Andela: $200 Million Funding And $1.5 Billion Valuation

By Annie Baker ● Oct 9, 2021
  • Andela — a global network for remote engineering talent — announced it raised a $200 million in Series E funding. These are the details.

Andela — a global network for remote engineering talent — announced it raised a $200 million in Series E funding round that values the company at $1.5 billion. This round of funding was led by Softbank Vision Fund 2 with participation from new investor Whale Rock and existing investors including Generation Investment Management, Chan Zuckerberg Initiative, and Spark Capital. And Lydia Jett, Founding Partner at SoftBank Investment Advisers, will join Andela’s Board of Directors.

Andela essentially helps companies build remote engineering teams by providing them with access to the best software engineers in the world. Launched in Africa in 2014, the Andela network now represents engineers from more than 80 countries and six continents. And through Andela, thousands of engineers have been placed with leading technology companies including Github, Cloudflare and ViacomCBS.

With a successful placement rate of 96%, Andela mastered the ability to evaluate the technical skills and soft skills of engineers to match them to the teams they’ll be most successful in. And with a new funding round, the company will invest in developing products to simplify global hiring and make engineers’ lives easier. In addition, Andela will continue to expand its talent offering beyond software development to include new verticals such as design and data after launching Salesforce development earlier this year.

KEY QUOTES:

“Andela has always been the high-quality option for those building remote engineering teams. Now that the world has come to embrace remote work, Andela has become the obvious choice for companies because we can find better talent, faster. If you are a talented engineer, Andela opens up a world of possibilities for you, no matter where you are based.”

— Jeremy Johnson, CEO and co-founder of Andela

“Hiring remote technical talent is one of the top challenges that companies face today. We believe Andela will become the preferred talent partner for the world’s best companies as remote and hybrid work arrangements become the norm. We are delighted to support Jeremy and the Andela team in their mission to connect these companies with brilliant engineers, and in the process, unlock human potential at scale.”

— Lydia Jett, Partner at SoftBank Investment Advisers