Software company, Andela has raised $200 million in its series E funding round, bringing its total valuation to $1.5 billion. After closing this Series E round, Andela has raised a total of $381 million since being founded in Lagos, Nigeria in 2014, according to Crunchbase data.
Investors who took part in the funding round were SoftBank, Whale Rock, Generation Investment Management, Chan Zuckerberg Initiative and Spark Capital.
As part of the investment, Lydia Jett, founding partner at SoftBank Investment Advisers, will join Andela’s board.
The company says it will use the funding to add to its workforce, particularly in product, engineering and growth. In addition, the company is investing in growth, continued expansion of technology and product development.
SoftBank’s investment in Andela is its second lead investment in quick succession in Africa — it is only coming a month after the $400 million Series C round of fintech platform OPay.
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