Andela raises $40m in new funding
Andela, a technology training institution for African developers, has raised $40 million dollars in a Series C funding led by South African Venture Capital, CRE Venture, alongside DBL Partners, Amplo, Salesforce Ventures, and TLcom Capital.
A report published by the New York Times put the total money Andela has raised from investors at $80 million dollars. In 2016, the company raised $24 million in an investment led by Facebook-backed Chan Zuckerberg Initiative. Other investors that participated in the Series B funding included Spark Capital, Omidyar Network, Learn Capital and CRE Ventures.
Since Andela was founded in 2014, it has recorded different milestones with some of its developers working remotely for global brands. Apart from having an office in Lagos Nigeria, it has also expanded to Kenya and Uganda.
In an article posted on Medium today, Andela’s Nigeria Country Director, Seni Sulyman, said he was excited that the new investment in the company was led by African owned Venture Capital.
Sulyman, who lauded CRE, added that the Venture has proven to global investors that Africans should be partners in allocating capital to the most promising companies.
“African VC has officially arrived! It also proves that CRE and several existing investors who reinvested in this round, deeply believe that Andela is going to be successful at powering global tech teams by investing in local tech talent here in Africa.
“Second, and more importantly, it means that our developers are delivering value, day after day. From their experiences building world-class tech products for our partner companies, they are preparing to elevate technology products built in Africa. While doing this, they are already contributing locally, through initiatives like TeenCode, which supports schools in preparing teenagers for tech-enabled futures. Our developers are the heart and soul of our organization, and they are the future of our continent. We’ve always believed in them; we’re glad the world increasingly does so too.”
According to Sulyman, the company will plough the new investment in talent operating out of its hi-tech offices across Africa and aggressively pursue its dreams and aspirations of making Africa equal partner in the global digital revolution.
Photo Credit: Jobberman
Deji Aroloye49 Posts
a graduate of Linguistics and a staff writer at Outrepreneurs, Deji's forte includes tech, startups and innovations. Years back, Deji wrote on Entertainment and Lifestyle for a tabloid. If he wasn't a writer, Deji would be a photographer or teacher.