Instructure Acquires Concentric Sky, Makers of Badgr, Adding Stackable Digital Credentialing Technology to the Instructure Learning Platform

Rhea-AI Summary

Instructure Holdings, Inc. (NYSE: INST) has completed the acquisition of Concentric Sky, known for its micro-credentialing tool, Badgr. Following the acquisition, Badgr will be rebranded as "Canvas Badges," which will become part of the integrated Instructure Learning Platform. This move enhances Canvas LMS by offering new capabilities, including unlimited badging and analytics through the new "Canvas Credentials" service. The acquisition reflects Instructure's commitment to cater to evolving educational needs and underscores the rise of skills-based learning in higher education.

Positive

• Acquisition of Concentric Sky enhances Canvas LMS with advanced digital credentialing.
• New Canvas Credentials service includes unlimited badging and analytics, improving user experience.
• Acquisition aligns with growing demand for skills-based learning and career readiness.

Negative

• None.

Badgr to become "Canvas Badges" tool, with new "Canvas Credentials" offering more advanced functionality as paid service

SALT LAKE CITY, April 14, 2022 /PRNewswire/ -- Instructure Holdings, Inc. (Instructure) (NYSE: INST) today announced it has completed the acquisition of partner Concentric Sky, the makers of Badgr. Currently the default micro-credentialing tool within Canvas LMS, Badgr will be rebranded as "Canvas Badges" as it joins the Instructure Learning Platform. Canvas LMS customers can also upgrade to Badgr Pro's advanced suite of tools in new "Canvas Credentials," offering unlimited badging, leaderboards, analytics and personalized pathway progress visualizations. The deal underscores Instructure's commitment to building the education industry's most integrated teaching and learning platform to support lifelong learning.

"We know colleges and universities are seeking innovative new ways to support non-traditional learners and that those students want greater agency to demonstrate skills and achievements to potential employers," said Steve Daly, CEO of Instructure. "With Badgr, the Concentric Sky team has developed the gold standard for verifiable, skill-aligned micro-credentials, fast becoming the currency between learning outcomes and employment opportunities. This deal enables us to continue to expand the Instructure Learning Platform to support the evolving needs of all types of educational institutions and the diverse student populations they serve."

According to Instructure's 2021 State of Student Success and Engagement in Higher Education survey, preparing students for post-graduate careers is the #1 concern, however, administrators and students agree that this is where institutions struggle most. 84% of respondents defined student success as work/career readiness, a rise from 78% in 2020. Skills-based learning also emerged as a priority, with 70% of respondents saying that having definable skills is more important than course titles or a degree.

Whether as part of K12, a traditional undergraduate program or non-traditional programs like certificates and boot camps, Canvas Credentials allows schools to seamlessly award badges that verify and track academic achievements, including competency-based education (CBE). Canvas Credentials is the leading credentialing platform with stackable learning pathways and shareable learner records. By incorporating Canvas Credentials' stackable digital credentialing technology, Instructure empowers schools to help students navigate personalized learning journeys and enables them to carry proof of their academic achievements and skills development throughout their life.

Founded in 2005, Concentric Sky has grown to nearly 90 employees and serves millions of users by providing recognition from over 25,000 issuing organizations in 160 countries. Concentric Sky has been a long-time contributor to the field of open technology standards, joining forces with the MacArthur Foundation to lead the development of Open Badges 2.0 in 2015 and co-founding the Open Skills Network in 2020.

"From day one we've been focused on helping learning organizations connect people to opportunities and delivering a more equitable future by changing the way the world recognizes achievement," said Wayne Skipper, founder and CEO of Concentric Sky. "The power of the Instructure Learning Platform is its commitment to openness and equity, and our two companies share a fundamental belief in the importance of open technology standards for advancing equity in education. Instructure has demonstrated a strong desire to carry that work forward and I feel confident that together we can accelerate our mission to advance learning at every level." 

The Instructure Learning Platform is an open, reliable, and extensible learning ecosystem enabling a digital learning environment for educators, students, and institutions. The platform is made up of several key pillars—such as learning management, assessment, and analytics—that work together to enrich, support, and connect every aspect of teaching and learning. Canvas Badges and Canvas Credentials will be vital parts of the learning management pillar, which also includes Canvas LMS. As part of Instructure's deep commitment to openness, Canvas LMS will continue to support the seamless integration of other third-party credential management and badging solutions.

ABOUT INSTRUCTURE

Instructure (NYSE: INST) is an education technology company dedicated to elevating student success, amplifying the power of teaching, and inspiring everyone to learn together. Today the Instructure Learning Platform supports more than 30 million educators and learners around the world. Learn more at www.instructure.com.

FORWARD LOOKING STATEMENTS

This press release contains "forward-looking" statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the acquisition of Concentric Sky and its impact upon Instructure. These statements are not guarantees of future performance, but are based on management's expectations as of the date of this press release and assumptions that are inherently subject to uncertainties, risks, and changes in circumstances that are difficult to predict. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements. Important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include the risk factors described in the Instructure's initial public offering prospectus filed with the Securities and Exchange Commission (the "SEC") on July 23, 2021, and other documents filed with the SEC and could cause actual results to vary from expectations. All information provided in this press release is as of the date hereof and Instructure undertakes no duty to update this information except as required by law.

MEDIA CONTACT:
Brian Watkins
Corporate Communications
Instructure
801-610-9722
brian.watkins@instructure.com

INVESTOR CONTACT:
Denise Garcia
Alex Liloia
Hayflower Partners
646-918-4041
Investors@Instructure.com

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SOURCE Instructure Holdings, Inc.

FAQ

What does the acquisition of Concentric Sky mean for Instructure (INST)?

The acquisition enhances Instructure's Canvas LMS by integrating Badgr's digital credentialing technology, providing advanced features like unlimited badging and analytics.

When was the acquisition of Concentric Sky completed by Instructure?

The acquisition was completed on April 14, 2022.

What is the significance of Canvas Credentials in Instructure's offerings?

Canvas Credentials provides a comprehensive platform for issuing verifiable badges, supporting skills-based learning, and preparing students for career readiness.

How does the acquisition impact the user experience for Canvas LMS customers?

Canvas LMS customers will benefit from new functionalities such as personalized pathway visualizations, leaderboards, and enhanced analytics.

What are the future prospects for Instructure (INST) after acquiring Concentric Sky?

The acquisition positions Instructure to better address the needs of educational institutions, particularly in offering skills-aligned micro-credentials that enhance student employability.