Another bootcamp has been gobbled up by an education technology company looking to break into the corporate learning and career readiness market. This time, publicly traded virtual schooling and education management provider K12 paid $165 million in cash to buy Denver-based coding bootcamp Galvanize.
For K12, the deal means more coding curriculum for students of its Destinations Career Academies, which offer high school and career training program hybrids. Those academies have served more than 13,000 students nationwide, representing 11 percent of enrollment across all of K12’s businesses, according to a report from investment bank Barrington Research.
It also marks a dramatic expansion beyond its flagship business that once centered on operating and managing online schools for K-12 districts.
For Galvanize—which also owns fellow bootcamp Hack Reactor—the deal means new funding to grow its corporate learning business, open more physical locations and even expand its services to the military. “For the first six months, we’re going to let them spend money to get these revenue opportunities going,” K12 CEO Nate Davis said on an earnings call Monday.