setting the scene
- let’s explain the blockchain with a familiar analogy: word docs vs. google docs 📝
- word doc: one editor sends a doc to those they want to share it with
- google doc: multiple editors and viewers can be shared on the same doc
- many institutions currently store data in word doc format, but blockchain developers imagine a future where data is stored in the collaborative, google doc format 🔮
- but there’s a problem: the data is stored in large chunks of code that take hours to decipher and process🧑🏻💻
- this week’s company provides a solution to quickly turn that block of code into human-readable data 🔐
in a sentence
Transpose provides software for accessing human-readable blockchain data at scale
- accessing: the platform translates Block, ENS, NFT, and Token data and makes it digestible to developers
- scale: blockchain data requires heavy processing before a computer can make sense of it
bulleted version: similar to how you can paste a paragraph into Google Translate; Transpose translates data on the blockchain into language users can read 💬
the basics
- industry: business/productivity software, data infrastructure
- headquarters: New York, NY 🚕
- year founded: 2022
- company size: < 5 employees 💼
- investors: HOF Capital, MaC Venture Capital, Pareto Holdings, Soma Capital
- amount raised: 3m
- stage: seed 🌱
due diligence
what we like
- 🌐web3 activity: as decentralized web development continues, developers will benefit from avoiding the time-consuming task of manually interpreting their blockchain data
- 🆓 starting free: Transpose will attract early adopters by allowing users across industries to test out its APIs for free
- 🪡 SaaS model: the company plans to sell its products via subscriptions, bringing in reliable revenue and differentiating itself from other riskier web3 companies
potential risks
- ✅product market fit: while offering free products draws users to the platform, Transpose must figure out how to convert these users to paying customers
- ⚠️riskier clients: the platform targets web3 developers, who will likely churn at higher rates and bring in less revenue than an enterprise customer
- 📈scale: Transpose plans to provide company-specific solutions down the line, which is difficult to scale
founder profiles
- Alex Langshur (prev. Deep Grey Research)
- Michael Calvey (prev. Morgan Stanley)
comps
why Transpose: while web3 is still in its early days, Transpose’s tools will serve useful as developers aim to quickly understand their data and increase productivity 🤔💡