Canadian ed tech unicorn ApplyBoard has bought Panda Portal, a student recruitment platform.
Founded in 2020 and based in Kitchener, Ontario, Panda Portal is a site that connects educational institutions with their recruitment partners. ApplyBoard has rebranded Panda Portal as TrainHub, which will remain as a stand-alone platform.
This is ApplyBoard’s first acquisition in its seven-year history.
ApplyBoard is a site that gives agents updated details of the training offered by their partner schools for students studying abroad, while providing the schools with data, saving time on building relationships with the agents.
In June last year, ApplyBoard raised US$300 million in a Series D funding round at a post-money valuation of US$3.2 billion. The round was led by Ontario Teachers’ Pension Plan Board and backed by Caisse de dépôt et placement du Québec (CDPQ) as well as previous investors Fidelity Management & Research Company, BDC, Harmonic, Index Ventures, Garage Capital, and Blue Cloud Ventures.
The company said it plans to use these funds to develop and introduce innovative product offerings. It has invested more than US$1 million over the past year in training and professional development of recruitment partners through its free ApplyBoard counsellor course, part of a two-year commitment to invest a minimum of US$10 million in training and enablement of the sector.
Date published: 22 March 2022