In 1997, Claude Laflamme and Keith Nicholson, Professors in the Department of Mathematics and Statistics at the University of Calgary, began work on the design of online tools to support student learning in their classes.

Laflamme and Nicholson developed and implemented a formative assessment system which provided immediate, substantive feedback to students based on their work.

In 2000, Laflamme and Nicholson, together with two software developers, Bruce Bauslaugh and Richard Cannings, formed Lyryx Learning Inc., to offer this platform in a number of quantitative disciplines.

To support the use of OERs in undergraduate introductory courses in Mathematics & Statistics and Business & Economics, Lyryx had moved to a social enterprise business model: Funding from the online homework supported both the development and maintenance of OERs as well as contributions to the community.

Lyryx Learning was a 2019 winner of "Outstanding Achievement in Information and Communications Technology" as part of the 30th Annual ASTech Awards.