UniversityNow, Inc. acquired the school in December 2010 and officially changed its name to "New Charter University" in early 2011. UniversityNow's funding to relaunch the university came from investors including Kapor Capital, University Ventures, Novak Biddle Venture Partners, Charles River Ventures, Greylock Partners, SV Angel, Floodgate, and 500 Startups. As part of the transition, the university also relocated its headquarters to San Francisco, California. In June 2012, Bottega University was awarded a grant from The Bill & Melinda Gates Foundation, through its Next Generation Learning Challenges organization, to fund research into innovative delivery models in higher education that have the potential to generate high student outcomes at an affordable cost.