Tenderly offers a developer-focused platform — with a dashboard and API — designed to develop, test and monitor the health of smart contracts and decentralized applications. The platform processes more than 25 million transactions through its virtual machine daily and supports chains including Ethereum, Avalanche, Fantom, Optimism and Arbitrum. Tens of thousands of developers and the majority of the top 100 Ethereum projects use Tenderly; customers include Uniswap, Yearn Finance, Circle, Chainlink, Gnosis, Nexus Mutual, Instadapp, DeFi Saver and OpenSea. The company reported a 500% year-over-year increase in revenue and a 420% bump in users while declining to disclose hard revenue figures. Tenderly plans to use new capital to expand product offerings, drive customer acquisition and partnerships, and hire technical and sales talent. It is opening an office in San Francisco as it scales. Tenderly provides a developer platform that helps Ethereum developers monitor and test the smart contracts that power decentralized apps. Its Visual Debugger is already used by tens of thousands of Ethereum developers to proactively find and fix contract bugs. The company aims to expand its toolset to make building on Ethereum networks easier and to reduce common developer headaches and irregularities. Tenderly is a small team of 14 based in Serbia and says the funding will help it expand its global footprint and add engineering and business hires in other geographies. The startup built most of Tenderly during the bear market and believes core developer interest persists despite cryptocurrency price volatility. To date, most of its customers have been relatively small startups focused on decentralized finance.

Total raised

$55M

Funding rounds

2

Latest round

Series B

Latest activity

Mar 2022