With Eye Toward IPO, Instructure Raises $40M

This funding allows us to continue to innovate in education while simultaneously expanding to the learning portion of human capital management market.

Instructure, the Utah-based software-as-a-service (SaaS) company behind the Canvas learning management system, has raised $40 million in a Series E round of funding. The investment, which the company is describing as a “pre-IPO investment” was led by Insight Venture Partners with Bessemer Venture Partners and EPIC Ventures participating.

In a blog post, the company said the “investment will finance the launch of Bridge, a cloud-based corporate learning and engagement platform that signals Instructure’s expansion into the learning segment of the enterprise market.”

“This funding allows us to continue to innovate in education while simultaneously expanding to the learning portion of human capital management market,” said Josh Coates, CEO at Instructure. “We believe Bridge makes it easier for businesses to improve employee engagement and learning, just as Canvas made it easier for educators to improve teaching and learning.”

Published 2/19/2015