Last Updated: October 12, 2023
• Quicknode has raised $60 million in a Series B funding round, bringing its post-valuation to $800 million.
• The funds will be used to further fuel blockchain adoption and streamline the Web2 to Web3 movement at scale.
• Participating investors in the round included 10T Holdings, QED, Tiger Global, Alexis Ohanian’s Seven Seven Six, and Protocol Labs.
Web3 infrastructure firm Quicknode has announced that it has raised $60 million in a Series B funding round, bringing its post-valuation to $800 million. The capital injection was led by 10T Holdings, with QED, Tiger Global, Alexis Ohanian’s Seven Seven Six, and Protocol Labs also participating.
The funds will be used to further fuel blockchain adoption and streamline the Web2 to Web3 movement at scale. This latest round follows Quicknode’s $35 million Series A back in October 2021, which was led by Tiger Global and also saw participation from Seven Seven Six, Soma Capital, Arrington XRP Capital, Crossbeam, and Anthony Pompliano.
Quicknode claims to handle “billions of blockchain calls daily with 2X faster response time than competitors,” and the funds will be used to make new hires, develop more Web3 offerings for its marketplace, and expand the company’s global reach. Despite the crypto winter, the company has reported 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,” said Alex Nabutovs, Founder and CEO of Quicknode. “This new round of funding will enable us to continue to foster a more open, secure, and accessible internet. We are proud to continue building the infrastructure that will make this possible.”
Quicknode is one of many firms working to make blockchain technology more accessible and to streamline the transition from Web2 to Web3. As the company continues to grow, it aims to further its mission of creating a more open, secure, and accessible internet.