PLEASANT GROVE — Utah learning-management software company Instructure engaged in a festival of 10s on Wednesday, celebrating both its 10-year anniversary and cutting the ribbon on its 10th office location.
The company, best-known for its cloud-based Canvas platform that connects and streamlines interactions between students and instructors, employs more than 1,100 in Utah and around the world and will be able to accommodate 400 employees in its new facility.
In a statement, Jeff Weber, Instructure's senior vice president of people and places, said the company remains as committed to Utah now as it did when first launching in 2008.
"Utah has been our home base for 10 years and continues to provide us with the right atmosphere for growth," Weber said. "We value the smart talent pool that allows us to scale quickly and continue to build our culture of awesome innovators who are passionate about helping people maximize their potential in classrooms and in companies. The company benefits from strengthening our roots in Utah County, and the employees in our new office will thrive in this creative, productive space that accommodates our growing team."
Instructure was founded by two BYU computer science graduate students, Brian Whitmer and Devlin Daley, who began developing Canvas while still in school. The company earned the attention of outside investors soon after forming and, before going public in late 2015, had attracted almost $90 million in venture capital.
Canvas is a platform in wide use both in the U.S. and around the world. All of Utah's higher education institutions employ Canvas as well as 90 percent of the state's K-12 school districts. In a blog post featuring feedback from Utah teachers using Canvas, Mount Logan Middle School technology teacher Dave Anderson said the platform was key to managing his large group of students.
"Try to differentiate assignments for 180 students, allow them to work at their own pace, measure and report student progress every day, maintain individual portfolios and then help students individually," Anderson said. "Impossible? No. I use Canvas."
Since becoming a publicly traded company, Instructure has continued to thrive and expand. While the company's initial stock price near the end of 2015 was about $18 per share, its stock closed regular trading Wednesday at $45.15 per share with a market capitalization of over $1.5 billion.Comment on this story
Governor's Office of Economic Development Executive Director Val Hale, who attended the ribbon-cutting for Instructure's new office Wednesday, lauded the company's success in a statement.
"Entrepreneurism and business (are) thriving in Utah," Hale said. "Instructure is a true success story of a local startup that has grown to become a global and industry leader. We're excited for their success and confident their new offices in Pleasant Grove will be a tremendous benefit to our state as they continue to grow and innovate."