Tenderly raises $15.3 million for its Ethereum development platform to push for faster decentralized apps
Belgrade-based Ethereum developer platform Tenderly, has raised $15.3 million in a new Series A funding round which was led by Accel. Existing investors Point Nine and Version One Ventures have also participated in the round with angle investors such as Nicolas Dessaigne and others also joining. The new funding is to be used to further develop their product as well as increase their team power.
Tenderly which was founded in 2018, offers real-time monitoring, alerting, debugging and simulating smart contracts for their decentralized apps. The company has also reported that its simulation mode processes more than three million transactions every day; a number larger than the entire Ethereum network itself. After realizing the time and effort needed for developers to invest for the Ethereum development in order for new skills to come in handy and start seeing results, Tenderly decided it was high time for the process to be simplified.
Co-founder and CEO Andrej Bencic stated that: “We believe that decentralized computer networks, pioneered by Ethereum, will become one of the fundamental pillars of the internet. We want to be the driver of faster technology adoption and help set the standards for professional Ethereum development practices. The goal is to drive innovation by reducing developer friction and shortening the time companies need to get dApps to market,”.
Andrei Brasoveanu, Partner at Accel added that: “The Tenderly team is completely rethinking smart contract development with their suite of tools purpose-built for decentralized applications, which puts a delightful developer experience at its center. The strong adoption by the blockchain community shows how Tenderly is uniquely positioned to meet the growing needs of today’s Web 3.0 developers.”
Source: TechCrunch “Tenderly raises $15.3M to help Ethereum developers ship decentralized apps faster”