Funding round
ApplyBoard Series D
ApplyBoard, which works in international education platform development in Kitchener, raised $300M in a Series D round announced on 15 Jun 2021, led by Ontario Teachers’ Pension Plan, at a $3.20B post-money valuation. 7 firms took part, 7 of them already investors. It is ApplyBoard's fourth venture round on record; the one before was a Series C in Sep 2020.
$300M
Amount raised
$3.20B
Post-money valuation
$2.90B pre-money
7
Investors
1 lead
2.3x
Step-up from the Series C
$1.40B in Sep 2020
9.4%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced ApplyBoard at $3.20B after the new money, 2.3 times the $1.40B of its Series C (Sep 2020). The $300M bought investors about 9.4% of the company. It came 9 months after ApplyBoard's Series C. It is 73% of the $409M ApplyBoard has raised in the venture rounds on record. No later venture round is on record for ApplyBoard.
ApplyBoard's funding rounds
ApplyBoard has 4 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Ontario Teachers’ Pension Plan led the round with 6 other firms. Ontario Teachers’ Pension Plan, Fidelity Management & Research Company LLC, BDC and Harmonic and 3 more had backed ApplyBoard before.
Lead investor
- Ontario Teachers’ Pension Plan backs 35 venture-backed companies existing investor
Also in the round
- Fidelity Management & Research Company LLC existing investor
- BDC existing investor
- Harmonic existing investor
- Index Ventures backs 353 venture-backed companies existing investor
- backs 63 venture-backed companies existing investor
- backs 27 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
238 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 3.0 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Trulioo Tech Companies | 7 Jun 2021 | $394M | $1.75B | Technology Crossover Ventures |
| Tech Companies | 1 Jun 2021 | $190M | not disclosed | Denso and Cowen Capital |
| Tech Companies | 22 Jun 2021 | $157M | $1.10B | Permira and Salesforce Ventures |
| Verbit Tech Companies | 8 Jun 2021 | $157M | $1.00B | Sapphire Ventures |
| Claroty Tech Companies | 17 Jun 2021 | $140M | not disclosed | Bessemer Venture Partners and 40 North |
| Tech Companies | 23 Jun 2021 | $120M | $1.00B | Goldman Sachs Asset Management |
| Tech Companies | 23 Jun 2021 | $120M | not disclosed | Prysm Capital |
| Tech Companies | 3 Jun 2021 | $110M | $1.20B | Riverwood Capital |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did ApplyBoard raise in its Series D round?
ApplyBoard raised $300M in its Series D round, announced in Jun 2021.
Who led ApplyBoard's Series D round?
Ontario Teachers’ Pension Plan led it, with Fidelity Management & Research Company LLC, BDC, Harmonic, Index Ventures and Garage Capital and 1 more.
What was ApplyBoard's valuation at the Series D round?
$3.20B post-money ($2.90B pre-money).
How does it compare with other Series D rounds in Tech Companies?
238 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 3.0 times the median.