Nigeria startup Andela is now West Africa’s third unicorn
Africa startup connecting the continent’s software program engineering expertise to international firms has raised a $200 million Serie E funding from Japan tech investor SoftBank Group Corp.
Andela is now valued at $1.5 billion and joins Senegal’s francophone focussed fintech Wave and Nigeria/US fintech Flutterwave as West Africa’s 2021 unicorn. This funding permits for funding in AI software program which the corporate believes will ease the hiring course of and make it simpler.
In an interview with CNBC Africa, Andela CEO Jeremy Johnson mentioned that 5 years from now, one will solely need to push a button to entry the very best in expertise relatively than going to recruit domestically. Pandemic freezes left Andela in limbo with the sudden firing freezes however the shift in the direction of distant working made Andela flip in the direction of distant working. Chatting with CNBC, Johnson would additionally transfer in the direction of an “office-based setting.”
Previously yr, the corporate has moved from coaching expertise from 7 international locations to greater than 80 by saying its transfer into South America and Jap Europe. Nonetheless, the majority of the expertise pool stays in Africa.
In October 2017, Andela held a profitable $40 million Serie C spherical led by CRE. Again then this was the most important enterprise spherical ever by an African VC into an Africa-based enterprise. The funding noticed Pule be part of its board alongside different companions from prime international enterprise funds like Spark Capital and the Chan Zuckerberg Initiative. Different contributors into that funding spherical had been Salesforce Ventures, TLcom, DBL, and Amplo.