Acquisitions / Coding / Funding / Venture capital

A pair of Maryland VCs invested in the latest big coding school deal

New Markets Venture Partners and ABS Capital Partners invested in a $32M round for Denver-based Galvanize, which also acquired another coding school.

Inside a Galvanize space. (Photo by Flickr user Andrew Hyde, used under a Creative Commons license.)

Two Maryland firms were among the investors that backed a Denver-based coding school’s $32 million funding round that was announced at the same time as an acquisition deal.
Galvanize announced the Series C funding round, led by Catalyst Investors, last week. Among the participating investors were a pair of local VCs: Fulton-based New Markets Venture Partners and Baltimore-based ABS Capital Partners.
The deal comes a couple of months after New Markets Venture Partners closed a $68 million venture fund focused on education ventures.
For its part, downtown private equity firm ABS Capital Partners was an existing investor in Galvanize.

At the same time as the funding announcement, Galvanize said it acquired San Francisco–based Hack Reactor.
According to Reuters, the move will combine operations for the two companies in San Francisco, New York and Austin, where Hack Reactor has campuses. Galvanize is in a total of seven cities, and is also adding Hack Reactor’s campus in Los Angeles with the deal.
The merger is another sign of consolidation in the coding education space. Last year, coding schools with a national presence including Dev Bootcamp and The Iron Yard shut down. Meanwhile, the New York–based Flatiron School was acquired by WeWork, and expanded to D.C.
For its part, Galvanize is making a bet on getting bigger.
“We believe we have the team and the assets to be the leader in technology boot camps for individual students and corporations,” Galvanize CEO Al Rosabal told Reuters.

Before you go...

Please consider supporting to keep our independent journalism strong. Unlike most business-focused media outlets, we don’t have a paywall. Instead, we count on your personal and organizational support.

Our services Preferred partners The journalism fund

Join our growing Slack community

Join 5,000 tech professionals and entrepreneurs in our community Slack today!


How to encourage more healthcare entrepreneurship (and why that matters)

Find out what type of heat wave you’re really in for with NOAA’s HeatRisk dashboard

How AI can revolutionize education's quest for truth

Baltimore Money Moves: Howard County cyber company lands $150M Series D

Technically Media