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

Andela Overview

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

NigeriaLagos

Website

andela.com

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
Andela valuation by funding round
DateStageValuationRevenue Multiple
Sep 2021Series E$1.5B-
Jan 2019Series D$700M14.0x

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

Andela revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jan 2019$50M$700M14.0xSeries 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

Andela funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2021Series ESoftBank Group (lead); Spark Capital; Chan Zuckerberg Initiative; Generation Investment Management; Whale Rock Capital Management$200M$1.5BAndela, 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 2019Series DGeneration Investment Management (lead)$100M$700MAndela 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 2017Series CCRE 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 2016Series BChan 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 2015Series ASpark 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 2014SeedLearn 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

Investors in Andela by funding rounds participated
InvestorHQRoundsRoleFirst check
Spark CapitalUnited StatesSan Francisco, CA4LeadJun 2015
CRE Venture CapitalUnited StatesNew York City, NY3LeadSep 2014
Chan Zuckerberg InitiativeUnited StatesSan Francisco, CA3LeadJun 2016
Learn CapitalUnited StatesSan Francisco, CA2ParticipantSep 2014
GVUnited StatesSan Francisco, CA2ParticipantJun 2016
Generation Investment ManagementUnited KingdomLondon2LeadJan 2019
Omidyar NetworkUnited StatesSan Francisco, CA2ParticipantSep 2014
GSV VenturesUnited StatesSan Francisco, CA2ParticipantSep 2014
DBL PartnersUnited StatesSan Francisco, CA1ParticipantOct 2017
Salesforce VenturesUnited StatesSan Francisco, CA1ParticipantOct 2017
Chris HughesUnited StatesWashington, DC1ParticipantSep 2014
TLcom Capital PartnersUnited KingdomLondon1ParticipantOct 2017
AmploUnited StatesUnited States1ParticipantOct 2017

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Acquisitions 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

Woven
Casana
Qualified
Codewars
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 CountryUnited StatesGermanyUnited StatesUnited States
HQ City
Indianapolis, IN
Munich
San Francisco, CA
Carson City, NV
Deal Date22 Jan 202616 May 20239 Mar 20239 Mar 2023
Valuationundisclosedundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Andela Competitors

Andela competitors include listed companies like Upwork, Grupa Pracuj, Visional and Seek, and private ones like Apna and Clipboard Health.

Public and private companies comparable to Andela
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ApnaIndiaBangalorePrivate$14M-$1.1B78.6x
UpworkUnited StatesUnited StatesPublicly listed$788M$180M$1.1B1.1x
Grupa PracujPolandPolandPublicly listed$214M$95M$1B4.4x
VisionalJapanJapanPublicly listed$515M$157M$2.2B2.6x
SeekAustraliaAustraliaPublicly listed$914M($63M)$3.1B4.5x
Clipboard HealthUnited StatesSan Francisco, CAPrivate--$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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Moltiply Group$787M$148M2.4x2.3x13.0x8.6x
CarTrade Tech$81M$33M17.5x15.6x43.2x43.8x
eFinance$130M$67M11.8x-22.8x-
Izumi Co$3.7B$300M0.6x0.6x6.9x6.8x
GO$266M$49M5.4x5.3x29.4x24.7x
Mony Group$599M$184M2.3x2.3x7.5x7.1x
Alma Media$377M$110M3.8x3.7x13.1x11.6x
ACV Auctions$760M($19M)2.3x2.1x(89.6x)24.8x

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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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