Tenderly, a leading platform for blockchain developers that facilitates the creation of innovative web3 products, has secured a $40 million Series B investment. The financing was led by the Spark Capital fund with the participation of existing investors – the Accel and Point Nine Capital funds. The other investors who participated include Abstract Ventures, Coinbase Ventures, Uniswap, Daedalus, and individuals such as Guillermo Rauch (CEO Vercel), Jinglan Wang (Co-Founder and CEO Optimism), Eric Ries (Founder of Long-Term Stock Exchange) and Tihomir Bajić (CEO of LTSE Software)
The company is currently experiencing a very significant growth where the number of registered users has increased by 420% compared to the last year, while revenues have increased by 500%. Tenderly plans to use the latest investment for further product development, attracting new users and partners, as well as expanding the teams in Belgrade and San Francisco. Also, part of this investment will be allocated to the development of Tenderly Garage, a project that aims to connect the local startup community through sharing relevant knowledge and networking.
Andrej Benčić, founder and CEO of Tenderly, points out that the unlimited possibility of innovation and open collaboration make blockchain the industry of the future, adding the following:
We have secured our place in this industry by building a unique platform that aims to help all engineers regardless of their skill level. We are proud of the fact that Tenderly is the first choice of all relevant blockchain companies and the new investment will allow us to take advantage of that situation to ensure continued growth.
In addition, we also want to give back to the local community and help others in the same way we were helped when we started. That is why we are working on launching the Tenderly Garage initiative, which will serve as a platform for educating and connecting the startup community in Serbia.
