So we've closed some funding. It's just one milestone in the journey, but it's an important one. It's the critical fuel we need to grow the business to a point where it's strong and self-sustaining.
Our investors are serious professionals that have spent literally hundreds of hours doing research, talking to customers, competitors, analysts and crunching the numbers to figure out if Instructure has what it takes to really change the market. Openview Ventures invests in growth companies, not startups, so why did they invest in us? We're a startup, right?
Well, yes and no. Instructure is three years old now, which is relatively young, but the rate at which we are growing our customer base is evidence that we have obtained a very real foothold in the market, and the next step is to build out the support and sales team while continuing to perfect the product.
So what does this mean to the market? Well, to our customers it means that they can be a lot less concerned about our financial stability. To our competitors it means that we aren't going away and that they will need to start to lead, follow or get out of the way. ;-)