Quicknode Raises $60 Million in Series B to ‘Fuel Blockchain Adoption’ and Expand Globally

Web3 infrastructure agency Quicknode raised $60 million in a Series B funding spherical, in response to 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 “additional gas 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 taking part buyers within the spherical included QED, Tiger Global, Alexis Ohanian’s Seven Seven Six, and Protocol Labs. “This newest spherical shall be used to speed up the corporate’s world enlargement and additional empower the builders laying the groundwork for a decentralized, globally-connected future,” Quicknode’s announcement mentioned.

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 every day with 2X sooner response time than opponents.”

Quicknode opponents embody companies like Kaleido, Alchemy, Blockcypher, Velas, and Infura. The firm detailed on Tuesday that the funds shall be used to “streamline the Web2 to Web3 motion 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 exceptional progress over the previous 12 months with its income rising greater than 300%.”

“At Quicknode, we firmly consider in Web3 as the way forward for the Internet,” Alex Nabutovsky, CEO and co-founder of QuickNode mentioned in a press release. “Blockchain adoption and growth proceed to extend year-over-year, and we anticipate continued momentum within the house. The business is about to enter its subsequent period, and with this elevate, we’re getting ready for mass adoption of blockchain expertise in 2023 and all through the remainder of the last decade. We are proud to assist our clients scale to their full potential and transfer the business ahead,” Nabutovsky added.

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