Web3 infrastructure company Quicknode has raised $60 million in a Series B funding round, according to a company announcement on Tuesday. The capital infusion brings the company’s valuation to $800 million, which Quicknode says it will use to “further drive blockchain adoption.”
Quicknode aims to streamline the move from Web2 to Web3 with $60 million in Series B funding led by 10T Holdings
On January 24, 2023,revealed that Quicknode has raised $60 million in a Series B funding round led by 10T Holdings. Other participating investors in the round include QED, Tiger Global, Alexis Ohanian’s Seven Seven Six, and Protocol Labs. Quicknode’s announcement stated, “This latest round will be used to accelerate the company’s global expansion and further strengthen the builder’s foundation for a distributed, globally connected future.”
Quicknode also raised $35 million in Series A in October 2021. That round was led by Tiger Global, with participation from Seven Seven Six, Soma Capital, Arlington XRP Capital, Crossbeam, and Anthony Pompliano also participated.Quicknode claims to process “billions of blockchain calls daily with a response time twice as fast as competitors.”
Quicknode’s competitors include companies such as Kaleido, Alchemy, BlockSeefer, Verus, and Infura. The company revealed Tuesday that it will use the funds to “massively streamline the Web2 to Web3 movement.” The company also plans to make new hires and develop a Web3 offering for the Quicknode market. Despite the crypto winter, the company has seen “remarkable growth over the past year, with QuickNode growing its revenue by over 300%.” It added.
“At Quicknode, we firmly believe in Web3 as the future of the Internet.” Alex Nabutovsky, CEO and co-founder of QuickNode, said in a statement.” Blockchain adoption and development continues to increase year over year, and we expect momentum to continue in this area. The industry is about to enter its next era and this procurement will help us prepare for the 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,” added Navtovsky.
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