Waterloo-based education technology startup ApplyBoard has secured $13 million in a Series A financing. The round was led by U.S. venture capital firm Artiman Ventures and joined by existing investors, including 500 Startups, Candou Ventures and Think+. ApplyBoard, founded in 2015 by CEO Martin Basiri and CMO Meti Basiri, has created an artificial intelligence-enabled marketplace to help international students apply for study at post-secondary institutions worldwide. It has so far partnered with more than 750 North American educational institutions. ApplyBoard will use the funds raised for growth and to further develop its platform.
WATERLOO Region, Ontario, June 28, 2018 – ApplyBoard, an AI-enabled marketplace uniquely designed for international students to apply to study at the best institutions of higher education globally, today announced it has raised $13 million in Series A funding. The financing is led by Silicon Valley-based Artiman Ventures, with earlier investors 500 Startups, Candou Ventures, Think+ and others following on. The funds will boost the company’s mission to make education accessible to students everywhere by continuing the growth of the company and further developing its platform.
Currently, over seven million students have travelled internationally for their post-secondary education, with the majority going to universities in North America and Europe. ApplyBoard provides a full stack solution for students looking to pursue international education. The company’s proprietary platform streamlines the application process by curating a student’s profile based upon a number of factors including academic background, desired major and financial situation, and through its AI, matches the student with a list of highly correlated schools and programs. By pre-vetting these applications and assisting in the visa process, ApplyBoard achieves a 95 percent acceptance rate for its students.
“There is a massively underserved market for international study,” said Martin Basiri, CEO and Co-founder of ApplyBoard. “Millions encounter the same problem, such as collecting the required documents and securing a student visa, every year. The company was built from my own experiences and challenges as an international student. We created ApplyBoard to offer our expertise and help other students with their application process.”
ApplyBoard’s mission is to make the best possible education accessible to students worldwide, regardless of their nationality or location. To date, ApplyBoard has partnered with over 750 high schools, colleges and universities across Canada and the U.S.
“The majority of the seven million international students will struggle to find their ideal colleges, and instead will select where they spend the next four years and potentially the rest of their lives, based upon internet searches and random chance,” said Akhil Saklecha, Partner at Artiman Ventures. “ApplyBoard applies technology to a very manual process, creating a highly efficient application solution for students and colleges globally.”
ApplyBoard is an AI marketplace uniquely designed for international students to apply to study at the best institutions of higher education globally. Created in 2015, the company revolutionizes the way students experience the application process. Based in Canada’s tech hub, Waterloo region, and with offices across various countries including China, Nepal, Vietnam and India, the platform also acts as a secure space for students to keep the required documents to make the process as seamless as possible. ApplyBoard is a powerful solution for the industry, and provides students with everything they need to successfully study abroad. To learn more about ApplyBoard, visit http://www.applyboard.com.
About Artiman Ventures
Artiman Ventures is an early-stage venture fund that invests in white space companies that create or disrupt multi-billion dollar markets. Based in Silicon Valley and Bangalore, Artiman has a rich history of working with entrepreneurs for the long term, supplying capital at the concept phase, and helping with all aspects of strategy, market definition and execution. Artiman has over one billion under management across four early-stage and two later-stage venture capital funds. To learn more about Artiman Ventures, visit http://www.artiman.com.