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Andela Raises $100m From American Investment Firm



Andela has once again raised $100 million funding round through investors led by former U.S. Vice President Al Gore’s sustainability-focused investment firm, Generation Investment Management, according to the U.S. Securities and Exchange Commission (SEC) website.

Techpoint reports that in 2015, Andela raised $14.6 million in series A funding led by Spark Capital. Omidyar Network and LearnCapital also took part in the funding round.

About a year after, the company announced a Series B funding round of $24 million led by the Chan Zuckerberg initiative in 2016, alongside existing investors Spark Capital, Omidyar Network, LearnCapital and CRE Venture Capital. The plan was to use the funding raised to scale the talent accelerator platform across Africa.

In 2017, CRE Venture Capital led a Series C funding round of $40 million in Andela. TLcom Capital, Amplo, Salesforce Ventures, DBL Partners, as well as existing investors Chan Zuckerberg Initiative, GV and Spark Capital also participated.

With Andela currently in operations in Nigeria, Kenya, Uganda and Rwanda, the new funding will help the company on-board more developers and scale to more African countries.

Lilly Wollman, Partner & Co-Head, Growth Equity Strategy at Generation Investment Management, expects the company to be placing 10,000 developers with clients “within the next several years”.

Andela is an African company that identifies and develops Africa’s most talented software developers to help companies scale with high-performing teams.

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