Coding Bootcamp Acquisition: Galvanize Buys Hack Reactor
Galvanize serves students, corporate customers, and co-working tenants in seven U.S. cities, while Hack Reactor operates from its base in San Francisco as well as New York and Austin.
Both companies offer multi-week courses in a variety of technology skills from web development to data science. Interestingly, a number of for-profit coding academies have closed or merged over the past year. Just last year, Dev Bootcamp and The Iron Yard closed. Both were considered pioneers in the sector.
Programming Schools: Mergers, Acquisitions
The coding school and programmer training markets are ripe with M&A activity. As Reuters points out, in April Adecco acquired General Assembly for a reported $412.5 million. Galvanize itself, which was founded in 2012, recently secured a $32 million funding found led by Catalyst Investors. Prior to that, the school had raised around $70 million in funding while Hack Reactor had raised $1 million from friends and family, as Reuters reports.
Hack Reactor was also founded in 2012 with the idea of creating an immersive learning experience. According to the company’s website, the first class had 16 students. At the time of the acquisition, the company claims more than 3,000 alumni.
“From the beginning, we saw a clear compatibility through a shared passion for innovative, high quality instruction combined with measurable outcomes and we are thrilled to welcome the Hack Reactor team to the Galvanize family,” said Galvanize CEO, Al Rosabal. “This combination continues to position Galvanize as one of the largest, fastest-growing and highest quality immersive technology education providers focused on delivering extraordinary outcomes for students, members, and enterprise partners.”
According to the company, Hack Reactor will continue to operate its respected programs under the Hack Reactor @ Galvanize™ brand. Hack Reactor plans to move onto Galvanize’s campuses in San Francisco, New York, and Austin.
According to Hack Reactor CEO, Harsh Patel, the school was looking to be bought out when it found Galvanize. “This deal ensures we continue delivering the best possible education to the students and create vibrant community destinations – on campuses and online – that connect entrepreneurs, alumni, enterprise partners and students,” he said.
There was no word on how or if leadership roles will change within either organization.