Kitchener-Waterloo, Ont.-based EdTech startup ApplyBoard has laid off employees as the global immigration landscape shifts under its feet, BetaKit has learned.
“As we prepare for the decade ahead, we’ve taken a hard look at where we must focus our resources to ensure we remain a leader in this space.”
ApplyBoard
The cuts affected more than 150 employees, according to Indian publication People Matters and multiple public LinkedIn posts.
In a statement to BetaKit, an ApplyBoard spokesperson confirmed that the company had “part ways” with a number of team members this week, but declined to specify how many, only saying it “is close to the reported number” across its global team. Some LinkedIn posts viewed by BetaKit came from affected employees in Canada and India.
“This decision was not taken lightly and comes in response to shifting market dynamics, driven largely by recent policy changes across major study destinations,” the spokesperson said in an email. “This introduced uncertainty and temporarily impacted international student demand.”
Inspired by their experience emigrating from Iran to study in Canada, ApplyBoard was founded in 2015 by CEO Meti Basiri, along with his brothers Martin and Massi, to help international students navigate the search, application, and acceptance process of studying abroad.
While the company achieved unicorn $1-billion USD valuation status in May 2020, immigration policy in North America has dramatically changed over the past year. In September 2024, it secured a $100-million CAD credit facility as it looked to place less emphasis on English-speaking countries. ApplyBoard reportedly laid off four percent of its global workforce just two days after announcing the financing.
ApplyBoard’s focus abroad followed the Canadian government placing a cap on student visas in early 2024, citing increased pressure on housing, healthcare and other services. In September, the federal government lowered the cap even further and reduced and restricted international students and post-graduation work permits.
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According to an ApplyBoard report last year, the number of new study permit applications processed by the federal government dropped 54 percent in Q2 2024 compared to the same period in 2023. The report projected that the number of applications would drop 47 percent from 436,600 approved in 2023 to just over 231,000 in 2024.
The scrutiny over immigration then continued into 2025, with the new Liberal government’s proposed “Strong Borders Act” granting sweeping power to pause, suspend, or cancel immigration documents in Canada. This is without even mentioning travel and immigration bans in the United States (US) presenting open hostility to international students, and widespread revokings of student visas, leaving many reportedly scared to leave or return to the US.
Despite these “short-term headwinds,” the spokesperson said that ApplyBoard’s “belief in the future of global education remains absolute.”
“Historically, student mobility has doubled every decade and we’re confident that it will regain momentum,” the spokesperson added. “As we prepare for the decade ahead, we’ve taken a hard look at where we must focus our resources to ensure we remain a leader in this space.”
Feature image courtesy ApplyBoard.