Andela Brings In $40 Million

Rodiano Bonacci
Ottobre 13, 2017

Previous investors in Andela include the likes of Facebook founder Mark Zuckerburg, who past year contributed $24 million in Series B funding through the Chan Zuckerburg initiative, BusinessInsider reports.

The founding partner of CRE Venture Capital, Pule Taukobong said Andela was initiated to meet the global technical talent shortage and has now hired 0.7 per cent of more than 70,000 applicants from the region. This round marks one of the largest investments ever led by an African venture firm into an Africa-based company.

Indian American Sheel Tyle, 26, founded a new company in May called Amplo and will now lead a $100 million fund for seed and follow-on deals related to startup Andela. Existing investors including the Chan Zuckerberg Initiative, GV, and Spark Capital also participated. "As we unleash an entire generation of technologists, we will secure Africa's role as an equal partner working alongside the rest of the world to advance human potential", said Seni Sulyman, Country Director of Andela Nigeria.

The company revealed that Andela will use the capital to fuel its aggressive expansion plans.

Zuckerberg-backed start-up, Andela, has raised Sh4.1 billion to boost IT talent in three African countries including Kenya through South Africa-based CRE Ventures.

Andela is a network of technology leaders dedicated to building high-performing engineering teams and companies by investing in Africa's most talented software developers. With an estimated 1.3M software jobs unfilled in 2016 in the US alone, it's clear that the growth of today's major technology ecosystems is inhibited by a severe lack of talent.

The company has offices in Lagos, Nigeria, Nairobi, Kenya, and Kampala, Uganda (opened in May), from which their software development teams work for a variety of businesses which include the likes of Mastercard Labs, Viacom, Microsoft, Google, and IBM, along with over 100 other US partner tech firms. 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, Pluralsight and Udacity to provide resources and mentorship to developers.

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