Strategic partnership with TOEFL creator and additional funding will empower more students to access the best educational opportunities around the world
September 16, 2020 鈥� ApplyBoard, the online platform that empowers students around the world to access the best education, today announced it has raised C$70M (US$55M) in Series C extension funding with participation from Education Testing Services (ETS), Index Ventures, Blue Cloud Ventures, Harmonic Growth Partners, and additional investors. Adding to the C$100M (US$72M) in Series C funding closed in March 2020, this extension brings ApplyBoard鈥檚 total Series C funding to C$170M (US$130M).
The funding extension has also brought with it a new strategic partnership between 星空影视and ETS, the world鈥檚 largest non-profit education testing and assessment organization as well as the administrator of the TOEFL庐 English-language proficiency test and GRE庐 graduate admissions test. ETS鈥檚 equity investment in 星空影视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 星空影视reflects ETS鈥檚 strategy to embrace new technologies and strategic partnerships that help broaden the global reach in education鈥攂oth in terms of student countries of origin as well as their destinations for studying. In partnering together with ApplyBoard, we look forward to leveraging ETS鈥檚 expertise in assessments to help them further scale their business, bolster their offering, and best serve international students and academic institutions in higher education.”
鈥� Ralph Taylor-Smith, Managing Director of ETS Strategic Capital
ETS and 星空影视will work together to provide prospective international students with an end-to-end application experience, from preparing and taking the TOEFL or GRE to searching for, applying to, and commencing studies at one of ApplyBoard鈥檚 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. United in our shared belief in the power of education to change the world, 星空影视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.”
鈥� Martin Basiri, Co-Founder and CEO of ApplyBoard
“星空影视is providing students with access to schools around the globe at the click of a button,” said Dino Becirovic, Principal at Index Ventures. “Between schools, programs, eligibility requirements, and other criteria, there are over 10 billion combinations that are considered for a single admissions decision today. 星空影视offers a unique platform that abstracts away this complexity and provides students with a seamless application and enrollment experience. We are excited to partner with the company to help students access the best possible educational opportunities.”
星空影视plans to use these funds to fuel its rapid growth by investing heavily in its proprietary technology, further developing its school and student services, expanding its destination markets, and serving a broader diversity of students and recruitment partners globally.
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About ApplyBoard
ApplyBoard empowers students around the world to access the best education by simplifying the study abroad search, application, and acceptance process. By connecting international students, academic institutions, and recruitment partners on a single online platform, 星空影视drives qualified student applicants and diversity to over 1,200 campuses across Canada, the United States, and the United Kingdom. Founded in 2015, 星空影视has helped over 120,000 students along their educational journeys. The company is headquartered in Kitchener, Ontario, Canada, with more than 500 staff members across 20 countries. To date, the company has raised C$242M (US$180M) in funding.
About Index Ventures
is a San Francisco- and London-based international venture capital firm that helps the most ambitious entrepreneurs turn bold ideas into global businesses. Index-backed companies that are reshaping the world around us include Farfetch, Figma, Robinhood, and Revolut. To learn more about Index, visit www.indexventures.com.
About ETS
At , we advance quality and equity in education for people worldwide by creating assessments based on rigorous research. ETS serves individuals, educational institutions and government agencies by providing customized solutions for teacher certification, English language learning, and elementary, secondary and postsecondary education, and by conducting education research, analysis and policy studies. Founded as a nonprofit in 1947, ETS develops, administers and scores more than 50 million tests annually鈥攊ncluding the TOEFL庐 and TOEIC庐 tests, the GRE庐 tests and The Praxis Series庐 assessments鈥攊n more than 180 countries, at over 9,000 locations worldwide.
Contact
Alicia Bedard
Senior Director, Marketing
P: +1-226-972-4376
E: press@applyboard.com
