November Private Market UpdateThe private market one year past the peak - down, not out
November Private Market Update
Andela was founded in 2014 by Christina Sass, Ian Carnevale, Iyinoluwa Aboyeji, and Jeremy Johnson. CEO Johnson told Yahoo Finance "not to expect an IPO announcement soon, though it is the probable long-term outcome for Andela investors." These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
One of Africa's largest tech companies, Andela is a recruitment platform that pairs software engineers with companies around the world. In 2021, Andela became the latest company to join the small group of African unicorns. The company has not yet made any acquisitions, but Johnson has stated his intent to begin acquiring startups, adding that “there’s a pretty reasonable chance that some will be in Africa.” Andela has raised $381 million in venture capital funding, most recently in a $200 million round led by SoftBank's Vision Fund 2. Andela's latest valuation placed the company at $1.2 billion.
Andela does not currently have an official ticker symbol because this company is still private. Register today to connect with our Private Market Specialists and learn more about new pre-IPO investment opportunities.
| Date | Funding Round | Funding Raised | Price per Share | IPO Valuation |
|---|---|---|---|---|
| 9/22/2021 | Series E | $150MM raised | $XXX.XX | $XXX.XX |
| 1/23/2019 | Series D | $100MM raised | $XXX.XX | $XXX.XX |
| 10/10/2017 | Series C | $40MM raised | $XXX.XX | $XXX.XX |
| 6/16/2016 | Series B | $23.92MM raised | $XXX.XX | $XXX.XX |
| 7/17/2015 | Series A and A-1 | $16.24MM raised | $XXX.XX | $XXX.XX |
