CDPQ Invests in ApplyBoard, a Global Leader in EdTech

ApplyBoard, the online platform that empowers students around the world to access top quality education, and Caisse de dépôt et placement du Québec (CDPQ), a global investment group, announced today a minority investment in ApplyBoard as part of its Series D round. CDPQ is investing through its Equity 25³ fund, the largest Canadian fund ever created to target companies that leverage diversity and inclusion as a vector of development and expansion.

This investment is part of ApplyBoard’s recent US$300M Series D announcement that put its valuation at US$3.2 Billion. The addition of CDPQ to ApplyBoard’s investors further strengthens its position as a global leader in EdTech and the international education industry. CDPQ’s investment is aligned with its broader strategy to support global disruptive technology companies.

“ApplyBoard is excited to welcome CDPQ, not only as an investor, but also as a partner dedicated to long-term growth,” said Martin Basiri, Co-Founder and CEO of ApplyBoard. “After working with CDPQ, we’ve come to love working with their team. Their values and their dedication to doing something good for the world stood out immediately and connected with what we are doing right now at ApplyBoard.”

As the world’s largest online platform for international studies, ApplyBoard is revolutionizing the student application experience by leveraging the use of technology through its integrated online platform that connects international students, academic institutions, recruitment partners and governments. In the past year, ApplyBoard maintained its rapid growth by increasing the number of students using its platform, developing new partnerships with schools, and expanding its services to offer access to international educational programs in Canada, the UK, Australia, and the U.S.  

“Diversity and inclusion are at the heart of ApplyBoard’s way of doing business, both of which are aimed at sustaining value creation for the long term. They are reflected in the company’s quality management team and workforce, and through its mission to democratize education by allowing international students to access academic institutions around the world,” said Wils Theagene, Senior Director, Québec at CDPQ and representative of the Equity 25³ fund. “Through our diversity-dedicated fund, Equity 25³, we want to accompany promising Canadian SMEs and technology companies like ApplyBoard to implement D&I initiatives and promote them as strategic business priorities.”

ApplyBoard recently exceeded more than 1,000 team members worldwide to meet ongoing market demand and product development, including ApplyProof, which enables stakeholders in the student journey to trust the authenticity of documents, such as English test scores, letters of acceptance, and more.