Software-as-a-service firm Instructure has raised $40m in a Series E funding round.
The pre-IPO investment is led by Insight Venture Partners with Bessemer Venture Partners and EPIC Ventures participating.
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.
Josh Coates, CEO at Instructure, said:
“This funding allows us to continue to innovate in education while simultaneously expanding to the learning portion of human capital management market.
“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.”
The investment brings Instructure’s total venture backing to more than £89m.
Current investors include Bessemer Venture Partners, EPIC Ventures, Insight Ventures and OpenView Venture Partners.