Andela raises $100m investment from Al Gore’s Generation Investment Management

Former US Vice President Al Gore’s investment firm, Generation Investment Management, is leading a $100 million funding round in software development firm, Andela.

This will bring Andela’s venture capital haul to $180 million to date. Generation Investment Management’s deal would be the third-largest venture investment ever for an African startup.

It would be recalled that in June 2016, Andela received funding from the Chan Zuckerberg Initiative and also raised an additional $40 million in a third venture capital funding round in 2017, bringing its total capital raised to $80 million led by CRE Venture Capital, a South African venture capital firm, and backed by DBL Partners, Amplo, Salesforce Ventures, and TLcom Capital. This financing round is likely the largest done by an African VC firm.