Wij willen met u aan tafel zitten en in een openhartig gesprek uitvinden welke uitdagingen en vragen er bij u spelen om zo, gezamelijk, tot een beste oplossing te komen. Oftewel, hoe kan de techniek u ondersteunen in plaats van dat u de techniek moet ondersteunen.

Brothers Martin, Meti and Massi Basiri all left Iran to study abroad in Canada. After struggling with every aspect from the visa process to grade conversions, the brothers saw an opportunity to make the transition to study internationally more seamless. So, they started Applyboard in 2015 at University of Waterloo’s Velocity Garage.

ApplyBoard has two main parts of its business. First, the company helps international students search and apply from a single platform to universities and colleges across the world. Similar to how American students use the Common App to apply to schools, ApplyBoard seeks to be the college undergrad application for international students, and serve as a marketplace. It is free for students.

The other part of ApplyBoard’s business is on the university side. The startup makes money from revenue-sharing agreements with colleges and universities. If a student attends a college from using their services, ApplyBoard gets a cut of the tuition.

While the SaaS-enabled startup did not disclose revenue, it said it took in $ 300 million in sales last year.

Five years after founding, ApplyBoard has helped assist over 100,000 students across 110 countries to study internationally. Today, the Ontario-based startup announced it raised $ 75 million (USD) at a $ 1.5 billion valuation, making it the latest edtech unicorn.

Unlike most of the reported rounds we’ve been covering these days, this round was closed at the end of March in the thick of the pandemic for Canada, co-founder Martin Basiri told TechCrunch . It means that ApplyBoard’s new valuation is yet another example of how edtech as a sector is feeling dollar sign momentum from COVID-19.

The pandemic has forced millions of students to learn from home, putting tech companies at the forefront of making remote education possible. ApplyBoard, said Basiri, had a 200% month-over-month surge of new schools signing up for its service.

“A lot of investors noticed the importance of our digital platform that can do such an important job,” said Basiri.

While most unicorns in the edtech space hail from the B2C space, like Duolingo and Udemy, the story with ApplyBoard shows that there is promise in selling to large businesses. Across the world, colleges have been turning to alternative marketing channels as campus tours and limited travel hurts their exposure to international students.

The new round was led by Drive Capital. Other participating investors include Fidelity Investments Canada ULC, Business Development Bank of Canada, Anthos Capital, Artiman Ventures, and Plug and Play Tech Center. ApplyBoard plans to hire 100 more employees, atop its existing 400 staff.


TechCrunch

Tandem, one of the most sought after companies to graduate from Y Combinator’s summer batch, will emerge from the accelerator program with a supersized seed round and an uncharacteristically high valuation.

The months-old business, which is developing communication software for remote teams after pivoting from crypto, is raising a $ 7.5 million seed financing at a valuation north of $ 30 million, sources tell TechCrunch. Airbnb investor Andreessen Horowitz is leading the round.

Tandem and a16z declined to comment for this story. The round has yet to close, which means the deal size is subject to change. Y Combinator startups raise capital using SAFE agreements, or simple agreements for future equity, which allow investors to buy shares in a future priced round at a previously agreed-upon valuation.

We’re told several top venture capital firms were vying for a stake in Tandem. One firm even gifted the founders a tandem bike, sources tell TechCrunch, resorting to amusing measures to sway the Tandem team. But it was a16z — which has an established interest in the growing future of work sector, evidenced by its recent investment in the popular email app Superhuman — that ultimately won the coveted lead investor spot.

Tandem provides a virtual office for remote teams, complete with video-chatting and messaging capabilities, as well as integrations with top enterprise tools including Notion, GitHub and Trello. The service launched one month ago and has signed contracts with Airbnb, Dropbox and others. The company claims to be growing 50% week-over-week.

“Every company is a remote company,” Tandem chief executive officer Rajiv Ayyangar said during his pitch to investors on day two of Y Combinator Demo Days this week. “You have salespeople in the field, [companies with] multiple offices, people working from home. Tandem isn’t just building the future of remote work, it’s building the future of work.”

Ayyangar was previously a data scientist at Yahoo before joining Yakit, a startup seeking to simplify ecommerce delivery, as the director of product. Co-founders Bernat Fortet Unanue and Tim Su are also Yahoo alums.

We’re told Tandem’s fundraise was nearly complete before it pitched to investors Tuesday afternoon. Startups that participate in YC are often flooded with offers from VCs throughout the three-month program. Firms are hungry for the batch’s Airbnb, Dropbox or Stripe — graduates of the program — and will pay premiums on startup equity for their chance to invest in a future ‘unicorn.’

As a result, the median seed deal for U.S. startups in 2018 was roughly $ 2 million — a record high — with typical pre-money valuations hovering north of $ 10 million. Tandem’s seed financing represents both a trend of swelling seed deals and valuations, as well as a tendency for VCs to dole out more cash to fresh-from-YC companies amid heightened competition amongst their peers.

The previous YC batch, which wrapped up in March, included ZeroDown, Overview.AI and Catch, a trio of companies that pocketed venture capital ahead of demo day. ZeroDown, a financing solution for real estate purchases in the Bay Area, raised upwards of $ 10 million at a $ 75 million valuation before demo day, sources told TechCrunch at the time (months after demo day, Zero Down announced a whopping $ 30 million financing). ZeroDown was an outlier, of course, as the company’s founders had previously co-founded the billion-dollar HR software company Zenefits.

As for the summer batch, we’re told Actiondesk, Taskade and Tandem are amongst the startups to garner the most hype from investors. Some even forwent the demo day pitch altogether. BraveCare, which is creating urgent care clinics intended just for kids, raised $ 4.1 million ahead of demo day, we’re told. The company opted not to pitch to additional investors this week.

You can read about all the company’s that pitched during demo day one here and demo day two here.


TechCrunch

Created by R the Company. Powered by SiteMuze.