Existing investors including EPIC Ventures and TomorrowVentures also backed the round, which takes the total funds raised by the company to $50m.
Following the launch of Canvas in 2011, the company has attracted six million teachers and students to its cloud platform and secured more than $90m in contracts.
In November last year Instructure introduced Canvas Network to allow customers to make their courses open to the public and to experiment with a variety of class sizes and teaching styles.
Bessemer, which currently has $4bn under management, has floated more that 100 compared on various stock exchanges around the world.
Last month the firm led a $45m round for cloud-based business analytics specialist Adaptive Planning.
Copyright © 2013 AltAssets