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Instructure

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Instructure, Inc.
Company typePrivate
NYSE: INST
IndustryEducational Technology
Learning Management Systems
Assessment Management Systems
Assessment
Founded2008; 17 years ago (2008)
FounderBrian Whitmer and Devlin Daley
Headquarters
Salt Lake City, Utah
,
United States
Number of locations
7
Area served
Worldwide
Key people
  • Steve Daly
  • (CEO)
ProductsCanvas, Catalog, Studio, Portfolium, MasteryConnect, Videri, CASE Benchmarks and Item Bank, Navigate Item Bank, Academic Benchmarks, Certify, DataConnect, Program Assessment, Pathways, Canvas for Corporate Education
Revenue$475.2 million (2022)[1]
Number of employees
1,466 (2022)[2]
Websiteinstructure.com
Canvas
Developer(s)Instructure
Written inRuby on Rails
LicenseAGPLv3
Websitehttps://www.instructure.com/canvas

Instructure Holdings, Inc. is an educational technology company based in Salt Lake City, Utah, United States. It is the developer and publisher of Canvas, a web-based learning management system (LMS).

History

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The company was founded in 2008 by two BYU graduate students, Brian Whitmer and Devlin Daley.[3] Its initial funding came from Mozy founder Josh Coates, who served as Instructure's CEO from 2010 to 2018 and chairman of the board through 2020.[4]

In December 2010, the Utah Education Network (UEN), a representative of a number of Utah colleges and universities, announced that Instructure would be replacing Blackboard.[5] By 2013, the company's customer base had increased to 9 million users.[6]

In 2011, Instructure launched Canvas, a learning management system.[7] The company announced that Canvas would be made freely available under an Affero General Public License (AGPL) license as open-source software.[8][9][10] Canvas became available on iOS in 2011, and on Android in 2013.[11] As of 2020, Canvas was used in approximately 4,000 institutions worldwide.[12]

In 2015, Instructure launched Bridge, a cloud-based corporate learning management system.[13] It was acquired by Learning Technologies Group (LTG) in 2021.[14]

As of 2015, the company had raised $90 million in funding from investors.[15] On November 13, 2015, the firm began trading as a publicly held company on the New York Stock Exchange.[16]

In 2020, Thoma Bravo acquired the company for $2 billion.[17] In June 2021, Instructure again filed for an IPO,[18] and began trading under the symbol INST.[19]

In 2024, it was announced that KKR and Dragoneer had completed their purchase of the company for $4.8 billion.[20]

In 2024, Instructure announced the acquisition of Parchment, a credential management platform.[21]

See also

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References

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  1. ^ "Instructure Company Profile". Craft. Retrieved September 8, 2023.
  2. ^ "Instructure 2022 Annual Report" (PDF). Retrieved March 6, 2024.
  3. ^ Kim, Joshua. "An Instructure Canvas LMS Timeline". www.insidehighered.com. Retrieved 2025-03-17.
  4. ^ Neely, Karissa. "Instructure CEO change, Survey shows affordable housing concern, Powerful U Experience event". The Daily Herald. Archived from the original on 31 October 2018. Retrieved 25 January 2019.
  5. ^ "New Statewide Learning Management System Selected". UEN News. Utah Education Network. December 14, 2010. Retrieved June 14, 2017.
  6. ^ Empson, Rip (November 2012). "With 4.5M Users, Instructure Takes On The Courseras & Udacities Of The World With Its Own Open Course Network". TechCrunch.
  7. ^ Tate, Emily (2018-07-16). "How Canvas came to unseat Blackboard as the leading LMS". EdScoop. Retrieved 2025-03-17.
  8. ^ Michael Arrington (January 31, 2011). "Instructure Launches To Root Blackboard Out Of Universities". TechCrunch.com. Interserve dba TechCrunch. Retrieved February 22, 2011.
  9. ^ Josh Keller (January 31, 2011). "Upstart Course-Management Provider Goes Open Source". Wired Campus. The Chronicle of Higher Education. Retrieved February 22, 2011.
  10. ^ Christopher Dawson (February 1, 2011). "There are alternatives to Blackboard and Moodle: Instructure Canvas goes open source". ZDNet Education. CBS Interactive. Archived from the original on February 4, 2011. Retrieved February 22, 2011.
  11. ^ "Instructure Releases Canvas for Android". canvaslms. Archived from the original on 8 February 2018. Retrieved 7 February 2018.
  12. ^ "Why Colleges and Universities Are Adopting Canvas". eLearningInside News. 2018-10-24. Retrieved 2020-09-02.
  13. ^ Buhr, Sarah (2015-02-18). "On The Way To An IPO, Education Technology Startup Instructure Is Close To Raising A Big New Round". TechCrunch.
  14. ^ "Behind the Deal: Why LTG acquired Bridge". Learning Technologies Group plc. 2021-06-28. Retrieved 2022-08-20.
  15. ^ Locke, Charley (2015-02-24). "Instructure Plots Path to IPO, Corporate Customers After $40M Series E". Edsurge.
  16. ^ Schaffler, Rhonda (2015-11-13). "Instructure IPO Debuts on NYSE With Double-Digit Gain". TheStreet.
  17. ^ "Instructure files for U.S. IPO after 2020 take-private deal with Thoma Bravo". Reuters. Archived from the original on 2023-04-24. Retrieved 2025-03-17.
  18. ^ Bamforth, Emily (28 June 2021). "Instructure, creator of Canvas, files for initial public offering". edscoop.com. Scoop News Group. Retrieved 14 July 2021.
  19. ^ Saleh Rauf, David (4 July 2021). "Another Education Company Goes Public: Instructure IPO Gives Ed-Tech Firm $2.9 Billion Valuation". marketbrief.edweek.org. Retrieved 24 January 2023.
  20. ^ "KKR and Dragoneer complete $4.8bn take-private acquisition of edtech firm Instructure". PE Hub. Retrieved 2024-11-21.
  21. ^ "KKR to take edu-tech firm Instructure private for $4.8 billion". Reuters. July 25, 2024.
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