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Andela Gets $200 Million to Grow Engineering Talent

2 minute read
Ben Schwartz avatar
The new investment values the company at $1.5 billion and will fuel product development and expand into industries beyond engineering.

Andela, a software company that aims to help companies build remote engineering teams, hit a valuation of $1.5 billion, as the company announced $200 million in Series E financing today.

The New York City-based talent accelerator connects engineers in emerging markets across the world to collaborate and work together through the company's talent network platform.

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“Andela has always been the high-quality option for those building remote engineering teams,” said Jeremy Johnson, Andela’s CEO and co-founder in a press release statement. “Now that the world has come to embrace remote work, Andela has become the obvious choice for companies because we can find better talent, faster.”

With a success rate of 96% when placing engineers, Andela plans to use the newly raised capital to invest in developing products for global hiring and making engineers’ lives easier, along with continuing to expand its talent offering beyond software development to include new verticals such as design and data after launching Salesforce development earlier this year.

Led by Softbank Vision Fund 2 with participation from new and existing investors, the company is also adding Lydia Jett, founding partner at SoftBank Investment Advisors to Andela’s Board of Directors. According to Jett, hiring remote workers is “one of the top challenges that companies face today.”

“We believe Andela will become the preferred talent partner for the world’s best companies as remote and hybrid work arrangements become the norm,” said Jett in a statement. “We are delighted to support Jeremy and the Andela team in their mission to connect these companies with brilliant engineers, and in the process, unlock human potential at scale.”

With over 300 employees worldwide, Andela is currently used by companies such as GitHub, Cloudflare and Viacom CBS to scale their engineering teams. Spanning six continents, the company is backed by investors including Generation Investment Management, Chan Zuckerberg Initiative, Spark Capital, and Google Ventures.

Launched in Africa in 2014, the Andela network today includes engineers from more than 80 countries and six continents.

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