With its final round of investment being led by Bessemer, Instructure has already taken a first step toward its IPO. More than 100 Bessemer companies have gone public, including Yelp and LinkedIn.
In another move signaling the company’s eventual public offering, Instructure has appointed Bessemer partner Byron Deeter to its board of directors. Deeter is a former cloud computing founder and CEO who oversaw the IPOs of software companies Eloqua and Cornerstone OnDemand.
“We feel very strongly about what value we bring to the market,” Frost said. “We feel like technology should get out of the way of education. Teachers and learners should be able to connect through technology but not be hampered by it. To do this, we need to remain independent so that’s why there is this drive to go public.”