Last Friday Instructure celebrated its long-awaited IPO. The market bid the LMS provider a rather warm welcome, closing around 8% up in afternoon trading that day. CEO Josh Coates stated that there was a huge renaissance in education technology.
Instructure filed a S-1 form with the Securities and Exchange Commission, aiming for a $75 million IPO.
Founded in 2008, Instructure has raised close to $80 million in venture capital including a $40 million Series E in February. The two main products are the Canvas LMS for K-12 and Higher Education, and Bridge which targets corporate clients.
Instructure and Pearson announced an interesting partnership at SXSWedu. The bi-directional integration of the Canvas LMS and the PowerSchool SIS is a strong statement by itself, but if we add the fact that Pearson is planning to sell its Student Information System business it gets really intriguing.
Instructure has raised a $40 million Series E led by Insight Venture Partners with participation of Bessemer Venture Partners and EPIC Ventures.
The venture round brings the total raised by Instructure to around $90 million and it will be the last before the planned IPO later this year.
EDUCAUSE, the University of Central Florida (UCF) and Instructure announced a joined MOOC titled BlendKit2014 – Becoming a Blended Learning Designer, beginning April 21st.
This is the first MOOC by EDUCAUSE, a leading non-profit in the higher education IT vertical.