KENYA – Andela, Africa-focused software developer has announced a US$100 million Series D round of funding led by Generation Investment Management, an investment firm co-founded by former US vice president Al Gore.
The funding regarded as one of the largest ever single rounds raised by an African-focused tech company and Andela’s biggest since 2014 seeks to expand the firm’s scope in software development on the continent.
Other investors who participated in the round include existing investors such as Chan Zuckerberg Initiative, GV (Google Ventures), Spark Capital, and CRE Venture Capital.
An Africa Digest report reveals that the funding brings the total venture funding raised by Andela to US$180 million.
Andela trains developers in Nigeria and Kenya for contract work with U.S. employers; its investors say remote work could help reduce greenhouse gas emissions.
With a goal to help companies scale with high-performing teams, Andela has since opened offices in Nigeria, Kenya, Uganda and the United States.
Headquartered in New York, the company has grown its Africa operations from a single campus in Nigeria to Kenya, Uganda and Rwanda and has unveiled plans to focus on expanding across Africa and doubling the size of its engineering talent pool this year.
Founded by Ian Carnevale, Iyinoluwa Aboyeji, Jeremy Johnson from 2U and Christina Sass and headquartered in New York, Andela pairs developers with global companies in need of their services.
Its model is based on admitting developers on a four-year contract through a highly selective process, having so far taken only 1,000 of its 100,000 applicants for training.
In June 2016, the company received funding from the Chan Zuckerberg Initiative.
In 2017, Andela raised US$40 million in Series C funding from CRE Venture Capital, DBL Partners, Amplo, Salesforce Ventures and TLcom Capital, becoming one of the most highly funded African companies not based in Africa.
Andela now operates in Kenya, Uganda, and Rwanda, and has about 1,100 developers on staff working for more than 200 companies, nearly 90% of which are located in the U.S.