Capella Education Co. last week announced the purchase of Hackbright Academy, a nondegree coding boot camp for women, for $18 million. Capella, a publicly traded for-profit chain, said in a written statement that the San Francisco-based Hackbright’s "mission to increase female representation in the tech workforce through education, mentorship and community is a strategic fit with Capella’s focus on providing the most direct path between learning and employment, and Capella’s historic base of largely female students."
The purchase is the fourth major investment by a for-profit in a boot camp, which tend to offer postcollege training in immersive, 12-week sessions that cost around $12,000. Kaplan Inc. two years ago bought Dev Bootcamp. Apollo Education Group made a "significant" investment in the Iron Yard last year. And Strayer Education Inc. bought the New York Code and Design Academy this year.
BMO Capital Markets, which analyzes the for-profit sector, said boot camps could help for-profit chains lessen their reliance on federal financial aid while also reaccelerating the companies' growth.