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.
Indian education service provider CL Educate, formerly known as Career Launcher, has filed papers for an IPO hoping to raise up to $40 million. The company was founded in 1994 and operates centers in Dubai and Abu Dhabi beside Northern India.