Co-working chain launches $5M raise

The first Galvanize spot opened at 11th and Delaware. Photo by Burl Rolett.

The first Galvanize spot opened at 11th and Delaware. Photo by Burl Rolett.

One of the pioneers of the co-working boom is again passing the hat to investors.

Denver-based Galvanize disclosed that it raised $3.2 million this month with a target of $5 million. The startup has hauled in $30 million in venture funding since its inception in 2012.

In addition to renting desks by the month, Galvanize also teaches computer science and design classes and manages a VC fund for early-stage technology companies.

The company declined to comment on the raise.

Galvanize currently lists eight locations on its website, including two in its home city. The company’s latest space, a 25,000-square-foot outpost in Austin, will start offering classes in February.

Galvanize teaches a variety of data and engineering courses that promise students high-paying jobs as software developers after graduation. Students pay $21,000 for 24-week courses and $16,000 for 12-week courses. Eight-week web design classes at the Golden Triangle office start at $1,400.

Leasing fees vary by location. A seat goes for $300 a month in the company’s flagship location in the Golden Triangle and $350 a month at its second Denver spot on Platte Street. Galvanize also rents group desks and suites for up to 20 people.

The company’s third line of business is a $10 million seed venture portfolio, which includes investments in local startups Rachio and Parkifi.

Galvanize has raised at least $9.5 million since it closed an $18 million Series A funding round in 2014, which was led by New York-based University Ventures Fund. Galvanize bought rival data science school Zipfian Academy of San Francisco later that fall.

Galvanize isn’t the only company renting chairs and running coding boot camps in Denver.

The city has lately become a hotspot for co-working spaces and code academies. Co-working spaces Modworks, Shift Workspaces, The Hive, Enterprise and Ignitrr have all pitched flags in Denver. And earlier this month, New York-based coding school General Assembly announced it would start offering its first classes in Denver in February.

The first Galvanize spot opened at 11th and Delaware. Photo by Burl Rolett.

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