Kurtosis, a crypto-focused developer tool system,has raised $20 million in a Series A round led by tech hedge fund Coatue.
Investors in the round
- Coinbase Ventures
- The Chainsmokers’ Mantis VC
- Olivier Pomel, angel investor, CEO and founder of Datadog
About a year ago, Hustlefund had raised $ 2.5 million in funding from the seed round in August 2021 led by Signalfire with the participation of Alchemy Ventures, Figment and Illia Polosukhin, co-founder of the NEAR protocol.
This company, the former Palantir engineering leaders Galen Marchetti and it was founded by Kevin Today in the hope of simplifying tools for developers building on Web3. The company, which is two years old, currently provides services for the Ethereum, Avalanche and NEAR ecosystems.
Founding CEO of Kurtosis Marchetti : “We needed to raise capital because the company started as just me and my co-founder, and the more we learned about the problems people face in these [blockchain] environments, the more we realized the software we needed to create as two developers.
It takes us five years, which is a very long time, and we have developed enough conviction that this tool is really useful for the people we work with and we want to go faster.” said.
Marchetti, said that the funds and capital received will be used to hire new engineers and product specialists in the developer team area, thereby launching a new product in the next 6 to 12 months.
Marchetti“The greatest demand revolves around the testing of use cases,” he said. “Many people want to do more advanced tests that involve shadow bifurcation in different types of production systems.”
What is Shadow Bifurcation?
Shadow bifurcation it is to have the data that a normal main network has, but to be able to use them without financial risk and fiddling with software tools.
Marchetti, said that many developers today do not have a private or secure testnet environment to build on.
As a result, Marchetti said that many hacks and bugs in the web3 domain are due to the poor Decoupling of the production system due to the lack of ability to build in an early-stage environment.
Marchetti, “Developers need a place where they can play games and see if the changes they make to the system are safe or work,” he said. “It’s like building an airplane without using an air tunnel on the ground. There are a lot of examples where the plane crashed immediately. Same thing here.”
Marchetti, said that Kurtosis plans to continue building tools that simplify the ability of engineers to develop on Web3 in the long term. “I think we believe that every organization can create their own test networks and development networks that are private and that they don’t want the outside world to see. It was configured exactly for the use case they were testing.”
Kurtosis The next generation development platform for decentralized systems. Its mission is to make developing a distributed system as easy as creating a single-server application.
Currently, Kurtosis is being used by teams building some of the largest and most complex distributed systems in production today: Decentralized blockchains that support the web3 ecosystem.
Kurtosis is an established platform for organizing distributed system environments that allows easy creation and modification of stage-appropriate distributions at the initial stages of the development cycle (prototyping, testing).
Kurtosis is a platform that can think forward. For this reason, they announce that they are looking for teammates, especially on Twitter and other social media accounts.
It seems obvious where and how they want to use Funds and Capital. They want to create a sustainable system going forward.
With the development of the team, they aim to create a new generation development platform for decentralized systems, as well as an ecosystem that can become as easy as creating a single-server application as a mission.