Instructure Raises $40 Million In Series E Funding

By Annie Baker ● Feb 24, 2015

Instructure is a software-as-a-service technology company that is known for creating the Canvas learning management system. Instructure has recently raised $40 million in Series E funding.

This pre-IPO investment was led by Bessemer Venture Partners and participation from EPIC Ventures. Instructure has now raised a total venture backing of $90 million.

“This funding allows us to continue to innovate in education while simultaneously expanding to the learning portion of human capital management market,” said Instructure CEO Josh Coates. “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.”

With this investment, Instructure will finance the launch of a cloud-based corporate learning and engagement platform called Bridge. And the funding will enable Instructure to invest in its flagship product Canvas. The Canvas LMS is now being used by 18 million students and teachers from more than 1,200 universities, colleges, and K-12 school districts.