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Andela Raises $40M to build global tech entrepreneurs

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Wsj
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Joined: Fri Apr 15, 2016 8:31 pm

Andela Raises $40M to build global tech entrepreneurs

Unread postby Wsj » Thu Oct 12, 2017 10:06 am

Andela, the company that builds high-performing engineering teams with Africa’s most talented software developers, has secured $40M in Series C funding.
With offices in Lagos, Nigeria, Nairobi, Kenya, and Kampala, Uganda, Andela has hired 500 developers to date — the top 0.7 per cent of more than 70,000 applicants from across the continent.
A statement said the investment was led by pan-African venture firm CRE Venture Capital with participation from DBL Partners, Amplo, Salesforce Ventures, and Africa-focused TLcom Capital.
Existing investors including Chan Zuckerberg Initiative, GV, and Spark Capital also participated. The round, which marks one of the largest investments ever led by an African venture firm into an Africa-based company, brings Andela’s total venture funding to just over $80M.
Andela was launched in 2014 to combat the global technical talent shortage by investing in Africa’s most talented software developers.
With an estimated 1.3M software jobs unfilled in 2016 in the U.S. alone, it’s clear that the growth of today’s major technology ecosystems is inhibited by a severe lack of talent.
To solve this, Andela invests in high potential pools of brainpower across the African continent to help more than 100 partner companies build distributed engineering teams. These partners range from industry leaders like Viacom and Mastercard Labs to high-growth technology companies such as Gusto and GitHub.
Selected developers spend six months in a rigorous onboarding program before being matched with one of Andela’s partner companies as full-time engineering team members.
Beyond recruiting elite development talent, Andela is catalyzing the growth of tech ecosystems across the continent by open-sourcing its content and partnering with organizations including Google, Pluralsight and Udacity to provide resources and mentorship to developers.
“Andela is investing in our continent’s future technology leaders, who are already playing a much-needed role in solving both African and global problems,” said Country Director Andela Nigeria, Seni Sulyman.
“With each new partnership, we are simultaneously proving to the global tech industry that brilliance is evenly distributed irrespective of gender, culture or nationality. As we unleash an entire generation of technologists, we will secure Africa’s role as an equal partner working alongside the rest of the world to advance human potential.”



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