Applyboard to leverage $300 mn funding to expand India operations

Canada-based edutech firm Applyboard plans to leverage part of USD 300 million fund 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.

Canada-based edutech firm Applyboard plans to leverage part of USD 300 million fund 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 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 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,'' Applyboard India head of India operations and general manager Karunn Kandoi told PTI. 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 programmes in the UK, Australia, and the US.

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