Wednesday, March 22, 2023

Edutech Firm Applyboard to Increase Staff Strength by 3 Times in 2 Years

Edutech Firm Applyboard to Increase Staff Strength by 3 Times in 2 Years

Canada-based edutech firm Applyboard plans to leverage part of USD 300 million funds it raised in series D round to expand its team in India by three-folds to around 900 employees in two years, a senior official of the company said on Wednesday.

Applyboard has raised USD 300 million at an enterprise valuation of USD 3.2 billion led by the Ontario Teachers’ Pension Plan Board through its Teachers’ Innovation Platform (TIP) in the latest funding round.

Existing investors Fidelity Management and Research Company LLC, BDC, Harmonic, Index Ventures, Garage Capital, and Blue Cloud Ventures also participated in the round.

“India is the largest market for Applyboard. We will be using a portion of the fund to expand India’s operations. We currently have over 300 employees in India. We expect to increase it by 3 times to over 900 in the next 2 years,” said Applyboard India head of India operations and general manager.

Applyboard provides application services for overseas education. The company will be hiring for research, product and technology development, sales, and operational support.

“We recruit engineering and MBA freshers to domain experts. This round should further enable us to create direct and indirect employment in the country,” Kandoi said.

As part of the expansion plan, Applyboard plans to open a large development and support centre in Gurgaon and offices in other parts of the country in near future, he said.

Founded in 2015, ApplyBoard offers access to international educational programs in the UK, Australia, and the US.