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Tech firm Andela raises Sh10 billion funding

cash money
The funding comes after the tech company secured Sh4.1 billion in 2017. FILE PHOTO | NMG 

Zuckerberg-backed startup Andela has raised Sh10 billion ($100 million) in the latest round of funding, raising its total venture capital to Sh18.1 billion ($180 million).

The Series D funding was led by Generation Investment Management with participation from existing investors including Chan Zuckerberg Initiative, GV, Spark Capital, and CRE Venture Capital.

“In four years, Andela has integrated Kenyan technologists with hundreds of leading engineering teams around the world. This latest round of funding enables us to continue scaling and innovating with technology, whilst also helping define Africa’s future in the tech landscape.” Said Joshua Mwaniki, Country Director at Andela Kenya.

With the Series D funding, Andela will accelerate the development of its technology platform to identify, develop and match talent at scale.

By doing so, Andela will provide its customers with the data they need to understand developer performance and better manage distributed teams. The company will also expand its presence across Africa to meet the global demand for high-quality engineering talent.

“It’s increasingly clear that the future of work will be distributed, in part due to the severe shortage of engineering talent,” says Jeremy Johnson, co-founder and CEO of Andela.

Andela was founded in 2014 to connect Africa’s engineering talent with the demand for software developers worldwide. In four years, Andela has assessed more than one hundred thousand applicants, hired one thousand software developers, and integrated them into hundreds of companies, such as Safaricom, Percolate, and InVision.

Last year, Wall Street Journal named Andela as one of the twenty-five technology company to watch.

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