Research


Which Coding Bootcamps Have Been Acquired & Raised Money?

By Liz Eggleston
Last Updated August 26, 2021

Since the first bootcamp acquisition in June 2014, we’ve seen several coding bootcamps get acquired by a range of companies from for-profit education companies (Capella Education), to co-working companies (WeWork), and other coding bootcamps (Thinkful + Bloc)! With rapid market growth in the bootcamp industry, for-profit education companies are taking note. These acquisitions and consolidations should come as no surprise, and some have been very successful, with schools going on to increase their number of campuses and course offerings. As coding bootcamps become more mature, we are seeing them get snapped up by more well-known companies, for increasingly large sums (e.g. General Assembly for $413 million and Trilogy Education for $750 million!) We’ll keep this chronologically-ordered list updated as bootcamps announce future acquisitions.

2021 Bootcamp Funding & Acquisitions

As of October 2021, bootcamps have already secured over $1 Billion in funding! The largest fundraises were Emeritus's $650M fundraise for university bootcamps and Product School's $25M Series A round. Bootcamp-adjacent companies like Codecademy and Blair Capital also raised an additional $158M in 2021. On top of those major fundraises, we've already seen two major acquisitions in 2021 – Brainstation acquired Wyncode in January and SNHU acquired Kenzie Academy in March. 

2020 Bootcamp Funding & Acquisitions 

Bootcamps secured ~$160,000,000 in funding throughout 2020 – the largest fundraises were Lambda School's $74M Series C and Springboard's $31M Series B. Bootcamp-adjacent companies like Coursera and Udacity also raised an additional $385M in 2020. On top of those major fundraises, we saw several major acquisitions in 2020 – for example, Stride/K-12 purchased Galvanize for $165M and Tech Elevator for $24M, and WeWork sold Flatiron School to Carrick Partners for an undisclosed amount.

Infographic: Coding Bootcamp Fundraises + Acquisitions 2017-2021

Coding bootcamp acquisitions fundraises since 2016 infographic

Timeline: Every Coding Bootcamp Acquisition Since 2014

Bootcamp

Date

Acquired By

Amount

Dev Bootcamp

June 2014

Kaplan Test Prep

Undisclosed
Zipfian Academy

November 2014

Galvanize

$10 million

MakerSquare

January 2015

ReactorCore/Hack Reactor

Undisclosed

Software Guild

 

April 2015

Learning House

Undisclosed

The Iron Yard

July 2015

Apollo Education

Undisclosed

Mobile Makers

September 2015

ReactorCore/Hack Reactor

Undisclosed

New York Code & Design Academy

January 2016

Strayer Education, Inc

~$7 million

Starter League

March 2016

Fullstack Academy

Undisclosed

Hackbright Academy

April 2016

Capella Education (now SEI)

$18 million

DevMountain

May 2016

Capella Education (now SEI)

$20 million

Bitmaker Labs

August 2016

General Assembly

Undisclosed

Flatiron School 

October 2017

WeWork

Undisclosed

Viking Code School and The Odin Project

December 2017

Thinkful

Undisclosed

General Assembly

April 2018

Adecco

$413 million

Bloc

April 2018

Thinkful

Undisclosed

MissionU

May 2018

WeWork

Undisclosed

Hack Reactor

July 2018

Galvanize

Undisclosed, though it was partially financed by a $32 million Series C round

Designation

August 2018

Flatiron School 

Undisclosed

Fullstack Academy

March 2019

Bridgepoint Education (now Zovio)

$50 million

Trilogy

April 2019

2U

$750M

Thinkful

April 2019

Chegg

$100M

SkillsFund 

June 2019

Goal Structured Solutions

Undisclosed

 SecureSet Academy

August 2019

Flatiron School

Undisclosed

Galvanize/Hack Reactor

January 2020

K12 (now Stride)

$165M

Flatiron School

June 2020

Carrick Partners

Undisclosed

Tech Elevator

November 2020

K12 (now Stride)

$24M

Wyncode Academy

February 2021

Brainstation

Undisclosed

Kenzie Academy

March 2021

Southern New Hampshire University

Undisclosed

DigitalCrafts 

August 2021 American InterContinental University System  Undisclosed

Notable Acquisitions

The First Major Acquisition: Kaplan buys Dev Bootcamp

Dev Bootcamp was acquired by Kaplan Test Prep in June 2014. As of December 8, 2017, Dev Bootcamp will no longer be operating.

Although this was the first acquisition in the coding bootcamp industry, it wasn’t Kaplan’s first foray into coding bootcamps- they launched data science bootcamp Metis in Boston and New York in early 2014. Kaplan shut Dev Bootcamp down in December 2017 but continues to operate Metis.


Multiple Acquisitions by Galvanize + Hack Reactor since 2014

Zipfian Academy was acquired by Galvanize in November 2014. Zipfian Academy was one of the first data science bootcamps in the US, and after one year of success, joined Denver-based education & coworking powerhouse Galvanize. Zipfian co-founder and CEO Ryan Orban joined the Galvanize team as EVP of Product and Strategy. 

MakerSquare was acquired by ReactorCore in January 2015. Hack Reactor reorganized in October 2015 into parent company, ReactorCore, which manages a network of schools.

Mobile Makers was acquired by ReactorCore in September 2015. ReactorCore was announced as the parent company of Hack Reactor, Hack Reactor Remote Beta, MakerSquare, and Telegraph Academy. It’s first major move was to acquire Chicago-based mobile bootcamp Mobile Makers. Mobile Makers Academy Director of Education Jessi Chartier was promoted to CEO.


Major For-Profit Education Enters the Bootcamp Space: The Iron Yard & NYCDA

The Iron Yard brought on Apollo Education as a “strategic investor” in July 2015. As of October 13, 2017, The Iron Yard is no longer operating.

New York Code & Design Academy was acquired by Strayer Education, Inc in January 2016 – it is no longer operating.

Hackbright Academy was acquired by Capella Education in April 2016 and shortly after, DevMountain was acquired by Capella Education in May 2016. Capella Education is now SEI.


Flatiron School + WeWork

Flatiron School was acquired by WeWork in October 2017. WeWork also scooped up MissionU in May 2018 and Flatiron School acquired UX design bootcamp Designation in August 2018 and cybersecurity bootcamp SecureSet Academy in August 2019.

Facing all sorts of financial obstacles in 2020, and as WeWork started to divest from many of its assets, they sold Flatiron School to Carrick Partners in June 2020. 


Thinkful Goes on a Buying Spree – and Gets Acquired in 2019

Viking Code School and The Odin Project were acquired by Thinkful in December 2017

Bloc was acquired by Thinkful in April 2018

Thinkful was then acquired by Chegg for $100 million in 2019.


Largest Acquisitions to Date: General Assembly and Trilogy

General Assembly was acquired by Adecco in April 2018 for $413 million! According to Axios, GA had been valued at $440 million. Between 2011-2015, GA raised nearly $120 million in VC funding, and earned $100 million in revenue in 2017.

Trilogy Education broke that record in April 2019 when they were acquired by 2U for $750 million.


Timeline: Every Coding Bootcamp Fundraise Since 2014

Bootcamp

Year

Fundraise Amount

Notes

Emeritus

2021   $650,000,000  
Multiverse 2021 $130,000,000

Past Fundraises:

$44,000,000 in 2021 

CoderSchool

 2021 $2,600,000   
HyperionDev 2021   £2,500,000  

Past Fundraises:

$1,800,000 in 2021

Product School 2021 $25,000,000  

Microverse

2021 $12,500,000

Past Fundraises:

$3,200,000 in 2020

CodeBoxx 2021 $2,000,000  

iXperience

2021 $2,500,000  
4Geeks Academy 2021 $10,000,000  
Holberton School 2021 $20,000,000

Past Fundraises:

$8.2M in 2018

$2.3M in 2017

Codecool 2021 €7,000,000  
Rithm School 2021 $25,000,000  

HyperionDev

2021 $1,800,000  
Burlington Code Academy 2021 $10,000,000  
Ironhack 2021 $20,000,000

Past Fundraises:

$4,000,000 in 2019

$3,000,000 in 2017

Multiverse 2021 $44,000,000  
Victory Lap 2021 $25,000,000  
Flockjay 2021 $11,000,000

Past Fundraises:

$2,980,000 in 2019

Hacktiv8 2020 $3,000,000  
LeWagon 2020 $19,000,000  
Microverse 2020 $3,200,000  
Code Institute 2020 $1,200,000  
Noodle Partners 2020 $16,000,000

 

Lambda School 2020 $74,000,000

Past Fundraises:

$30M in 2019

$14M in 2018

Springboard 2020 $31,000,000

Past Fundraises:

$11M in 2019

Podium Education 2020 $12,000,000  
Sabio 2020 $500,000  
Kenzie Academy 2019

$100,000,000

(debt financing)

Past Fundraises:

$7.8M in 2019

$4.2M in 2018

$1.6M in 2017

Pathrise 2019 $3,200,000

Past Fundraises:

$7.8M in 2019

$4.2M in 2018

$1.6M in 2017

Cybrary 2019 $15,000,000  
Galvanize 2019 $13,440,000

Past Fundraises:

$43.3M in 2018

$7M in 2017

Momentum 2019 $2,750,000  
CodeOp 2019 $320,000  
Coded 2019 $1,300,000  
Bitwise 2019 $27,000,000  
Make School 2019 $15,000,000  
CodeCool 2019 $3,500,000  
Holberton School 2018 $8,200,000

Past Fundraises:

$2.3M in 2017

Trilogy 2018 $50,000,000

Past Fundraises:

$30M in 2017

$30M in 2017

Thinkful 2018 $10,000,000

Past Fundraises:

$9.6M in 2018

 Andela  2017 $40,000,000   
 MissionU  2017 $8,500,000   
 Wyncode 2017  $1,000,000   

 

We’ll keep this chronologically-ordered list updated as bootcamps announce future acquisitions.

About The Author

Liz is the cofounder of Course Report, the most complete resource for students researching coding bootcamps. Her research has been cited in The New York Times, Wall Street Journal, TechCrunch, and more. She loves breakfast tacos and spending time getting to know bootcamp alumni and founders all over the world. Check out Liz & Course Report on Twitter, Quora, and YouTube!

related posts


Guide


UX Design vs Web Design

A helpful guide to the differences between UX Design and Web Design!

Instructor Spotlight


Supporting Women in Tech at Sabio

How this Sabio instructor helps women in tech

Guide


Deep Dive: Python vs C++

Find out the differences between Python and C++ and how they're used on the job!