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Andela raises $200m in Series E financing

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The global network for remote technology talent, Andela has raised $200 million in Series E financing.

The fundraising, which was led by Japanese multinational firm, Softbank, took Andela’s valuation to $1.5 billion.

Companies that took part in the exercise Whale Rock, Generation Investment Management, Chan Zuckerberg Initiative, and Spark Capital.

Whale Rock came as a new portfolio company while others were existing investors.

READ ALSO: BUSINESS REVIEW: How tech is reducing unemployment in Nigeria. We examine the Andela story and its impact

The new investment also bought Lydia Jett, the Founding Partner at SoftBank Investment Advisers and one of the most respected consumer technology investors in the world, to Andela’s Board of Directors.

The company is expected to use the new fund to expand its talent offering beyond software development to include new verticals such as design and data.

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