Capella Education Company Acquires Female Focused Hackbright Academy For $18m



Via News Release

“MINNEAPOLIS — Capella Education Company (NASDAQ: CPLA) today announced that Hackbright Academy, the leading non-degree software engineering school for women, has become a wholly-owned, subsidiary of the Capella Education Company. The transaction was closed on April 22, 2016 for a purchase price of $18 million paid in cash at closing.

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. Hackbright Academy will operate as a wholly owned subsidiary of Capella and maintain its current headquarters and management team based in San Francisco.”

“The future of learning and employment will be shaped by institutions that can upskill under-represented populations in high-demand skill areas. This is what makes the combination of Capella and Hackbright Academy so exciting,” Kevin Gilligan, Capella Education Company chairman and chief executive officer said. “Capella has a heritage as an innovator for those poorly served by traditional education; Hackbright Academy is on the leading edge of innovation and support for women pursuing career advancement in software engineering. Hackbright’s mission alignment, strategic fit, and growth potential make this partnership an important element of Capella’s future.”

“From my first meeting with Capella, it was clear that they share our values and want to ensure Hackbright has what it needs to succeed and grow,” said Sharon Wienbar, Hackbright Academy’s chief executive officer. “There will be over 1 million unfilled software engineering jobs in the U.S. by 2020, and Hackbright is committed to its mission to changing the ratio of women software engineers in these positions. Combining with Capella will give us the resources to grow to serve our students and partners. I’m thrilled to bring our whole team along on this mission, and to be able to grow our influence in the technology community.”

“We founded Hackbright after seeing how few women had the opportunity to advance their careers in the first code schools, which were heavily male,” said David Phillips, co-founder and chairman of Hackbright. “We are excited that with Capella, we can now accelerate the fulfillment of our mission to #changetheratio.”

Key Facts about Hackbright Academy

  • Founded in 2012 by David Phillips and colleagues
  • Hackbright Academy offers immersive, in-person programs headquartered in San Francisco
  • Hackbright teaches women computer science fundamentals, professional software development skills, and helps its graduates secure desirable software engineering jobs

For graduates of the Fellowship program, an immersive in-person 12-week software engineering program, seeking employment between June 2012 and April 2014:

  • 90% of Hackbright’s graduates of the Fellowship program seeking employment get tech jobs
  • 84% of Hackbright alumnae who receive job offers get their first job offer within 3 months of completing the engineering Fellowship
  • The average starting salary for graduates with full-time roles was $89,000
  • In addition to graduating software engineers, Hackbright Academy alumnae have started new careers as:
    Support Engineers
    Software Engineers in Test / Quality Engineers
    Security Engineers
    Systems Engineers
    Data Scientists
    Product Managers
    Solutions Architects

Key Facts About Capella

  • Capella University, the flagship of Capella Education Company, offers competency-based degree programs for working adults, primarily in post-graduate fields
    • Over 75% of Capella University’s learner population is female
    • About half of its learner population is learners of color
  • Capella Learning Solutions focuses on providing job-ready 21st century skills, including through an innovative partnership with CareerBuilder® called RightSkillSM
  • Sophia Learning is an online teaching and learning platform which offers low-cost pathways to general education college credits