ApplyBoard in its CAD $100 million Series C financing round




CAD$100 million


Emerging and High Growth Companies

Date Closed

May 2020

Lead Office



On May 4, 2020, ApplyBoard completed its CAD $100 million Series C financing round led by Drive Capital. The financing round places ApplyBoard at a CAD $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 specialized in 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 United States and the United Kingdom.

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).