This funding will enable the company to build a better future for countless students around the world by breaking down the barriers to accessing educational opportunities.
Today, ApplyBoard has announced an additional C$70M in Series C extension funding with participation from ETS, Index Ventures, Blue Cloud Ventures, Harmonic, and additional investors. Combined with the C$100M in Series C funding closed in March 2020, ApplyBoard’s total Series C funding now totals C$170M (US$130M).
The company is also announcing a new partnership between with nonprofit education testing and assessment organization ETS.
ETS is the world’s largest non-profit education testing and assessment organization, as well as the administrator of the TOEFL® English-language proficiency test and GRE® graduate admissions test. ETS’s equity investment in ApplyBoard was executed by ETS Strategic Capital, a new unit of ETS created to grow its business and advance its mission through strategic equity investments, growth partnerships, and acquisitions.
“The equity investment in ApplyBoard reflects ETS’s strategy to embrace new technologies and strategic partnerships that help broaden the global reach in education—both in terms of student countries of origin as well as their destinations for studying,” said Ralph Taylor-Smith, Managing Director of ETS Strategic Capital. “In partnering together with ApplyBoard, we look forward to leveraging ETS’s expertise in assessments to help them further scale their business, bolster their offering, and best serve international students and academic institutions in higher education.”
ETS and ApplyBoard will work together to provide prospective international students with a complete end-to-end application experience. It will encompass the entire student application journey—from preparing for and taking the TOEFL or GRE to searching for, applying to, and beginning studies at one of ApplyBoard’s 1,200+ partner schools across Canada, the United States, and the United Kingdom.
“At ApplyBoard, we believe that education is a right, not a privilege,” explained Martin Basiri, Co-Founder and CEO of ApplyBoard. “United in our shared belief in the power of education to change the world, ApplyBoard and ETS will leverage this exciting new partnership to transform the entire application experience for prospective international students, breaking down barriers and empowering even more students to gain access to the very best educational opportunities available to them.”
ApplyBoard was founded on the fundamental belief that education is a right, not a privilege. In everything that we do, we put student success first. Together, with our amazing partner schools and recruitment partners, we are on a shared mission to educate the world. That mission has become even more critical during the unprecedented times we have faced together in 2020.
We want to thank our ApplyBoard team members, customers, investors, and business partners for their ongoing support and partnership.
Together, we are educating the world and changing the lives of millions of students globally!
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