Andela Secures $100M Series D from One New Investor and 4 Existing Ones
Andela, the company building distributed engineering teams with Africa’s top software developers, today announced the completion of a $100M Series D funding. The round was led by Generation Investment Management with participation from existing investors including Chan Zuckerberg Initiative, GV, Spark Capital, and CRE Venture Capital.
Founded in 2014, Andela connects Africa’s engineering talent with the demand for software
developers worldwide. In four years, Andela has assessed more than one hundred thousand applicants, hired one thousand software developers, and integrated them into hundreds of companies, such as Safaricom, Percolate, and InVision.
With the Series D funding, Andela will accelerate the development of its technology platform to identify, develop and match talent at scale thereby providing its customers with the data they need to understand developer performance and better manage distributed teams. The company will also expand its presence across Africa to meet the global demand for high-quality engineering talent. In wake of the latest funding round, Jeremy Johnson, co-founder and CEO of Andela says:
“It’s increasingly clear that the future of work will be distributed, in part due to the severe shortage of engineering talent. Given our access to incredible talent across Africa, as well as what we’ve learned from scaling hundreds of engineering teams around the world, Andela is able to provide the talent and the technology to power high-performing teams and help companies adopt the distributed model faster.”
Andela’s Country Director, Omowale David Ashirun equally adds:
“Andela has been a critical player in Nigeria’s technology revolution. Due to our unwavering commitment to our mission throughout the last four years, Andela has grown into a thriving platform for hundreds of technologists in Nigeria. With this investment, Andela will accelerate the development of Africa’s best tech talent in Nigeria and beyond.”
According to Lily Wollman, Co-Head of Growth Equity at Generation Investment Management:
“Generation’s investment in Andela resulted from our deep research into the future of work. We believe Andela is a transformational model to develop software engineers and deploy them at scale into the future enterprise. The global demand for software engineers far exceeds supply, and that gap is projected to widen. Andela’s leading technology enables firms to effectively build and manage distributed engineering teams. We are great admirers of the outstanding team, mission and culture Andela has built across two continents and five countries.”
The most recent financing brings Andela’s total venture funding to $180M. Andela currently has its tech campuses in Nigeria, Kenya, Uganda, and Rwanda and intends to leverage its new funding engine to build engineering teams and power the future of work.