Andela has announced a $100 million Series D round. The round is led by Generation Investment Management—an investment firm co-founded by former US vice president Al Gore, with participation from existing investors including Chan Zuckerberg Initiative, GV (Google Ventures), Spark Capital, and CRE Venture Capital. It brings the total venture funding raised by Andela to $180 million.
Quartz reports that it is one of the largest ever single rounds raised by an African-focused tech company.
Andela was founded in 2013 on the premise of training African software developers and hiring them to global companies as demand for engineering talent continues to rise across the world.
We're excited to announce a $100M Series D led by Generation Investment Management to power the future of work. #ThisIsAndela #AndelaSeriesD pic.twitter.com/e0E3IUyu1p
— Andela Nigeria (@Andela_Nigeria) January 23, 2019
Headquartered in New York, the company has grown its Africa operations from a single campus in Nigeria to Kenya, Uganda and Rwanda. Andela says it will focus on expanding across Africa and doubling the size of its engineering talent pool this year.
Andela’s model is based on admitting developers on a four-year contract through a highly selective process—it has so far taken only 1,000 of its 100,000 applicants—and training them. It then generates revenue when it pairs developers with global companies in need of their services.
