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Andela raises $40 million in Series C Funding

by Milicent Atieno

Launched in 2014, Andela delivers to companies high-performing software engineering teams to tackle challenges unique to those companies. Andela does so by putting a strong platform for encouraging the development and growth of talented software engineers.

Andela has set up base operations in Nairobi, Lagos, and Kampala where it has hired some 500 top notch developers who work with global brands including Viacom, MasterCard, GitHub, and Gusto among others.

The company yesterday made the announcement that it has secured $40 million in Series C funding. The fund was raised from a number of venture firms including Salesforce Ventures, TLcom Capital, CRE Venture Capital, and Amplo. This new list of  VCs joined already existing investors list that includes the Chan Zuckerberg Initiative, Spark Capital, and GV.

Andela Series C funding marks one of the biggest investments made by an African venture firm towards and African-based company. This round of funding also brings Andela’s net worth funding to a little over $80 million.

Andela says the fund will go towards its expansion drive; the company says it has plans to set up two additional new offices across two more countries in Africa in 2018. The company will be also doubling its staff from the current 500 to 1,000. A move Andela says is informed by the surging demand for its services.

Andela is also recruiting new board members:

Pule Taukobong of CRE

Julia Gillard – Australia former Prime Minister and Amplo Board Partner

Omobola Johnson – Senior Partner at TLcom and Nigeria’s former Minister of Communication and Technology

Pule Taukobong, a Founding Partner of CRE Venture Capital and incoming Member of Board at Andela said, “At present, there is more capital to fund ideas globally than there are people to build them. Andela is providing a solution to this global talent dilemma while building a business case for one of Africa’s greatest assets; our people.”

Joshua Mwaniki, the Country Director of Andela Kenya added: “In the two years since we launched Andela Kenya, we’ve already become home to three hundred brilliant engineers who are redefining the meaning of leadership on the continent and building a reputation for technological excellence. When we look back at the key drivers that turned Kenya and Africa into economic giants, Andela will be remembered not as a footnote in the story, but as a major catalyst.”

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