Tatum raises $41.5 million for blockchain development platform

London-founded blockchain development platform Tatum has raised $41.5 million in a round led by Evolution Equity Partners.

Tatum’s platform enables easier Web 3.0 development helping companies with little to no blockchain experience build apps at pace. It has broken down the complexity of the blockchain and simplified the application to single lines of code – cutting development times by up to 95%.

“Blockchain has proven essential to the explosive growth and broad innovation of digital finance and Web 3.0,” said Jiri Kobelka, co-founder and chief executive officer, Tatum. “Tatum is the first company to squarely address the complexities, necessary technological expertise, and lengthy development times that blockchain applications require. We have revolutionised blockchain application creation by slashing development times from months or years of engineering time down to just days.”

The funding round which includes Octopus, 3VC, Tensor Ventures and Depo Ventures will allow Tatum to expand its global reach as it invests in marketing, educational efforts, and community building.

To date it already has over 90,000 customers and is growing at a rate of 7,000 new customers a month. streamlining the entire Web 3.0 development process.

“By speeding the development process, Tatum is enabling companies to bring finished blockchain applications into production with an immensely faster time to market,” said Samuel Sramko, co-founder and chief technology officer, Tatum. “The role of blockchain to Web 3.0 and its future cannot be understated, and Tatum is fundamentally changing not only the velocity of development but also the robustness, so that more complex functionality can be more readily accomplished even without the highly technical expertise.”

“Tatum appealed to Evolution based on its disruptive business model and development platform that decreases the time for blockchain development by 95%,” said J.R. Smith, partner, Evolution Partners. “The company has a world-class engineering team driven by a bottoms-up customer acquisition model and has the ability to expand annual customer revenue exponentially.”