of the documents like letters of acceptance, test scores.
The startup has been expanding its operations to offer services in the international educational programs in the UK, Australia, the US. The members of the global team of the startup have also increased to more than 1000, which is double the members present earlier. In the last six years, the startup has expanded to more than 200000 students who have been assisted by ApplyBoard during the application phase and the company aims to support many millions in the coming years.
This startup can be really helpful in fulfilling a million dreams of going out of the country for studies. We just wish good luck and future to the company.