Denver’s original coworking space-turned-coding academy has socked away another $7 million as part of a recent capital raise.
Galvanize raised $7 million of a $12 million target, according to a Form D filed with the SEC this week. The company, founded in 2012 in Denver, has operated a venture capital fund, coworking spaces, and coding school for web developers and software engineers, but says it will use recent funds on its coding and tech classes, according to a press release.
This chunk of investment follows a tumultuous summer for the firm. Reuters reported in August that Galvanize was laying off 11 percent of its workforce, including 37 people in Denver. And in July, CEO and co-founder Jim Deters stepped down, with co-founder Lawrence Mandes later stepping in as President.
Mandes did not respond to requests for comment.
Galvanize also closed its Fort Collins location last December. It lists eight locations, including Seattle, Austin, New York, Phoenix and San Francisco, in addition to its three Colorado outposts.
Six individuals contributed to Galvanize’s most recent raise. Investors included Maryland-based ABS Capital Partners and New York-based University Ventures.
Last August, the company bagged $45 million in outside investment, which it used to introduce online classes. It has raised about $78 million, according to SEC filings.