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USDC issuer Circle has backed blockchain developer platform Tatum as infrastructure startups continue to convince investors to part with their cash. 

The $41.5 million round, which venture capital investor Evolution Equity Partners led, also featured participation from Octopus Ventures, Leadblock Partners and the founders of Bitpanda among others, according to a release on Wednesday. A request to disclose its valuation was not met by the time of publication.

Founded in 2018, the platform offers products such as NFT plug-ins for WordPress, software development kits for over 40 protocols and an API that enables speedy NFT minting across eight blockchains. 

“By speeding the development process, Tatum is enabling companies to bring finished blockchain applications into production with an immensely faster time to market,” said founder and chief technology officer Samuel Sramko in the statement. “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.”

The company claims to have over 90,000 customers including startups and Fortune 500 companies and is onboarding over 7,000 new customers monthly. It says that the funding will be used to invest in marketing and educational efforts. Other crypto infrastructure companies have also sought to build out educational features — for instance, Alchemy bought the Ethereum developer education platform Chainshot in August. 

Venture capital firms continue to pour money into startups in the crypto infrastructure space. Earlier today, web3 developer platform SettleMint announced a €16 million ($15.5 million) Series A round. In August, Haun Ventures led a $24 million round into web3 developer platform Thirdweb and last month Variant led an $18.6 million fundraise for cross-chain developer platform Hyperlane. Moreover, much of Y-Combinator’s latest cohort compromised of web3 infrastructure startups. 

According to The Block Research, infrastructure firms raised $1.8 billion last quarter — second only to NFTs and Gaming.

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