News & Events

On September 16, ApplyBoard, an online platform dedicated to “providing the best education for students around the world”, an angel round investment enterprise of China Canada Angel Alliance (CCAA) managed by Zhongguancun Dahe Capital, announced that it had completed an additional financing of 70 million Canadian dollars. Based on the 100 million Canadian dollars invested by Drive Capital in May this year, the total amount of the C-round financing of ApplyBoard reached 170 million Canadian dollars (US $129 million).

This round of financing will be pursued by Education Testing Services (ETS), Index Ventures, Blue Cloud Ventures, Harmonic Growth Partners and other investors. This round of financing will mainly be used for technology research and innovation, expanding the scope of business map provided to schools and students, cooperating with universities in new destination countries, and providing quality Services to more students and Partners worldwide.

This round of chasing investment and financing also means that ApplyBoard has opened a new chapter of strategic cooperation with ETS. Founded in 1947, ETS is the world’s largest non-profit educational testing and evaluation organization, with management including TOEFL ® English Proficiency Test and GRE ® A series of international standardized examinations, including the postgraduate entrance examination. ETS’s equity investment in ApplyBoard is carried out by ETS Strategic Capital, a new department of ETS that focuses on business development and mission realization through strategic equity investment, partnership development and mergers and acquisitions.

Ralph Taylor Smith, managing director of ETS Strategic Capital, said: “The equity investment in ApplyBoard shows ETS’ strategy of adopting cutting-edge innovative technologies and building strategic partnerships, which will help expand the global coverage of education – including the countries of origin and learning destinations of students. Through cooperation, we look forward to using ETS’s professional testing and experience in education testing and evaluation to help ApplyBoards further expand their business and jointly provide the best for international students and educational institutions ‘s services. “

ETS and ApplyBoard will work together in the future to provide international students with point-to-point services ranging from standardized test training and examinations, including TOEFL and GRE, to the verification of test evaluation results of more than 1000 cooperative schools of ApplyBoard.

Martin Basiri, co-founder and CEO of ApplyBoard, said, “In ApplyBoard, we believe that education is a right, not a privilege. Adhering to the common belief that education has the power to change the world, ApplyBoard and ETS will use this exciting strategic partnership to improve the application experience for future international students, break down barriers, and make more students have the opportunity to obtain the best education.”