ApplyBoard completes $100 million Series C financing round led by Drive Capital

On May 4, ApplyBoard completed its $100 million Series C financing round led by Drive Capital. The financing round places ApplyBoard at a $2 billion valuation, making it the latest Canadian tech company to reach Unicorn status: a private company with a valuation of over US $1 billion. The funding will allow ApplyBoard to hire more staff and aid in achieving the company’s vision.

ApplyBoard is a Kitchener-Waterloo based technology firm focusing on simplifying the study abroad search, application and acceptance process by connecting students, recruitment partners and academic institutions on one platform. ApplyBoard is partnered with over 1,200 educational institutions and works with over 4,000 recruitment partners to help international students apply for schooling in Canada, the U.S. and the U.K.

Drive Capital is an Ohio based venture capital firm focused on investments in technology, healthcare and consumer companies.

Osler, Hoskin & Harcourt LLP advised ApplyBoard with a team consisting of 
Chad Bayne
Michael Grantmyre,
Justin Dharamdial,
Andrew Irwin,
Isaac da Silva Aboo,
and Shalu Atwal (emerging and high growth companies).

Dentons Canada LLP advised Drive and BDC with a team consisting of 
Andrea Johnson
Tom Redekopp,
Julien Bourgeois,
Scott Kuehn,
Ahmed Mudathir,
and Larry Nevsky.

Borden Ladner Gervais LLP (BLG) acted in relation to certain funds managed by Fidelity Investments Canada ULC with a team that was led by
Carlos Cerqueira,
and which included

Stephen Nguyen.

Goodwin Procter advised Anthos.