Tatum, a firm that provides tools for developing blockchain applications, has announced that it has raised $41.5 million to fund product growth and meet rising global demand. Equity Partners was the lead investor for this round of fundraising, which also included Octopus Ventures, 3VC, Tensor Ventures, Depo Ventures, Leadblock Fund, Circle, and the creators of Bitpanda. The company will use the money to boost its marketing, outreach, and community-building initiatives.
With the funds in, what’s next for Tatum?
Tatum offers a blockchain development platform to facilitate the rapid development of practical and high-quality blockchain applications. The blockchain platform makes it easy to create complex blockchain operations using only a few lines of code. The entire process of developing Web 3.0 is made more efficient as a result of this. The company’s products are in high demand all around the world, and the young firm signs up as many as 7,000 new clients every single month.
Tatum is drastically reducing the time it takes businesses to deploy their blockchain applications from concept to production. The company is currently focusing on positioning its service to assist as many industry stakeholders as possible. To do that, it is utilizing its cutting-edge technology as well as the strength, experience, and dedication of its workforce.
With an initial investment of $8m, the company was able to build out the entire platform and start bringing in clients. Tatum has more than 90,000 users and has become an integral part of the blockchain ecosystem, facilitating the launch of blockchain-based services for both established businesses and new ventures. Its business model is friendly to all users, from developers to institutions. As web3 gains momentum, competition will not only be based on cost but also the efficiency of products available to users. Tatum seems to be doing well on both fronts.