Tenderly, a company that wants to make building blockchain infrastructure products easier for web3 developers “of all skill sets,” has acquired $40 million in a Series B round of funding only months after closing on its Series A.

The money is another illustration of the quick succession of funding rounds in the blockchain infrastructure — and fintech in general — area. According to TechCrunch, Alchemy raised a $200 million extension to its Series C earlier this month, valuing the company at $10.2 billion. That organization aspires to be the beginning for developers interested in creating a blockchain-based product or mainstream blockchain applications.

The primary difference between the two firms is that Alchemy provides node as a service, whereas Tenderly is a platform designed to develop, test, and monitor the health of decentralized applications through its dashboard and API, according to the company. It claims that smart contracts are its primary focus.

Tenderly is used to track the health of apps and smart contracts by “tens of thousands” of developers from apps including Uniswap, Yearn Finance, Circle, Chainlink, Gnosis, Nexus Mutual, Instadapp, DeFi Saver, and NFT marketplace (and decacorn ) OpenSea. The firm claims to collaborate with most of the top 100 ethereum projects.

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The Serbian capital, Belgrade after years of working on the frontlines of software development and being irritated with what they felt were nonexistent tools, Tenderly was created in 2018 by friends Andrej Bencic (CEO), Bogdan Habit (CTO), Miljan Tekic (COO), and Nebojsa Urosevic (Blockchain Infrastructure).

The group claims to have seen the enormous potential of blockchain as the new internet core standard early on. Still, the technology had to be accessible to everyone for it to happen.

“We started Tenderly as four developers who were hyperfocused on a single technology, which was blockchain and ethereum,” Bencic explained.

Have you ever wondered how data and code is stored on Ethereum? 🧐

A bit of a dive into how Smart Contract Storage works, how to use Tenderly State Overrides to Simulate transactions with custom parameters, and why you should care about all of this 👇🥷https://t.co/IwUclVYdo9

— Tenderly (@TenderlyApp) March 18, 2022