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Softbank Vision Fund 2 leads $200m Series E round in Andela

Anna Lyudvig
Sept. 30, 2021, 10:35 a.m.

Word count: 419

Softbank Vision Fund 2 has led a Series E $200m investment in Andela, a global network for remote engineering talent, that values the company at $1.5bn

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Softbank Vision Fund 2 has led a Series E $200m investment in Andela, a global network for remote engineering talent, that values the company at $1.5bn

Other investors in the round included new investor Whale Rock and existing investors: Generation Investment Management, Chan Zuckerberg Initiative, and Spark Capital. 

Lydia Jett, Founding Partner at SoftBank Investment Advisers and one of the most respected consumer technology investors in the world, will join Andela’s Board of Directors.

Andela helps companies build remote engineering teams by providing them with access to the best software engineers in the world. 

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

“Andela has always been the high-quality option for those building remote engineering teams. 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,” said Jeremy Johnson, CEO and co-founder of Andela. 

“If you are a talented engineer, Andela opens up a world of possibilities for you, no matter where you are based.”

With a successful placement rate of 96%, Andela has mastered the ability to evaluate the technical skills and soft skills of engineers to match them to the teams they’ll be most successful in. 

With the new capital, the company will invest in developing products to simplify global hiring and make engineers’ lives easier. 

In addition, Andela will continue to expand its talent offering beyond software development to include new verticals such as design and data after launching Salesforce development earlier this year.

"Hiring remote technical talent 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 Lydia Jett, Partner at SoftBank Investment Advisers. 

“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.”

“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", said Agnes Muthoni, Director of the Andela Learning Community at Andela. 

"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.”

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