The Ontario Teachers’ Pension Plan has raised $375 million in a series D funding round for Applyboard Inc., an online platform that connects students to teachers in virtual classrooms around the world.
Founded in 2015, the Kitchener, Ont.-based education company is now valued at $4 billion. It had previously raised $225 million through various earlier funding rounds. In a press release, Martin Basiri, co-founder and chief executive officer of Applyboard, said interest in the company’s offerings has intensified as a result of the global coronavirus pandemic.
In the release, Olivia Steedman, senior managing director of the Teachers’ Innovation Platform, said the company’s focus on education made it a logical target for the pension fund’s investment dollars. “ApplyBoard’s technology platform is simplifying the process of connecting students and educational institutions and creating greater opportunities for education globally.”
The Ontario Teachers’ was also part of a series B funding round that raised $226 million for Motif Foodworks Inc.
The Boston-based Motif is a food development company that’s working to create convincing plant-based alternatives to meat and dairy. This capital injection has been earmarked to accelerate Motif’s plans to bring plant-based foods to market. The company also plans to use some of the funds to increase its research and development capabilities and expand workforce and facilities.
“Making plant-based foods taste great will increase the global appetite for this sector — and shape a better future for our planet in the process,” said Steedman, in a separate press release. “As people increasingly look to meat and dairy alternatives, Motif offers breakthrough solutions powered by leading technology, deep scientific expertise and a visionary management team.”