$100m Funding: Andela to Double its Workforce by Hiring 1000 Software Developers this Year
African tech company, Andela is set to double in size this year by hiring another 1000 software developers following a $100m Series D funding.
This funding round led by investment firm, Generation Investment Management (Generation IM) brings the company’s total funding since inception to $180m.
The firm’s existing investors – Chan Zuckerberg Initiative, GV, Spark Capital, and CRE Venture Capital, also participated in the round.
With this funding, Andela is poised to invest heavily in data, engineering and product development. This includes accelerating the development of its technology platform to identify, develop and match talent at scale.
By doing so, Andela will provide its customers with the data they need to understand and better manage their developer’s performance.
The company which currently operates in Nigeria, Kenya, Uganda, and Rwanda, will also expand its presence across Africa to meet the global demand for high-quality engineering talent. Hence the plan to double its existing 1,100 developers with the addition of 1000 more.
“It’s increasingly clear that the future of work will be distributed, in part due to the severe shortage of engineering talent.”
Jeremy Johnson, co-founder and CEO of Andela
“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.”
On her part, Lilly Wollman, Co-Head of Growth Equity at Generation Investment Management said that the firm’s investment in Andela comes from a deep research into 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,”Lilly Wollman, Co-Head of Growth Equity at Generation Investment Management.
Since inception in 2014, Andela has continued to build the infrastructure for the future of distributed work. In 2018, it was listed as one of the twenty-five technology company to watch by The Wall Street Journal.
It has also been recognized as “The Best Place to Work in Africa.”
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