Ed Tech Company Instructure Acquires Video Learning Specialist Practice
The deal adds to the Utah-based company's growing portfolio of products.
Instructure announced on Nov. 28 that the company acquired Practice, a Philadelphia-based company that specializes in peer-to-peer video coaching and assessment. Terms of the deal were not immediately available.
“This acquisition reflects our ongoing commitment to provide our customers with experiences that make it easy to learn and improve,” said Mitch Benson, Instructure senior vice president of product in a press release. “When people are engaged and have a way to receive actionable, open feedback and coaching, their competency and confidence levels increase.”
Salt Lake City-based Instructure’s products include Bridge, a software-as-a-service learning management system for corporate learning, as well as Canvas in the K-12 and higher education market and Arc, a video learning product.
The company was founded in 2008 by two graduate students from Brigham Young University and began trading shares on the New York Stock Exchange in 2015. Instructure reported revenue of $42.9 million in the third quarter 0f 2017, an increase of 43 percent from the prior year.
Founded in 2011, Practice employs 22 people with offices in Philadelphia and San Francisco. Clients include Comcast, Cox Automotive, Domino’s Pizza and UCSF Medical School.
“Six years ago, when we started Practice (then known as ApprenNet), there was one company in the education technology space that we looked at to model ourselves after,” said Emily Foote, Practice co-founder and chief client officer, in a blog post on the company’s website.
“That company was Instructure, the makers of Canvas, Bridge, Arc, and Gauge. Today, we are beyond excited to announce that we are now part of the company that we always strived to model ourselves after.”