ApplyBoard
| Company type | Private |
|---|---|
| Industry | Software |
| Founded | Waterloo, Ontario, Canada (2015) |
| Founders | Martin Basiri Meti Basiri Massi Basiri[1] |
| Headquarters | Kitchener, Ontario, Canada[2] |
Area served | Worldwide |
Key people | Martin Basiri (co-founder and Chairman) Meti Basiri (co-founder and CEO) Massi Basiri (co-founder and President) |
Number of employees | 1,000 (June 2021)[3] |
| Website | applyboard |
ApplyBoard is a Canadian educational technology company founded in 2015 in Waterloo, Ontario, Canada.[1] It is an educational application platform for international students applying for post-secondary studies abroad.[4]
History
[edit]ApplyBoard was founded in 2015 by three brothers Martin Basiri, Massi Basiri and Meti Basiri, who moved from Iran to Canada.[1] It is an application platform that lists colleges, universities, and K-12 schools in Canada, the United States, the United Kingdom, and Australia.[5] In 2019, the company had 170 employees and partnerships with 1,200 secondary and post-secondary institutions in Canada and the United States; the company also moved its headquarters to its current location in Kitchener, Ontario.[6]
In October 2019, ApplyBoard launched a secondary technology platform called ApplyProof that supports peer-to-peer verification of Letters of Acceptance (LoA) from a university,[7] and English language proficiency tests.[8]
As of 2020, the company had 500 employees and expanded to the United Kingdom. In February 2020, Jo Johnson, the former Minister of State for Universities, Science, Research and Innovation of the United Kingdom, joined the company as the chairman of the Advisory Board.[9] In October 2020, the company announced a partnership with Times Higher Education.[10]
As of 2021, ApplyBoard had raised $475 million in funding, reaching valuation of $3.2 billion.[11] By 2024, the company's valuation had decreased by 74% to under $1 billion. This decrease in value was linked to a decline in the number of students applications being accepted by Canada.[12]
In November 2022, the company laid off 6% of its global workforce.[13]
The company has been criticized for not adequately supervising agents under Canadian legislation, specifically when agents sell "empty promises" (incomplete or inaccurate guidance) or biased information to applicants.[14] Co-founder Meti Basiri claimed in 2022 that the company’s standards were sufficient to meet the regulations.[15]
References
[edit]- ^ a b c "Edtech's newest unicorn, ApplyBoard, lands $1.4B valuation with fresh funding". TechCrunch. May 5, 2020. Retrieved November 6, 2020.
- ^ "Kitchener, Ont., startup hits $1B valuation to become Canada's latest 'unicorn'". CTV News. May 5, 2020. Retrieved November 6, 2020.
- ^ "Study Abroad EdTech ApplyBoard Triples Valuation To $3.2 Billion With $300 Million Fundraise". Forbes. Retrieved June 15, 2021.
- ^ Simpson, Meagan (May 5, 2020). "ApplyBoard raises $100 million CAD, claims $2 billion 'unicorn' valuation". BetaKit. Retrieved October 17, 2021.
- ^ Sternlicht, Alexandra. "Study Abroad EdTech Company ApplyBoard Raises $55 Million Series C Extension". Forbes. Retrieved August 30, 2021.
- ^ Bean, Bill (April 18, 2019). "New office, new growth for ApplyBoard". Communitech News. Retrieved August 12, 2021.
- ^ "ApplyProof and Pearson PTE partnership to help Canada-bound students". Communitech. Retrieved August 30, 2021.
- ^ "Applyproof partners with Pearson and ETS". thepienews.com. Retrieved August 30, 2021.
- ^ "Kitchener's ApplyBoard appoints brother of British PM as chairman". CTV News. February 13, 2020. Retrieved November 6, 2020.
- ^ "THE announces partnership with ApplyBoard". The Pie News. Retrieved November 6, 2020.
- ^ Inc42, Team (June 16, 2021). "Canadian Edtech Startup ApplyBoard Raises $300 Mn In Series D Funding; To Expand India Footprint". Inc42 Media. Retrieved December 10, 2023.
{{cite web}}: CS1 maint: numeric names: authors list (link) - ^ "Teachers Venture Growth and the ApplyBoard debacle". OPM WIRE. February 6, 2025. Retrieved March 10, 2025.
- ^ Sandstrom, Alison (November 29, 2022). "Another Kitchener-based tech company confirms layoffs". CTV News. Retrieved September 22, 2023.
- ^ Mark Kelley (October 13, 2022). "Sold a Lie". The Fifth Estate.
- ^ Matthew Halliday (November 2, 2022). "The murky world of unregulated international student recruiters". University Affairs.