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.
The investment will go into the launch of Instructure’s new business facing product called Bridge, a corporate learning and engagement platform. At launch CLEARLINK, OpenTable and Oregon State University are using the product.
Since its launch in 2011, Instructure’s Canvas LMS has been used by over 18 million students and teachers from more than 1,200 universities, colleges and K-12 school districts across the globe. With Bridge, Instructure aims to create a similar success in the corporate market.
Further Reading
- Instructure Secures $40 Million in a Pre-IPO Series E Round | PR Newswire
- On The Way To An IPO, Education Technology Startup Instructure Is Close To Raising A Big New Round | TechCrunch
- Education tech startup Instructure has raised $40 million | Business Insider
- Instructure Expands in Corporate Market With New Funding | Inside Higher Ed