University Ventures portfolio company Galvanize, which provides software engineering and data science courses, has been bought by online education platform K12 after raising $96m in funding.
Galvanize, a US-based tech education and workspace provider backed by investment firm University Ventures, has been acquired by online education platform K12 for about $165m in cash.
Founded in 2012, Galvanize runs eight campuses in the US providing software engineering and data science courses aimed at both students and entrepreneurs.
The company also offers online bootcamps on a full-time and part-time basis. Both education options are pitched as providing skillsets required for the digital economy.
K12 expects Galvanize to enhance its adult-focused skills training and talent development, especially in skillsets aligned with Fortune 500 companies. It will absorb Galvanize’s campuses and management, as well as its brand, alumni network and educational content.
Galvanize had raised a total of $96m in funding prior to the acquisition.
University Ventures invested in the company’s $32m series C round in 2018 alongside Catalyst Investors, which led the round, New Markets Venture Partners, ABS Capital Partners and Colorado Impact Fund.
The funding followed a $950,000 equity round backed by undisclosed investors in 2017, according to a securities filing. Reuters reported the sum came from friends and family of Galvanize’s founding team.
University Ventures also featured in Galvanize’s $45m series B round in 2016, investing alongside Colorado Impact, Haystack Partners, Aspen Grove Partners and private investor Greg Maffei, having previously led an $18m series A round in 2014.
