Web3 infrastructure agency Quicknode raised $60 million in a Series B funding spherical, in keeping with an announcement the corporate made on Tuesday. The capital injection brings the corporate’s post-valuation to $800 million, and Quicknode says the funds shall be used to “further fuel blockchain adoption.”
Quicknode Aims to Streamline Web2 to Web3 Movement With $60 Million in Series B Funding Led by 10T Holdings
On Jan. 24, 2023, Quicknode revealed it has raised $60 million in a Series B funding spherical led by 10T Holdings. Other collaborating traders within the spherical included QED, Tiger Global, Alexis Ohanian’s Seven Seven Six, and Protocol Labs. “This latest round will be used to accelerate the company’s global expansion and further empower the builders laying the groundwork for a decentralized, globally-connected future,” Quicknode’s announcement stated.
Quicknode additionally raised $35 million in a Series A in Oct. 2021. That spherical was led by Tiger Global, and Seven Seven Six, Soma Capital, Arrington XRP Capital, Crossbeam, and Anthony Pompliano additionally participated. Quicknode claims to deal with “billions of blockchain calls daily with 2X faster response time than competitors.”
Quicknode rivals embody corporations like Kaleido, Alchemy, Blockcypher, Velas, and Infura. The firm detailed on Tuesday that the funds shall be used to “streamline the Web2 to Web3 movement at scale.” The firm additionally plans to make new hires and develop Web3 choices for the Quicknode market. Despite the crypto winter, the corporate added that “QuickNode has seen remarkable growth over the past year with its revenue growing more than 300%.”
“At Quicknode, we firmly believe in Web3 as the future of the Internet,” Alex Nabutovsky, CEO and co-founder of QuickNode stated in a press release. “Blockchain adoption and development continue to increase year-over-year, and we expect continued momentum in the space. The industry is about to enter its next era, and with this raise, we are preparing for mass adoption of blockchain technology in 2023 and throughout the rest of the decade. We are proud to help our customers scale to their full potential and move the industry forward,” Nabutovsky added.
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Jamie Redman
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