Parchment Expands Unified Inbox Partner Program with Xello to Enable More Learners to Securely Share Admissions Documents

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Mar 14, 2024, 12:00 ET

Xello Now Connects to Parchment's Largest College Receiving Network in the World

SALT LAKE CITY, March 14, 2024 /PRNewswire/ -- Today Parchment, an Instructure company, the industry leader in academic credentials management, announced a partnership with Xello, the award-winning K-12 college and career readiness program, to securely deliver students' college application documents to higher education institutions and organizations using Parchment's widely adopted credential inbox, Parchment Receive. The partnership brings Parchment's national network of higher education admissions offices to thousands of high schools using Xello's K-12 online program, which will make the process of sending and receiving official documents faster and more secure.

This partnership enables Parchment's network of over 5.5K admissions offices to receive verified academic credentials electronically and securely sent through Xello's college and career readiness platform in Parchment Receive. Parchment Receive is the most widely adopted document inbox higher education admissions offices use to collect all electronic application documents sent from the Parchment Award platform and its Unified Inbox Partnership network.

K-12 counselors, higher ed admissions offices, and learners will all see benefits from a seamless integration between Parchment and Xello, including:

For K-12 counselors and administrators:

Enables schools using Xello's college and career readiness platform to securely deliver students' college application documents to 5.5K higher education admissions offices
Gives administrators using the Xello platform the confidence that their student's admissions documents are being transferred in the most efficient manner and in the way college admissions offices prefer

For higher education admissions offices:

Have a single place to receive, filter, automatically route, and reference document history from the largest sending network in the country
Make the admissions process faster, simpler, and more secure for students and their institutions
Know that every document received meets compliance requirements for transmitting student data

"Parchment's mission is to turn credentials into opportunities and partnering with Xello to let learners easily transmit their application documents through the Xello platform helps to realize that mission," said Kevin Martin, Vice President, Parchment Growth at Instructure. "The Parchment Unified Inbox Program allows us to extend our trusted network of higher ed admissions offices beyond the Parchment Award platform to help empower more learners, and that's a win for everyone involved."

"Creating a seamless post-secondary planning experience for students and the educators supporting them is a top priority for our platform," said Matt McQuillen, CEO and Co-Founder of Xello. "The integration with Parchment's vast network of educational institutions highlights our commitment to providing high-quality, reliable services that help both students and educators navigate this critical process successfully."

For more information, visit parchment.com and xello.world.

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 Ecosystem, comprised of its flagship product Canvas LMS and several products serving K-12 and higher education, supports tens of millions of educators and students around the world. Learn more at www.instructure.com.

Parchment, an Instructure company, believes credentials matter in the lifelong journey of a learner. Offering the most comprehensive academic credential management platform and network, Parchment helps learners, academic institutions and employers request, verify and share transcripts, diplomas, and other credentials in simple and secure ways. Learn more at www.parchment.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 expectations and benefits of the acquisition of Parchment, the combined company's growth, customer demand and application adoption, and business strategy.

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 following: the ability to timely and successfully achieve the anticipated benefits and potential synergies of the acquisition of Parchment; the impact of the announcement of the closing of the transaction on our business, employees and suppliers, and on our investors and common stock; risks associated with the continued economic uncertainty, including high inflation, labor shortages, high interest rates, foreign currency exchange volatility, and reduced spending by customers; failure to continue our recent growth rates; the impact of the Israel-Hamas war on the macroeconomic and geopolitical environment and on our business; risks associated with future stimulus packages approved by the U.S. federal government; our ability to acquire new customers and successfully retain existing customers; the effects of increased usage of, or interruptions or performance problems associated with, our learning platform; the impact on our business and prospects from pandemics; our history of losses and expectation that we will not be profitable for the foreseeable future; the impact of adverse general and industry-specific economic and market conditions; failure to manage our growth effectively; and changes in the spending policies or budget priorities for government funding of Higher Education and K-12 institutions.

These and other important risk factors are described more fully in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Report on Form 10-Q and other documents filed with the Securities and Exchange Commission 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.

SOURCE Parchment, an Instructure company