Instructure Crosses $1B Market Cap, Launches Bridge Perform
“More great software, more happy customers, more happy employees, and happy investors.”
Earlier this month Instructure hit a market cap of $1,ooo,ooo,ooo marking a significant milestone for Utah and its thriving entrepreneur community.
In 2008, Instructure cofounders Devin Daley and Brian Whitmer enrolled in Josh Coates’ “Intro to Venture Startups” class that he was teaching as a volunteer adjunct instructor in BYU’s Computer Science department. Coates, who had previously founded Mozy (sold to EMC Corp in 2007), became the first investor in Instructure, then later the company’s CEO in 2010.
In 2011, Instructure launched Canvas, a cloud-based Learning Management System, which soon became the standard learning platform for Harvard, Stanford, Berkeley, Wharton, and campuses all over the world.
In 2015, Instructure launched Bridge, a corporate learning platform used to train employees of companies like Tesla, Shopify, and Slack. The company went public in 2015 on the New York Stock Exchange and now has a valuation of a cool $1B.
“The $1 billion market cap is a milestone on a steady path towards continued growth and success in the market,” says CEO Josh Coates. “We’re proud of our success as a public company, with year-over-year growth, as well as our continued growth in multiple learning markets: K-12, higher education, and corporate.”
Just a couple of weeks ago Instructure released Bridge Perform, a performance management tool and the newest addition to the Bridge platform. Bridge Perform provides a platform for facilitating regular and more meaningful manager-employee interactions, tracking individual goals, accomplishments and milestones, and capturing valuable peer assessments, creating a holistic picture of employee performance over time. Additionally, Bridge Perform provides business leadership and HR teams with the critical data and insights required to effectively manage employee performance and development, at an individual level, across large organizations.
When asked what we can expect from Instructure in the coming years, Coates says, “More great software, more happy customers, more happy employees, and happy investors.”