Today we are very excited to announce our investment in the Ethereum developer platform Tenderly. We participated in Tenderly’s $3.3M Seed round earlier this year, as well as their recent $15.3M Series A round. The Series A is led by Accel, with participation from Point Nine Capital (who led their seed), Version One, and angel investors.
We believe that decentralized applications (dApps) are the future of the Internet, but it’s still too hard to develop blockchain applications. Creating blockchain and Ethereum products requires developers to invest 10x more time and effort to learn new skills and become productive. That’s a serious barrier to the mainstream adoption of dApps.
Tenderly’s founding team experienced this frustration firsthand and set out to create a platform that supports Ethereum developers every step of the way. By making Web 3.0 development as easy as Web 2.0, Tenderly is paving the way for faster blockchain adoption.
Tenderly already has deep respect within the Ethereum community, as we quickly discovered during our due diligence. Our portfolio companies Uniswap and Nexus Mutual raved about the platform. Companies in this space use Tenderly daily as an essential part of their developer toolbox, including monitoring Ethereum smart contracts, real-time alerting, analytics, troubleshooting and complex custom integrations.
Tenderly was founded in Serbia in 2018 by Andrej Bencic, Bogdan Habic, Miljan Tekic and Nebojsa Urosevic. They are yet another example that amazing companies can be built anywhere. And we’re excited to be a part of their mission to drive the faster adoption of decentralized apps.