Andela has announced a $200 million Series E fundraise, valued at $1.5 billion, led by SoftBank
Andela has announced a $200 million Series E fundraise, valued at $1.5 billion, led by SoftBank
Andela is a talent outsourcing company that has raised a $1.5 billion valuation in its Series E round. With this latest round of funding, the company's market capitalization has increased to $1.5 billion.
Softbank Vision Fund 2 led a series of investments that resulted in the company receiving the necessary funding. Whale Rock, a new investor, is among those who have signed on to the deal, as are other long-standing investors such as Generation Investment Management, the Chan Zuckerberg Initiative, and Spark Capital.
Lydia Jett, a founding partner at SoftBank Investment Advisers and one of the world's most respected consumer technology investors, will join Andela's board of directors as a result of this round of financing. Lydia Jett is one of the world's most respected consumer technology investors.
Following the launch of its Salesforce development earlier this year, Andela intends to broaden its talent offering beyond software development to include new verticals such as design and data analysis with the latest funding.
The following is a quote from Lydia Jett, Partner at SoftBank Investment Advisers: "Hiring remote technical talent is one of the most difficult challenges that businesses face today." As remote and hybrid work arrangements become more common, we believe Andela will establish itself as the preferred talent partner for the world's most successful companies. The Andela team and I are thrilled to be able to support Jeremy and his team in their mission to connect these companies with brilliant engineers, and in the process, unlock human potential on a large scale."
Engineers from more than 80 countries and six continents are represented by Andela, which was originally founded in Lagos, Nigeria in 2014 and incorporated in the United States in 2015. The company claims to have placed engineers with leading technology companies such as Github, Cloudflare, and ViacomCBS as a result of its platform.
In January 2019, Andela raised $100 million in Series D funding from investors.
It began its global expansion plans earlier this year, just a few months after announcing plans to close its physical offices. The tech company is now a fully remote organization with more than 300 employees in over 30 countries around the world.
"Andela has always been the high-quality choice for those putting together remote engineering teams." Now that the world has come to accept remote work, Andela has emerged as the obvious choice for businesses because we can provide them with better talent, more quickly. Jeremy Johnson, CEO and co-founder of Andela, says that if you are a talented engineer, "Andela opens the door to a world of possibilities for you, no matter where you are based."
Great Place to Work Awards in 2018 recognized the company as "The Best Company to Work For in Africa." Jobberman also recognized the organization as "The Best Company To Work For In Nigeria for 2018."
