ApplyBoard Inc., one of the fastest-growing startups to emerge from the Waterloo, Ont., region in years, confirmed Tuesday it has raised US$300-million in a venture funding led by Ontario Teachers’ Pension Plan that values the company at US$3.2-billion.
The funding, first reported last week by The Globe and Mail, was also backed by investors Fidelity Management & Research Co. LLC, Business Development Bank of Canada, Harmonic, Index Ventures, Garage Capital and Blue Cloud Ventures. ApplyBoard previously raised $242-million.
The deal is the highest-profile Canadian bet by the two-year-old Teachers’ Innovation Platform, which has a mandate to increase the pension giant’s exposure to private technology investments.
Kitchener, Ont.-based ApplyBoard was founded in 2015 by Iranian-born CEO Martin Basiri, now…