Instructure Scores $30M Series D, Sets Sights on IPO


Instructure Scores $30M Series D, Sets Sights on IPO

Jun 6, 2013

INSTRUCTURE: $30 million to Salt Lake City, UT-based Instructure in Series D round led by Bessemer Venture Partners, with existing investors EPIC Ventures, OpenView Venture Partners, TomorrowVentures, and others participating. The company has now raised $50 million to date. BVP partner and former IBM exec, Byron Deeter, will join the board. (See press release for more details.) Instructure is best known for its Canvas learning management platform, which was launched in 2011 and now counts over 6 million users in over 425 K-12 and higher-ed institutions. And, perhaps just as important, it's booked "more than $90 million in contracts." Instructure also offers its own MOOC platform, the Canvas Network, which has delivered over 40 courses from schools like Brown University. GigaOM reports that CEO Josh Coates is eyeing an IPO in the next few years.

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