Instructure Files S-1, Seeks $75 Million in IPO

Instructure Files S-1, Seeks $75 Million in IPO

INSIDE INSTRUCTURE: For its initial public offering, Instructure filed its Form S-1 with the SEC—offering the public a glimpse at the numbers and operations behind the scene. The Salt Lake City, UT-based company is currently planning to raise up to $75 million under the symbol “INST.” Founded in 2008, Instructure has raised upwards of $90 million of venture capital.

A few highlights from the document:

  • As of June 30, 2015, the company claims “more than 1,400 customers, representing colleges, universities, K-12 school districts [in 48 US states], and companies in more than 25 countries.” More than 100 of its customers hail from the corporate space.
  • In 2014, the company saw $44.4 million in revenues and a net loss of $41.4 million. During the first six months of 2015, Instructure saw $30.5 million in revenues and a net loss of $30.6 million.
  • Sales and marketing make up over half of the company’s operating expenses, although research and development is seeing an increasing share, from 23% (2012) to 30% (2013) and 31% (2014).
  • “In 2014, no single customer represented more than 10% of our revenue.” Customers outside the US made up 4% of revenue that year; in the first half of 2015 the figure was 6%. The company has offices in London, Sydney and Hong Kong. The company has more than 650 employees.
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