Instructure Raises $8 Million Series B Round of Funding
Instructure has raised $8 million in Series B funding from OpenView Venture Partners, EPIC Ventures, Eric Schmidt’s venture capital company Tomorrow Ventures, and Tim Draper. Instructure raised a total of $9.2 million. Instructure’s software called Canvas includes assessment tools, discussions, web chat, multiple assignment submission types, drag-and-drop file uploads, HTML5 video, and speech-to-text conversion.
Instructure has Google Docs and Facebook integration and is installed on 30 educational institutions. The company is led by Mozy founder Josh Coates. Mozy was sold to EMC for $76 million in 2007.