Education technology company Instructure has raised a big new round on its way to an initial public offering later this year, according to several sources familiar with the company’s plans.
We’ve heard rumors from multiple sources that the cloud-based K-12 and higher education platform is raising between $50 to $70 million in Series E funding, while one source put the low end of the range at over $40 million.
The maker of the Canvas learning management system and the Canvas network MOOC platform has taken on the online education tech giant Blackboard since its launch in 2011. Both Blackboard and Canvas offer online educational platforms for the scholastic set.
Blackboard, which launched in 1997, still claims to have the corner on the virtual learning market serving just over half
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