Andela Secures $40million Boost in Series C Funding

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Recently, the Nigerian tech company that builds high-performing engineering teams with Africa’s most talented software developers, Andela announced that it has secured $40 million in Series C funding. This round marks one of the largest investments ever led by an African venture firm into an Africa-based company. This brings Andela’s total venture funding to over $80 million after the $24 million Series B funding from the Chan Zuckerberg Initiative.

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.

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 the Chan Zuckerberg Initiative, GV, and Spark Capital also participated.

Andela will use the capital to fuel its aggressive expansion plans: The company aims to launch offices in two additional African countries over the next year, doubling its developer base from 500 to 1,000. Alongside this round, Pule Taukobong of CRE, Julia Gillard, former Australian Prime Minister and Amplo Board Partner, and Omobola Johnson, Senior Partner at TLcom and former Minister of Communication Technology in Nigeria, will be joining Andela’s board.

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