Tally, the leading provider of on-chain governance tooling, has closed an $8 million Series A funding round on the heels of explosive growth and demand. This investment will unlock Tally to grow its governance technology and its civic engagement reach. As such, it’ll be able to support many more crypto-native decentralized autonomous organizations (DAOs). Tally is best known for creating the Tally Protocol. This protocol offers the necessary infrastructure to enable the best protocols to efficiently scale and effectively manage their DAOs on-chain.
The funding will help Tally’s governance technology grow to scale. Tally’s protocol is used by DAOs like Arbitrum, Uniswap DAO, ZKsync, Wormhole, Eigenlayer, Obol and Hyperlane to name a few.
Dennison Bertram, CEO and co-founder of Tally, imagines a future with on-chain organizations that may challenge nation states. He highlighted the burdens that these traditional, tortuous practices of creating legal entities to protect your individual liability could add. The expensive and litigious environment of registering foundations has created a significant barrier to wider use.
"We've built this complete stack of software for operating these on-chain organizations," - Dennison Bertram, CEO and co-founder of Tally Protocol
Recent regulatory clarity has new doors for institutional involvement in DAOs. Further still, an overall change in attitudes toward crypto governance in the U.S. has fostered this trend. Reducing barriers to entry Tally wants to tackle low voter turnout and general disinterest that has come to characterize DAO governance.
Bertram is passionate about using on-chain governance and capital formation to remove unnecessary friction from organizational operations. New opportunities Processes that can be digitized and translated into code should go beyond traditional silos of jurisdiction.
"On-chain governance and capital formation could, in theory, dramatically reduce the complexity and cost of forming and operating organizations by moving these processes entirely into software rather than traditional jurisdictions guided by platforms like Tally," - Dennison Bertram, CEO and co-founder of Tally Protocol
Today, Tally’s protocol has matured into a robust software stack for on-chain organizations, powering tens of thousands of decentralized organizations across the Ethereum and Solana blockchains. This evolution addresses critical governance challenges.
Tally is taking on the problems of low voter turnout and voter apathy in DAO governance. The outcome of low voter turnout has resulted in some controversial outcomes in DAO governance.
"Many of the people that you should expect to vote 'no' on something like this didn't show up," - Dennison Bertram
For Tally, creating the most complete software toolkit for managing organizations on-chain represents a revolutionary leap forward in the honesty and transparency of DAO governance.
"This fundraise is really about leaning into the original vision,” - Dennison Bertram
Bertram believes there are more direct, stringent regulations coming in the future. He hopes that bigger entities will get on board and utilize the evolving infrastructure.
“With this clarity, we're going to get a lot more participation, not necessarily from average Joe token holders, but actually from large organizations that depend on the infrastructure they're building on,” - Dennison Bertram
Prior to this Series A investment, Tally raised $7.5 million in 2021 across two different funding rounds. This accomplishment reflects the growing excitement and commitment towards decentralized, on-chain governance solutions.
"Given the new acceptance of crypto as a key driver of future value in America, it's time to scale it beyond crypto and make it a core primitive for creating new organizations,” - Dennison Bertram
