ANDELA, a firm which uses African computer programmers to work remotely for US corporations, has secured $100m in investment.
According to market researchers CB Insights, this deal is the third-largest venture investment ever for an African startup. The funding comes from Generation Investment Management – a firm run by the former US Vice-President Al Gore.
‘Generation’s investment in Andela resulted from our deep research into the future of work. We believe Andela is a transformational model to develop software engineers and deploy them at scale into the future enterprise,’ says Lilly Wollman, Co-Head of Growth Equity at Generation Investment Management. ‘The global demand for software engineers far exceeds supply, and that gap is projected to widen. Andela’s leading technology enables firms to effectively build and manage distributed engineering teams. We are great admirers of the outstanding team, mission and culture Andela has built across two continents and five countries.’
The technology company says it intends to use part of the funding to improve its software to spot talented programmers and monitor the performance of their workers.
‘It’s increasingly clear that the future of work will be distributed, in part due to the severe shortage of engineering talent,’ Jeremy Johnson, co-founder and CEO of Andela said in a statement.
‘Given our access to incredible talent across Africa, as well as what we’ve learned from scaling hundreds of engineering teams around the world, Andela is able to provide the talent and the technology to power high-performing teams and help companies adopt the distributed model faster.’
‘Andela has played a major role in catalysing the growth of technology ecosystems across Africa over the past four years, though the journey has only just begun,’ says Seni Sulyman, Vice President of Global Operations at Andela. ‘To date, we have developed more than one thousand of Africa’s current and future technology leaders. This round of funding will help Andela accelerate our mission to advance human potential by powering today’s teams and investing in tomorrow’s leaders.’
With tech campuses in Nigeria, Kenya, Uganda, and Rwanda, Andela has been recognised as ‘The Best Place to Work in Africa.’ In 2018, The Wall Street Journal named Andela as one of the 25 technology companies to watch, and the year prior, Fast Company ranked Andela as the most innovative company in Africa. In 2019, Andela is projected to double in size, hiring another one thousand software developers and investing heavily in data, engineering, and product development.
Andela is solving the global technical talent shortage by building distributed engineering teams with Africa’s top software developers. In four years, Andela has hired 1,000 developers out of more than 100,000 applicants and become known as the ‘Best Place to Work in Africa,’ with tech campuses in Lagos, Nairobi, Kampala and Kigali. Backed by Generation Investment Management, Chan Zuckerberg Initiative, GV, CRE Ventures and Spark Capital, Andela is powering global engineering teams while catalysing the growth of tech ecosystems across the African continent.