Web3 Infrastructure Startup Kurtosis Raises $20M In Series A Funding

Kurtosis has announced the successful completion of a $20 million Series A funding led by Coatue, and with participation from Coinbase Ventures and more.
Image source: kurtosis.com

Quick take:

  • Kurtosis has closed a $20 million funding round led by Coatue.
  • The Series A fundraising also attracted participation from SignalFire, Alchemy Ventures, Coinbase Ventures and the Chainsmokers’ Mantis VC, among others.
  • The fund will be used to accelerate the development of a blockchain infrastructure protocol to help developers easily build distributed systems.

Kurtosis has completed a $20 million funding round led by Coatue. The Series A fundraising also attracted participation from Coinbase Ventures, Crosstimbers Ventures, the Chainsmokers’ Mantis VC, and angel investor Olivier Pomel, CEO and founder of Datadog, among others.

The Web3 infrastructure startup is raising funds to build a tool that will help developers launch high-stake, large-scale distributed systems. 

Web3 is generally described as the next generation of the internet leveraging emerging technologies like blockchain, artificial intelligence and decentralised apps. Dubbed the next iteration of the web and taking over from Web2 (characterised by social media networks and mobile applications), Web3 is pioneering a new age in gaming, where ownership is shared with the community.

It is also the primary underlying technology that the 3D virtual space of interconnected immersive worlds called the metaverse is being built. Some of these products leverage distributed protocols to enable high-stake, large-scale projects to run smoothly.

Kurtosis is building a tool that will make it simple for developers to develop such projects, allowing them to focus more on the innovation side of things.

The company was founded by former Palantir engineering leads Galen Marchetti and Kevin Today.

“Distributed systems are hard to develop today, and a lot of the problems come from managing the many different types of environments that teams need across the development cycle,” explains Galen Marchetti, CEO and co-founder.

“As engineers, we spend a lot of time on repetitive work configuring and manipulating environments for development and testing. We wanted to build a tool that lets developers focus on technical innovation instead. This is our mission at Kurtosis – to build a tool that enables engineers to build distributed systems with the same ease as building single-server applications,” he added.

Kurtosis previously raised $2.5 million in a seed round in 2021, which attracted participation from Polosukhin, co-founder of the NEAR protocol, among other leading Web3 investors.

The company also announced that former Cypress.io Director of Developer Experience, Amir Rustamzadeh, will be joining the team as founding Head of Product.

The company also revealed that Ethereum core developers across all nine major client teams are using Kurtosis to build, test and debug software for “The Merge”.

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