ApplyBoard receives $50 million from Innotech Partners

*This media release was written as part of my coursework at Conestoga College.

ApplyBoard, an international student recruitment platform, has obtained a $50 million Cdn investment from Innotech Partners, a venture capital firm, to expand. 

By identifying a trend during the global pandemic, ApplyBoard has helped over 200,000 students with their educational journeys, becoming the world’s largest online platform for international student recruitment. This investment from Innotech Partners will help expand their platform’s capacity to assist and recruit more international students for the upcoming fall and winter semesters. 

“We have already helped more than 200,000 students in their educational journeys and plan to help another 20,000 to have a successful start to their 2024 academic year this September. We understand the challenges of the past few years, but education provides the opportunity to foster economic recovery around the world and re-establish the ties that made this global educational community the backbone to the world economy”, said Martin Basiri, founder and CEO of ApplyBoard. 

The newest unicorn startup, valued at $4 billion Cdn, has raised $242 million Cdn over multiple funding rounds. In 2019, ApplyBoard was ranked #1 on the ‘Technology Fast 50’ list by Deloitte, Canada and in 2020, it was ranked 3rd on the ‘Top Startup’ list in Canada by LinkedIn. 

“We continue to strive to be the most convenient platform for international students to find opportunity abroad and make the transition seamless by partnering with member institutions,” said Martin Basiri, Founder and CEO of ApplyBoard. Founded in 2015 by Martin and his brothers Meti and Massi Basiri, former University of Waterloo and Conestoga College international students, they have built partnerships with more than 1,200 primary, secondary, and post-secondary educational institutions and work with 4,000+ recruitment partners to drive diversity on campuses across Canada, the United States, the United Kingdom and Australia. 

“Education and the knowledge economy are the biggest drivers of future innovation, and they will continue to spark the growth of future business enterprise,” said John Volk, founder and CEO of Innotech Partners. Founded in 2010, founder John Volk supports unprecedented growth in the knowledge-based economy. Their goal is to find investment vehicles to power the innovation needed for the 21st century and have returned a minimum of 10 percent growth per annum for their clients. 

The ApplyBoard headquarters is located in downtown Kitchener, Ont., with representatives in more than 20 other countries, including India, China, Vietnam, the Philippines, Nepal, Bangladesh, the United Kingdom, Australia, and the United States. They currently employ 550 people, but with the recent round of funding, they are looking to expand their workforce locally and internationally. For more information, visit www.applyboard.com. 

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