Online learning platform Nerdy expands coding business with acquisition of Codeverse
2022-08-18 18:28:30

Online learning service provider Nerdy Inc. (NYSE: NRDY), the parent company of Varsity Tutors announced recently that it has acquired Codeverse in July to add coding program to its portfolio of learning tools and instruction.

Based in Chicago, Codeverse focuses on providing a digital platform for children to learn how to code. According to Chuck Cohn, Nerdy founder, Chairman and CEO, the acquisition “utilized only a small amount of cash considerations” with other financial terms of the deal undisclosed.

Founded in 2007, Nerdy became a public company in September 2021 through a merger with a special purpose acquisition company.

“Coding is one of the fastest-growing segments in education, yet the tools and resources for students have not kept up with the increasing demand,” Cohn said in a statement. “We understand the importance of coding to our customers, and as we evolve our business to an all-inclusive learning destination the addition of Codeverse to the Varsity Tutors platform will help us deliver on the need for high-quality computer science and coding education year round.”

Co-founded by husband-and-wife team Craig Ulliott and Katy Lynch, Codeverse has closed funding round from private investment. In 2018, the company announced capital injection of $10 million from undisclosed backers.

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