Andela raises $200 million at $1.5 billion valuation, in Series E led by SoftBank

Tech talent outsourcing company, Andela has announced a $200 million Series E fundraise. This latest raise puts the company at a valuation of $1.5 billion.

The company got the funding through a series of investments led by Softbank Vision Fund 2. Participating investors include new investor Whale Rock and pre-existing investors like Generation Investment Management, the Chan Zuckerberg Initiative, and Spark Capital. 

This round of financing will see Lydia Jett, a Founding Partner at SoftBank Investment Advisers and one of the most respected consumer technology investors in the world, join Andela’s Board of Directors.

With the latest raise, Andela plans to expand its talent offering beyond software development to include new verticals such as design and data after it launched its Salesforce development earlier this year.

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Andela trains African softaware developers, then provides jobs for them in tech companies.

“Hiring remote technical talent is one of the top challenges that companies face today. We believe Andela will become the preferred talent partner for the world’s best companies as remote and hybrid work arrangements become the norm. We are delighted to support Jeremy and the Andela team in their mission to connect these companies with brilliant engineers, and in the process, unlock human potential at scale.”

-Says Lydia Jett, Partner at SoftBank Investment Advisers.

Andela was initially founded in Lagos, Nigeria in 2014 and incorporated in the United States, but today represents engineers from more than 80 countries and six continents. Through its platform, the company claims to have placed engineers with leading technology companies such as Github, Cloudflare, and ViacomCBS.

Andela raised $100 million in Series D funding in January 2019.

The tech company, now a fully remote organization with more than 300 employees around the world, began its global expansion plans earlier this year, a few months after it planned to shut down its physical offices.

Jeremy Johnson, CEO of Andela
Jeremy Johnson, CEO of Andela

“Andela has always been the high-quality option for those building remote engineering teams. Now that the world has come to embrace remote work, Andela has become the obvious choice for companies because we can find better talent, faster. If you are a talented engineer, Andela opens up a world of possibilities for you, no matter where you are based, “says Jeremy Johnson, CEO and co-founder of Andela. 

The company was named the Best Company to Work for in Africa at the Great Place to Work Awards in 2018 as well as ” The Best Place to Work in Nigeria for 2018″ by Jobberman.

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