The African focused-engineering skills development startup, Andela, has secured a $40 million series C funding.
According to a statement released by the firm, the new round of capital injection by investors indicates their belief in the Andela’s business proposition of powering global tech companies with African talents.
“First, this round was led by an African investor — CRE Venture Capital — who’s been there with us from day 1…. It’s a HUGE deal,” the statement reads.
“It signifies that just as Andela has proven to the global tech ecosystem that Africans should be partners in advancing human potential through technology, CRE has proven to global investors that Africans should be partners in allocating capital to the most promising companies.”
Andela is a New York-based platform and was launched in 2014 to combat the global technical talent shortages by investing in Africa most talented software developers and engineers. Mr Seni Sulyman, Country Director of Andela Nigeria said about the goal of the firm in Africa.
“Andela is investing in our continent’s future technology leaders, who are already playing a much-needed role in solving both African and global problems. With each new partnership, we are simultaneously proving to the global tech industry that brilliance is evenly distributed irrespective of gender, culture or nationality,” said Sani.
Asides recruiting elite talent for tech companies, the firm is also leading the growth of tech ecosystems in Africa. It has been partnering with organizations including Google and Pluralsight to provide resources and mentorship to developers.
For this round of investments, it was led by an African venture firm, CRE Venture Capital. The round also had the participation of DBL Partners, Amplo, Salesforce Ventures, and Africa-focused TLcom Capital.
Founding Partner of CRE Venture Capital, Mr Pule Taukobong said as regards the company’s choice of Andela.
“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,” he said.
Andela currently has offices in Nigeria, Kenya and Uganda with a staff strength of about 500 in the continent.
The raised capital is to fuel the Andela’s expansion to two more African countries over the next year. And also help in doubling its developer base from 500 to 1000 due to growing demand.