“We’re on a mission to educate the world”

Founded: 2015 in Ontario, Canada

Category: Educational Technology

Primary office: Kitchener, ON (Canada)

Core technical team: Kitchener, ON (Canada)

 

Status: Private

Employees: 400+

Amount raised: CAD $172+ million (5 rounds – May 2020)

OVERVIEW

  • Provides an AI-driven online platform that connects International students with academic institutions and recruitment organizations in US, Canada and UK
  • Enables easy and seamless application and admission processes for all parties
  • Enables easy access to large number of schools, profile and eligibility matching, hassle-free admission process, tuition payments, scholarships, visa and settlement advice for International students

 

PERFORMANCE METRICS

  • Valuation – $1.4 billion (2020)
  • Revenue – $76.5 million (2019)
  • Sales: $300 million (2019)

 

ACHIEVEMENTS

  • 100,000 students’ educational journey assisted so far across 110 countries
  • 95% acceptance rate
  • Presence in 20 countries
  • “30 under 30” Entrepreneur Leaders (Forbes – 2019)
  • Canada’s fastest growing technology company (Deloitte – 2019)
  • $22 million in scholarships secured (2020)
  • Obtained $1.4 billion evaluation during the pandemic crisis
  • World’s largest online platform for international student recruitment

Sells

  • Applications and Admissions Online Marketplace (1,200+ educational institutions and 30,000+ programs)
  • Referrals

Channels

  • Online and Mobile Apps (iOS & Android)
  • Social media engagement
  • Webinars and Virtual workshops
  • Platform connects students with U.S., U.K. and Canadian secondary and post-secondary institutions

Competencies

  • Founder-led Management team
  • Artificial Intelligence & Big data Analytics

Resources

Assets

  • SaaS-enabled platform that connects students, educational institutions and recruitment partners
  • Revenue sharing agreements with colleges and universities – per centage of tuition fees
  • Partners with over 1,200 educational institutions ranging from Grade school to Postgraduate studies
  • Partners with over 4,000 admissions/educational recruitment organizations

Processes

  • User-friendly platform (for students, institutions and recruiters)
  • Largely virtual with ApplyBoard personnel assisting (as required) at key points
  • Free for students and applicants
  • Document verification
  • Admissions and recruiters’ virtual workshops
  • Dedicated Customer service & technical support
  • Easily search for institutions and programs

Priorities

  • Increase partnerships (e.g. extend partnerships to Airlines and financial Institutions)
  • Increase Cross-border operations (expand from U.S., U.K. and Canadian base)
  • Increase User base
  • Increase employees from 400 to 500

Assertions That Best Describe What the Company Did to Scale Early, Rapidly & Securely

  1. Develop and sell products that address a problem, job to be done or a need that is shared by a large and growing number of individuals and organizations in various regions to increase sales.
  2. Increase value by arranging and directing a community comprised of groups that are external and internal to the company and connect everything needed to scale
  3. Increase market share by applying digital technology to brand, market, sell, and service customers more cost-effectively than competitors
  4. Increase the company’s value by continuously seeking and receiving funding to support the company’s plan to scale and improve its image in the marketplace
  5. Continuously improve the user interfaces and applications that directly influence the entirety of the customer experience including personalized content, quality messaging, and the delivery and returns process to increase sales
  6. Eliminate communication and coordination barriers when working with foreign partners that are geographically separate, institutionally distant, and operate in different time zones
  7. Allow individuals and organizations to make money using your products and services
  8. Expand brand coverage, eliminate intermediaries, and operate a platform that is simple to use, attracts a very large market, and enables the company to control the quality of the products traded on the platform
  9. Enforce policies and procedures for resource combination, production and coordination, information search and gathering, bargaining, and accountability

References

ApplyBoard website. https://www.applyboard.com/

Crunchbase. 2020. ApplyBoard. https://www.crunchbase.com/organization/applyboard#section-current-team

Deloitte Canada. 2019. Technology Fast 50. [online]. Deloitte. https://www2.deloitte.com/ca/en/pages/technology-media-and-telecommunications/articles/fast50-winners.html

Forbes.  2019. The 2020- 30 Under 30. [online]. Forbes. https://www.forbes.com/profile/applyboard/?list=30under30-education#2026bfbf7ce6

Mascarenhas, N. 2020. EdTech’s newest unicorn, ApplyBoard, land $1.4billion valuation with fresh funding. [online]. TechCrunch. https://techcrunch.com/2020/05/04/edtechs-newest-unicorn-applyboard-lands-1-4b-valuation-with-fresh-funding/amp/

Owler. 2019. ApplyBoard. https://www.owler.com/company/applyboard


Contributors

  • Yinka Olanrewaju-Olawepo