Galvanize acquires Hack Reactor, raises $32M Series C funding

by Joyce Famakinwa
July 20, 2018
Galvanize acquires Hack Reactor, raises $32M Series C funding
Photo via social media.

Denver-based tech workforce educator Galvanize announced on Thursday that it will acquire coding boot camp Hack Reactor.

“The overall excitement is what we are doing in the market of providing a roadmap for people into the digital economy and addressing the need for more technical staff,” Galvanize CEO Al Rosabal said in a statement to Built In Colorado.

Galvanize is a tech learning community for students and entrepreneurs, with nine campuses across the U.S. This deal expands the company’s west coast footprint, allows the company to provide more product offerings and creates one of the largest independent accelerated learning providers.

[Galvanize] was and continues to be a hub for entrepreneurs, startups and established companies to act collaboratively and form our tech ecosystem.”

“Galvanize has been a seminal part of Colorado for a long time. It was and continues to be a hub for entrepreneurs, startups and established companies to act collaboratively and form our tech ecosystem,” Rosabal said.

“If you take these two strong brands — the strength of Hack Reactor in the software engineering side and combine it with our strength in software engineering curriculum, data science and the communities we have on our campuses — it puts us at a whole different level of product offering,” he continued.

The financial terms of the deal were not disclosed. Hack Reactor will move to Galvanize’s San Francisco, Austin and New York campuses. Both companies will continue operating under their current brands.

In addition to the acquisition announcement, Galvanize revealed that it had closed a $32 million Series C funding round led by growth equity firm Catalyst Investors. New Markets Venture Partners, The Colorado Impact Fund, ABS Capital Partners and University Ventures also participated in the round.

“A portion of the raised capital will go toward the acquisition. The rest of it is strategic growth capital that will help us execute on the delivery of our education programs and focus on the enterprise market,” Rosabal said.

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