boldstart ventures
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boldstart ventures

Tres, the first financial data lake for crypto companies — welcome to boldstart

As a day one partner for technical founders, we ❤️ to invest in founders building 🏗 the future of enterprise infrastructure including decentralized. Ever since we first partnered with Changetip in 2014, we’ve made additional day one investments in crypto infrastructure startups like Blockdaemon, Fireblocks, Amberdata, Upstream, and many more.

While many crypto startups have grown exponentially over the years, the digital asset data infrastructure serving these companies has not kept pace resulting in an inability to easily monitor, analyze, and automate the finance function for crypto. Tres is solving this massive problem as it has built the first financial data lake for Web3. Today, we’re thrilled to announce that boldstart led Tres’ $7.6M initial round of funding joined by friends at F2, Mantis, New Form, Kenetic, Blockdaemon Ventures and Alchemy, and strategic angel investors including founders at Fireblocks, Blockdaemon, Chainalysis, Curv, and IntoTheBlock. We’re also excited to partner on day one with another founding team out of 🇮🇱 along with others like Snyk, BigID, Jit, Reco, Cloudquery, and many more.

Here’s how it started only 8 months ago…

Crypto finance and treasury was an area we were exploring as we heard over and over from many of our friends about how much time and effort was spent building spreadsheets which we were weeks behind in accuracy of positions around tokens. After a few conversations, it was clear that Tal and Eilon not only deeply understood the pain, but also knew that the most important elements of their moat would start with trust in the accuracy of both on-chain and off-chain data along with the design and UI components which would make it easy for users to consume.

It certainly helped that Eilon had this kind of experience having built large scale data systems from his experience in the IDF cybersecurity unit and also as a technical cofounder of Sam Seamless Network, advanced threat intelligence for IoT. I got to know Tal while collaborating with him at F2 where he was making investments in enterprise infra and exploring crypto. I was always impressed with Tal from his hustle, GTM experience building out Junction, and his leadership experience from the IDF.

One of the important signs of early success for a startup is product velocity and then closely behind, hiring velocity. As I like to tell startups, particularly in infra, show as well as tell. Here’s a picture of Eilon just a few days after our first meeting working on the Figma mockups for Tres. They also had their list of 8 potential hires, all technical and ready to go. I knew from the very beginning that this was going to be a team that would move fast.

Fast forward 8 months and Tres has launched its product and has Web3 customers in the US, Israel and Europe and has monitored, analyzed and reconciled crypto assets of more than $40B dollars. Yes, $40B!

Tres offers the first enterprise-grade financial data lake for Web3 companies looking to rapidly automate one source of truth across high volumes of blockchain data. Tres’s next-level data coverage and integrity empowers finance teams to monitor, manage and automate their Web3 finance. Its data engine can process tens of millions of transactions per month, 10X more than any other existing tool.

Welcome to the Boldstart family Tres and try it out here.

More on the round from TechCrunch.



day one partner and true believer for developer first & SaaS founders

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Ed Sim

@boldstartvc day one partner + true believer for developer first, crypto infra & SaaS founders