wonderfully unique software solutions

Instructure follows Concentric Sky buy with double-digit Q1 growth

Canvas Learning Management System vendor Instructure has announced revenue growth of 21% for its first quarter ending 31 March 2022.

Steve Daly, chief executive officer at the US-based edtech firm, said that Canvas continues to displace legacy learning management system (LMS) solutions worldwide.

Although Instructure made a $3.7 million loss for the quarter overall, revenues were up 21% to $113.5m (£90.4m) year on year — or 26% if the figure was adjusted for its $50m sale of the Bridge LMS.

“Our Instructure Learning Platform strategy gained further traction during the quarter, with especially strong growth across our assessments portfolio,” Daly said.

“In April, we announced the acquisition of Concentric Sky, whose Badgr technology serves as the default micro-credentialling tool within Canvas LMS.”

Badgr’s stackable digital credentialling technology enables learners to demonstrate to potential employers their skills and achievements from over 25,000 organisations in 160 countries, the company said.

Rebranded as Canvas Badges and Canvas Credentials, the Badgr offerings are expected to advance Instructure’s strategy to address a “non-traditional online market opportunity” that could be worth a total $5 billion.

Among assorted wins in the K-12 and higher education categories worldwide, all 23 California State University institutions use Infrastructure, including Canvas LMS as well as Instructure Learning Platform offerings such as Studio, Impact and Pathways, the company said.

Instructure forecasts full-year 2022 revenues to reach $460.9m to $464.9m.

In the UK, Instructure is targeting schools, including higher and further education, through channel partners — with a stated aim of “making teaching and learning easier for everyone”.

The cloud-native Canvas platform integrates with popular education applications to help institutions create a tailored online learning environment, according to Instructure.

( Logo Copyright © 2022 Instructure, Inc. All Rights Reserved )

Recent Articles

Many may quit if employers halt hybrid working, says AnyDesk

A survey by AnyDesk has suggested that working remotely or at least in a hybrid environment has become so popular that many...

Why sovereignty matters in converged industrial operations tech

Retaining digital independence is the best way to enable an autonomous response with regard to cyber incidents that strike at industrial production,...

Paessler partners Rittal on IT and OT monitoring convergence

Germany-based Paessler and Rittal are combining their Paessler PRTG and Rittal CMC III monitoring offerings as part of their Paessler Uptime Alliance...

TechSmith introduces Camtasia 2022 for faster, enhanced video creation

Corporate content producers will enjoy new features in Camtasia 2022 set to speed up and enhance video editing and creation, according to...

Road to the top for Manchester United with TeamViewer Tensor

One of the world's most famous football teams, Manchester United, relies on enterprise-grade remote connectivity from TeamViewer for ensuring access to critical...

Related Stories

Leave A Reply

Please enter your comment!
Please enter your name here

Weirdware monthly - Get the latest news in your inbox