TheCable

Andela, a global engineering network, has raised $200 million in Series E funding, placing the company’s valuation at $1.5 billion.

Since 2014, Andela had raised a total of $381 million in over ten funding rounds, according to Crunchbase data.

The new Series round was led by SoftBank Vision Fund 2 with participation from existing investors, including Generation Investment Management, Chan Zuckerberg Initiative, and Spark Capital; and Whale Rock, a new investor.

In a statement on Wednesday, Andela said the investment would see Lydia Jett, SoftBank Investment Advisers founding partner, and “one of the most respected consumer technology investors in the world” join the company’s board of directors.

The company said the new funds would be invested in developing products to simplify global hiring and make engineers’ lives easier.

It will also be used for expanding its talent offering beyond software development to include new verticals such as design and data.

Jett said: “We believe Andela will become the preferred talent partner for the world’s best companies as remote and hybrid work arrangements become the norm.

“We are delighted to support Jeremy (Andela CEO/co-founder) and the Andela team in their mission to connect these companies with brilliant engineers, and in the process, unlock human potential at scale.”

Agnes Muthoni, Andela Learning Community director, said: “This new round of funding enables Andela to strengthen our already extensive network of incredible talent in Africa and across the world, as we systematically connect the best software engineers with global opportunities.

“Being backed by a diverse group of renowned and experienced investors is a testament to the growing importance of remote work, and how Andela is at the forefront of helping companies scale their engineering teams at a rapid pace.”

TechCrunch reports that the company’s last valuation was placed at $700 million after raising $100 million in a Series D funding in 2019.