Edtech firm Instructure secures $40m series E to support the launch of corporate learning platform Bridge.
Instructure, an edtech software-as-a-service platform, has raised $40m in a series E round geared towards launching its corporate-focused learning platform Bridge and a future IPO.
Instructure, which counts Oregan State University as one of its foundation partners, has now raised $90m in external fundraising. Current investors OpenView Venture Partners and Epic Ventures were joined by Insight Venture Partners. Utah University’s venturing unit University Venture Fund is an existing backer of Instructure, having taking part in the firms $30m series D in 2013 and its $8m series B in 2011.
The company is best known for its learning management system (LMS) Canvas, launched in 2011. Aside from providing a back office to students at schools and universities – Canvas is used by 18 million students and teachers in 1,200 universities – the platform also hosts massively open online courses (MOOCs). Canvas differentiates itself from other MOOC providers such as Coursera and…
