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New York-based but founded in Africa, Andela an innovative tech startup has secured $200-million in a Series E funding round 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.
Andela secures $200-million in Series E funding
The latest funding reportedly places the tech startup value at $1.5-billion.
Agnes Muthoni, Director of the Andela Learning Community at Andela comments on the latest funding secured.
“This new round of funding enables Andela to strengthen our already extensive network of incredible talent in Africa and across the world, as we systematically connect the best software engineers with global opportunities. Being backed by a diverse group of renowned and experienced investors is a testament to the growing importance of remote work, and how Andela is at the forefront of helping companies scale their engineering teams at a rapid pace.”
According to reports, the funding will be used to develop products that will simplify the global hiring process and help their network of engineers. The startup also aims to expand its network profile to include individuals in the fields of design and data.
Founded in 2014, Andela has created an innovative global engineering network that connects talented engineers to various companies. The startup has grown its platform in strides as it now reportedly hosts engineers from over 80 countries and six continents on its network profile.
Jeremy Johnson, CEO and co-founder of Andela attributes the growth of the network to the increased use of remote employees.
“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.”
Andela claims that it has a successful placement rate of 96% and matches engineers to required teams successfully, benefiting both parties.
said Lydia Jett, Partner at SoftBank Investment Advisers comments on their investment into the tech startup.
“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.”
Featured image: Jeremy Johnson, CEO and co-founder of Andela (Supplied)