ABS Capital Leads $45 Million Series B Round for Galvanize, Inc.
Galvanize, a market leader delivering technology education programs and community workspaces, announced today a $45 million Series B investment led by ABS Capital Partners, a leading late-stage growth company investor.
Colorado Impact Fund, Haystack Partners, Greg Maffei, Aspen Grove Capital and existing investor University Ventures also participated.
The funding will be used to provide more students access to Galvanize’s modern web development and data science programs and directly address employer’s needs to re-skill existing employees. As a result of the financing, Paul Mariani, a general partner with ABS Capital, will join the Galvanize Board of Directors.
“With ABS as our partner, Galvanize will continue to build leading web development and data science technical education programs and provide needed tech talent to industry partners to meet their continuous skill needs,” said Jim Deters, CEO and co-founder of Galvanize. “By offering the most comprehensive training on the market, our students achieve true mastery, making them ‘job ready’ – which our industry partners recognize as essential and nets our alumni a meaningful increase in earning potential.”
Founded in 2012 by Jim Deters, Lawrence Mandes, and Chris Onan, Galvanize is a learning community for technology for ambitious students, startups, and established companies. Galvanize has nine urban campuses across the nation including Denver, Boulder, Ft. Collins, San Francisco, Seattle, Austin, and Phoenix and is currently open in New York City with a pop-up and will fully operate in its 55,000 sq ft space in early 2017.
Traditionally, industry and education have existed in separate worlds. Galvanize is bridging the gap by bringing industry partners, students, and cutting-edge education under a single roof. The Galvanize solution closes the tech skills gap by providing accessible education in job-ready skills such as web development, data science, engineering, building a community of entrepreneurs and learners, and connecting that community with skilled graduates.
Because Galvanize works with companies to understand what skill sets are most relevant and curates its own curriculum, and works with hiring partners such as Allstate, Amazon, Salesforce, IBM, Pivotal, and Tesla, Galvanize students are prepared for success. Graduates have over a 90% job placement rate in technology within six months of graduating from immersion programs and receive an average annual salary increase of over $30,000.
Meeting industry needs for top tech talent doesn’t always mean hiring new workers. So, in addition to the web development and data science immersive programs for tech students, Galvanize also offers corporate training and workshops for established companies such as Allstate and IBM to level up and re-skill their existing workforce on evolving modern technology.
Two years ago, Galvanize had 150 member companies working in its innovative urban campuses. Today, it has more than 700 companies in its membership program, which is offered on a per seat, per desk, or per suite basis. Galvanize membership opportunities allow individuals, entrepreneurs, startups, and corporate partners to work in close proximity to tech education programs and one another – creating a strong, innovative and self-sustained education, technology and business community.
“We were attracted to Jim’s passion and commitment to Galvanize’s mission, and we were very impressed with the industry-aligned programs the Company has built that prepare learners to succeed in technology roles,” said ABS partner Paul Mariani.
In 2014, Galvanize raised $18 million in a Series A fund led by University Ventures.