APPLYBOARD RAISES $17 MILLION TO IMPROVE INT’L STUDENT APPLICATIONS WITH AI
Waterloo-based ApplyBoard, an AI-enabled marketplace that allows international students to apply to study at higher education institutions around the world, has raised a $17 million Series A CAD.
The funding was led by Artiman Ventures, with follow-on investments from early investors 500 Startups, Candou Ventures, Think+, and others.
Launched in 2015, ApplyBoard aims to change the application process for international students. The company’s platform curates a student’s profile based on their academic background, desired program of study, and financial situation. Using AI, the platform then matches students with a list of correlated schools and programs.
The company says that by pre-vetting applications and advising students in the Visa process results in a 95 percent acceptance rate.
To date, ApplyBoard said it has partnered with 750 high schools, colleges, and universities across North America.
“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 said it plans to use the funding towards growing the company and further developing its platform. The company’s broader goal is to make education accessible to students around the world, regardless of their nationality or location.
“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.”