Andella, a Nigerian startup that connects leading organizations with highly skilled technologists, raised $ 200 million in a series e-funding round led by Softbank Vision Fund 2.
Existing investors including Whale Rock and Generation Investment Management, Spark Capital and the Chan Zuckerberg Initiative also participated in the round.
With the new funding, New York-based Andela became the latest Nigerian startup to achieve Unicorn status at a valuation of 1.5 billion.
Andela was launched in 2014 in Lagos, Nigeria with the aim of overcoming a severe shortage of software developers and engineers in Africa. It settled on a model where he selected and trained engineers in a six-month intense boot camp and then placed them in the role of junior developers in global companies. But when the market for junior developers was filled in recruitment countries like the US, the company turned its attention to hiring more experienced engineers in 2019.
By mid-2020, Andela had closed its physical premises in Nigeria, Kenya, Rwanda and Uganda, turned to a company that worked entirely remotely, and opened itself up to more developers across Africa, including international companies. Being the main center, New York-based Andela no longer trains developers directly; This social impact is given to the Mission Endeavor Learning Community, an online learning program that the company claims to have more than 10,000 participants.
According to Jeremy Johnson, CEO and co-founder of Andela, the company’s network today represents engineers from more than 80 countries and six continents. Through its platform, he said, thousands of engineers have been placed at leading technology companies, including GitHub, CloudFlare and ViacomCBS. Jeremy claims that engineers’ ability to evaluate technical and soft skills and adapt to the teams in which they will be most successful has resulted in a 96 percent successful placement rate.
Agnes Muthoni, director of the Andella Learning Community, said in a statement that, commenting on the latest funding,
“This new round of funding enables Andella to strengthen an already extensive network of incredible talent in Africa and around the world, as we systematically connect the best software engineers with global opportunities.”
With the new capital, Andella said, it will invest in growth, facilitate global technology and product development, and make the lives of engineers easier. The company plans to expand its workforce, particularly in manufacturing, engineering and growth.
Lydia Jet, founding partner of Softbank Investment Advisors, said:
“Recruiting remote technical talent is one of the major challenges facing companies today, and we believe Andela will become the preferred talent partner for the best companies in the world as remote and hybrid work arrangements become commonplace.”
Lydia Jet will join Andella’s board as part of the investment, the company said in a statement.
His Blog postBy the end of this year, engineers in more than 100 countries will be working with some of the best companies in the world to earn an average of 64% more than their previous jobs, Jeremy said. The co-founder further said that in the future global recruitment will be the default condition and it will be faster, easier and more effective to hire globally through Andela than to hire companies locally today. As a result, he said, companies will have access to better talent and talent will have access to more attractive roles – and race, gender and nationality will become less determinants of opportunity.
With the conclusion of the Series E round, Andela has raised a total of 1 381 million since its inception in 2014. The company was valued at $ 700 million when it collected the डी 100 million Series D in 2019.
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