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- Andela
Andela Revenue, Valuation, Funding & Investors
Andela is valued at $1.5B as of September 2021.
Last Andela valuation
$1.5B
Series E · Sep 2021
Last Andela funding round
$200M
Series E · Sep 2021
Andela revenue
$50M
Series D · Jan 2019
Key investors in Andela
Spark Capital
CRE Venture Capital
Chan Zuckerberg Initiative
GV
Omidyar Network
GSV Ventures
About Andela
Andela is a global talent network, founded in 2014 in Lagos, Nigeria, that connects companies with vetted remote software engineers, initially sourced from Africa and now spanning more than 80 countries. Clients including GitHub, Cloudflare, and ViacomCBS use the platform to build remote engineering teams, with engineers placed for an average of 18 months per engagement. The company operates fully remotely and has grown from an African developer-training program into a global remote-engineering marketplace.
Founded
2014
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Services
Revenue
$50M (Jan 2019)
Valuation
$1.5B (Sep 2021)
Andela Valuation
Andela is currently valued at $1.5B, based on its Series E in September 2021.
The $200M round was led by SoftBank Group, with participation from Spark Capital, Chan Zuckerberg Initiative, Generation Investment Management and Whale Rock Capital Management.
Andela's valuation has grown 2.1x from $700M at its Series D in January 2019 to $1.5B in September 2021, across 2 priced rounds.
Andela valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2021 | Series E | $1.5B | - |
| Jan 2019 | Series D | $700M | 14.0x |
Andela Revenue
Andela's latest recorded revenue is $50M, as of its Series D in January 2019. At a $700M valuation, that implies a 14.0x revenue multiple.
Andela revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2019 | $50M | $700M | 14.0x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Andela Funding History
Andela has raised a total of $381M across 6 funding rounds.
Andela's first fundraising round was a $3M seed round in September 2014. The most recent completed round was a $200M Series E in September 2021.
Andela funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2021 | Series E | SoftBank Group (lead); Spark Capital; Chan Zuckerberg Initiative; Generation Investment Management; Whale Rock Capital Management | $200M | $1.5B | Andela, founded in 2014 in Lagos, Nigeria, is a global talent network connecting companies with vetted remote software engineers from emerging markets, initially focused on Africa but expanded to over 80 countries across six continents. The company helps leading tech firms like GitHub, Cloudflare, and ViacomCBS build remote engineering teams, boasting a 96% successful placement rate with engineers averaging 18 months per engagement. Andela operates fully remotely and positions itself as a solution to the growing challenge of hiring remote technical talent amid the rise of hybrid work. On September 29, 2021, Andela announced a $200 million Series E funding round led by SoftBank Vision Fund 2, achieving a $1.5 billion post-money valuation and unicorn status, up from $700 million in its 2019 Series D. Participants included new investor Whale Rock Capital Management and existing backers Generation Investment Management, Chan Zuckerberg Initiative, and Spark Capital, bringing total funding to approximately $380-381 million. As part of the deal, Lydia Jett, Founding Partner at SoftBank Investment Advisers, joined Andela's board. The funding aims to reshape talent acquisition by expanding Andela's global engineer network, which grew from 37 to over 80 countries earlier that year, targeting a pool of over 500,000 engineers. CEO Jeremy Johnson emphasized broadening talent pools geographically and by skill diversity to meet enterprise demands for consistent remote skills. No acquisition plans were indicated; focus remains on scaling technology for faster matching and delivery. This round reflects investor confidence in Andela's pivot from African-focused training to a global remote outsourcing leader, amid a talent crunch narrative. SoftBank's investment marks its second major African lead shortly after OPay, highlighting growing VC interest in the region's tech talent ecosystem. |
| Jan 2019 | Series D | Generation Investment Management (lead) | $100M | $700M | Andela is a global engineering network that helps tech companies build remote engineering teams by identifying, developing, and matching talent at scale. The company was founded in 2014 by a multinational team including Kenyans, Nigerians, Americans, and a Canadian, establishing offices across African cities including Lagos, Nairobi, Kampala, and Kigali. In January 2019, Andela closed a $100 million Series D funding round led by London-based Generation Investment Management, with participation from existing investors Spark Capital, GV (Alphabet's venture capital arm), CRE Venture Capital, and the Chan Zuckerberg Initiative. The round valued the company at $700 million and brought total venture funding to $180 million at that time. The company intended to use the funding to accelerate development of its technology platform for talent identification and matching, and to expand its presence across Africa. By 2019, Andela had developed over 1,000 of Africa's technology leaders and planned to hire 1,000 additional software developers that year while investing heavily in data, engineering, and product development. CEO Jeremy Johnson confirmed in 2019 that Andela's annual revenue rate was $50 million, representing the company's strong market traction in the talent marketplace. |
| Oct 2017 | Series C | CRE Venture Capital (lead); DBL Partners; Salesforce Ventures; TLcom Capital Partners; Amplo; GV; Spark Capital; B5 Capital; Chan Zuckerberg Initiative; Golden Palm Investments; Rogue Insight Capital | $40M | - | The funds were intended to scale global operations and improve matching algorithms for connecting Africa's engineering talent to the global technology ecosystem. This followed prior rounds: a $24 million Series B in June 2016 led by Chan Zuckerberg Initiative and a $14 million Series A in June 2015 led by Spark Capital. |
| Jun 2016 | Series B | Chan Zuckerberg Initiative (lead); Learn Capital; Battery Road Digital Holdings; CRE Venture Capital; GV; Spark Capital; Flat World Partners; Omidyar Network; Social Impact Capital; GSV Ventures; Omar Darwazah | $24M | - | - |
| Jun 2015 | Series A | Spark Capital (lead) | $14M | - | Andela raised a Series A funding round led by Spark Capital around June 2015, with the amount reported as $14 million to $14.6 million across sources, including participation from Omidyar Network and Learn Capital. The funds supported Andela's expansion in Nigeria and Kenya and further growth across Africa to meet demand for trained software developers. Launched in Lagos, Nigeria in 2014, Andela trains Africa's top software talent for global enterprises facing technical talent shortages. |
| Sep 2014 | Seed | Learn Capital; Chris Hughes; CRE Venture Capital; Paul Appelbaum; HIGHLINEvc; Mick Hagen; Melo7 Tech Partners; Album VC; Outlander Fund I Archimedes; Omidyar Network; Founder Collective; GSV Ventures | $3M | - | - |
Who has invested in Andela?
29 investors have backed Andela across its funding rounds, including Spark Capital, CRE Venture Capital, Chan Zuckerberg Initiative, GV, Omidyar Network and GSV Ventures.
Lead investors include SoftBank Group, Generation Investment Management, CRE Venture Capital, Chan Zuckerberg Initiative and Spark Capital.
Andela Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Jun 2015 | ||
| 3 | Lead | Sep 2014 | ||
| 3 | Lead | Jun 2016 | ||
| 2 | Participant | Sep 2014 | ||
| 2 | Participant | Jun 2016 | ||
| 2 | Lead | Jan 2019 | ||
| 2 | Participant | Sep 2014 | ||
| 2 | Participant | Sep 2014 | ||
| 1 | Participant | Oct 2017 | ||
| 1 | Participant | Oct 2017 | ||
| 1 | Participant | Sep 2014 | ||
| 1 | Participant | Oct 2017 | ||
| 1 | Participant | Oct 2017 | ||
This data is available for Pro users. Sign up to see all 29 Andela investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Andela
Andela has acquired 4 companies to date.
Last acquisition by Andela was on January 22nd 2026. Andela acquired Woven for undisclosed valuation.
Latest Acquisitions by Andela
| Description | Woven is a San Francisco-headquartered technical assessment platform for hiring senior software engineers. Its scenario-based evaluations test architecture design, system thinking, leadership, and communication skills beyond coding challenges. Used by engineering leaders at tech companies, Woven reduces dropout rates in recruitment pipelines and improves hire quality through realistic interview simulations. | Casana is a talent platform in Munich that connects high-growth companies with freelance IT experts. It qualifies and staffs developers, designers, and engineers within days for digital product projects. Since 2020, Casana has facilitated remote teams from Europe and beyond, integrating with client workflows for agile development in web, mobile, and cloud technologies. | Qualified is a platform headquartered in London that delivers technical assessments to evaluate software engineering candidates. It provides over 100 challenges in JavaScript, Python, React, Node.js, and other technologies, simulating real-world development tasks. Companies such as Slack, Revolut, and Cisco use Qualified to identify top performers among applicants. The San Francisco-founded service, launched in 2012, supports remote hiring processes across global tech teams. | Codewars is a community-driven coding practice platform headquartered in Dublin, Ireland. Users solve over 10,000 katas in languages such as JavaScript, Python, Ruby, and C++ to sharpen problem-solving skills. Participants create challenges, submit solutions, and review code through a ranking system from 8 kyu to 1 kyu. Codewars hosts competitions and integrates with GitHub for developers worldwide. |
| HQ Country | ||||
| HQ City | Indianapolis, IN | Munich | San Francisco, CA | Carson City, NV |
| Deal Date | 22 Jan 2026 | 16 May 2023 | 9 Mar 2023 | 9 Mar 2023 |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
This data is available for Pro users. Sign up to see all Andela acquisitions and their M&A valuation multiples. Start Free Trial | ||||
Andela Competitors
Andela competitors include listed companies like Upwork, Grupa Pracuj, Visional and Seek, and private ones like Apna and Clipboard Health.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $14M | - | $1.1B | 78.6x | ||
| Publicly listed | $788M | $180M | $1.1B | 1.1x | ||
| Publicly listed | $214M | $95M | $1B | 4.4x | ||
| Publicly listed | $515M | $157M | $2.2B | 2.6x | ||
| Publicly listed | $914M | ($63M) | $3.1B | 4.5x | ||
| Private | - | - | $1.3B | - |
Andela Public Comps
Andela is still privately-owned, but its public comps include Moltiply Group, CarTrade Tech, eFinance, Izumi Co, GO, Mony Group, Alma Media, ACV Auctions, TBO.com and BuySell Technologies.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $787M | $148M | 2.4x | 2.3x | 13.0x | 8.6x | |||
| $81M | $33M | 17.5x | 15.6x | 43.2x | 43.8x | |||
| $130M | $67M | 11.8x | - | 22.8x | - | |||
| $3.7B | $300M | 0.6x | 0.6x | 6.9x | 6.8x | |||
| $266M | $49M | 5.4x | 5.3x | 29.4x | 24.7x | |||
| $599M | $184M | 2.3x | 2.3x | 7.5x | 7.1x | |||
| $377M | $110M | 3.8x | 3.7x | 13.1x | 11.6x | |||
| $760M | ($19M) | 2.3x | 2.1x | (89.6x) | 24.8x | |||
This data is available for Pro users. Sign up to see all Andela competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Andela
| When was Andela founded? | Andela was founded in 2014. |
| Where is Andela headquartered? | Andela is headquartered in Lagos, Nigeria. |
| Is Andela publicly listed? | No, Andela is a private, VC-backed company. |
| What is Andela's valuation? | Andela was last valued at $1.5B in its Series E in September 2021. |
| How much funding has Andela raised? | Andela has raised $381M across 6 funding rounds. |
| What was Andela's last funding round? | Andela's last funding round was a $200M Series E in September 2021, led by SoftBank Group. |
| Who are Andela's investors? | Andela's investors include Spark Capital, CRE Venture Capital, Chan Zuckerberg Initiative, Learn Capital, GV, Generation Investment Management, Omidyar Network, GSV Ventures, DBL Partners, Salesforce Ventures and 19 others. |
| What is Andela's revenue? | Andela's latest recorded revenue is $50M (January 2019). |
| What is Andela's revenue multiple? | Andela's latest valuation implies a 14.0x revenue multiple ($700M valuation on $50M of revenue). |
| Which companies are comparable to Andela? | Companies comparable to Andela include Apna, Upwork, Grupa Pracuj, Visional, Seek and Clipboard Health. |
| How many companies has Andela acquired? | Andela has acquired 4 companies, including Woven, Casana, Qualified and Codewars. |
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