A software engineering talent-building company, Andela, is already looking at expanding its developer base from 500 to 1000 after securing $40M in funding.
Andela announced that the latest investment in the company was led by pan-African venture firm CRE Venture Capital with participation from DBL Partners, Amplo, Salesforce Ventures, and Africa-focused TLcom Capital.
Existing investors, including Chan Zuckerberg Initiative, GV, and Spark Capital, also participated. The round, which marks one of the largest investments ever led by an African venture firm into an Africa-based company, brings Andela’s total venture funding to just over $80M.
Andela says it will use the capital to fuel its aggressive expansion plans as the company aims to launch offices in two additional African countries over the next year, doubling its developer base from 500 to 1,000 to meet growing demand.
Alongside this round, Pule Taukobong of CRE, Julia Gillard, former Australian Prime Minister and Amplo Board Partner, and Omobola Johnson, Senior Partner at TLcom and former Minister of Communication Technology in Nigeria, will be joining Andela’s board.
Pule Taukobong, Founding Partner of CRE Venture Capital, adds, “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.”
With offices in Lagos, Nigeria, Nairobi, Kenya, and Kampala, Uganda, Andela has hired 500 developers to date, the top 0.7% of more than 70,000 applicants from across the continent.
Selected developers spend six months in a rigorous on-boarding program before being matched with one of Andela’s partner companies as full-time engineering team members.
Beyond recruiting elite development talent, Andela is catalyzing the growth of tech ecosystems across the continent by open-sourcing its content and partnering with organizations including Google and Pluralsight to provide resources and mentorship to developers.