Companies‎ > ‎US Research‎ > ‎

Instructure (Nasdaq: INST) | Company Profile, History, Competitors

 

Instructure (NASDAQ: INST) provides a cloud-based learning management solution (LMS) for K-12 schools, universities and corporations. As of 2017, Instructure has 3,000 customers in 60 countries. It was founded in 2008 and headquartered in Salt Lake City, UT.

Instructure was founded in 2008 by Brian Whitmer and Delvin Daley, two graduate students at Brigham Young University. Instructure provides learning management software to education institutions. The software helps institutions communicate with students, deliver online courses, and performance assessment. In 2017, Instructure introduced its second set of solutions for corporations to deliver learning and employee development.

Business Model

Instructure provides cloud-based software to make it easier for educational institutions and corporations to manage face-to-face and online learning experiences. The software is hosted on the cloud on Amazon AWS.

Instructure sells the following software:
  • Canvas The company's flagship LMS product that enables instructors and students to communicate, collaborate and deliver assignments.
  • Canvas Network Enables educational institutions to deliver open courses online.
  • Canvas Catalog Provides educational institutions with an online white-label course catalog and registration system to maintain their online course offerings.
  • Bridge Learn Enables corporate customers to deliver learning and employee development courses.
  • Bridge Performance Enables corporate customers to manage and evaluate employee performance vs. online feedback tools and performance reporting.
  • Arc Video platform for instructors to enable real-time
  • Gauge Performance assessment tool for K-12 schools to administer tests in a digital format

Pricing

Instructure offers a SaaS pricing model that is based on per user. Contract lengths are between one to five years and billed one year in advance on an annual basis.
  • Canvas K-12 Up to $10 per student/year
  • Canvas Higher Ed Up to $25 per student/year
  • Bridge Learn Up to $50 per user/year
  • Bridge Performance Up to $50 per user/year

Customers

As of 2017, Instructure had 3,000 customers from K-12, colleges and corporations.

K-12: Utah School District, Knox County Schools, North Carolina Public Schools, Pasco County Schools , Montgomery Country Public Schools

Higher Education: Utah Education Network, University of Michigan, University of Texas at Austin, University of Minnesota, University of Central Flordia, Harvard University, Stanford University, Brown University, London Business School, City University of Hong Kong

Corporations: Tesla, Timex Group, CareerBuilder, McKesson, Starz

Competitors

Instructure's main competitor in educational LMS is Blackboard. Historically, Blackboard offered an LMS solution that was on-premise/hosted. Blackboard has released a SaaS offering but it is not as feature-rich as the on-premise version. There are also free, open-sourced solutions like Moodle.

Instructure's main competitors in commercial LMS are SumTotal (owned by Skilsoft), SuccessFactors (owned by SAP), Saba and Cornerstone onDemand.

History

The company was founded in 2008 by Brian Whitmer and Delvin Daley, two graduate students at Brigham Young University.

In 2010, the Utah Education Network announced that Instructure would be their preferred LMS. In 2011, Instructure launched its flagship LMS product, Canvas, to the higher-education market under an AGPL open-source license. In 2012, Instructure launched their Canvas K-12 product. 

In 2015, Instructure expanded into the commercial market by launching its corporate LMS solution, Bridge Learn.

In 2015, the company went public.

In 2017, Instructure introduced their second solution to the commercial market called Bridge Perform, an application to track employee performance.

Management

Joshua Coates (CEO): Joshua Coates serves as CEO since 2010. Prior, he founded Berkeley Data Systems and sold it to EMC. He also founded Scale Eight.

Steven Kaminsky (CFO): Steven Kaminsky serves as CFO since 2012. Prior, he served as CFO at Radisphere National Radiology, a provider of software for radiology. He had also worked as an accountant at McDonalds, Trizetto Group and Ernest & Young LLP.

Financials

 $ USD in millions    2013    2014 2015 2016 2017
 Revenues $26 
$44 
$73 
$111 
$159 
 Gross Profit $15 
$29 
 $49 
 $78 
 $112 
 Operating Profit($22)
($39)($52)($53)($51)
 Net Income($23)($41)($54)($54)($50
 EPS-
($3.02)
($6.07)($1.92)($1.69)

References


Instructure, Inc.
 
  Ticker     NASDAQ; INST
  Industry Technology
  Founded 2008
  Headquarters Salt Lake City, UT
  Customers 3,000 (2017)
  Revenues
$159mm (2017)
  Employees 1,140 (2017)
  Website instructure.com