A leading blockchain development platform secures new funding to make Web3 more scalable and accessible.
Miami, FL | February 2, 2023 – QuickNode, one of the most performant end-to-end development platform for Web3 builders, announced the closing of an $60 million Series B funding round led by 10T Holdings, LLC with participation from Tiger Global, 776, Protocol Labs, and QED, among others. This latest round values QuickNode at $800M and will be used to accelerate the company's global expansion and further empower the builders laying the groundwork for a decentralized, globally-connected future.
Since its founding in 2017, QuickNode has established itself as a leader for businesses and innovators that require resolute blockchain development tools that consistently rate best-in-class for speed, reliability, and security — successfully handling billions of blockchain calls daily with 2X faster response time than competitors and 99.99% uptime across 16 chains and 33 networks. In addition, QuickNode's user-friendly interface and robust, muti-chain developer tool suite have made them the preferred choice of top Web3 businesses and the biggest global brands.
Alex Nabutovsky, CEO and co-founder of QuickNode, commented on the announcement, "At QuickNode, we firmly believe in Web3 as the future of the Internet. Blockchain adoption and development continue to increase year-over-year, and we expect continued momentum in the space."
With this funding, QuickNode will help streamline the Web2 to Web3 movement at scale by providing developers with the education, performance, reliability, and deployability required to onboard the next billion blockchain users. QuickNode also plans to double down on continuing to hire the best minds across the globe, hosting community-driven events and workshops, and developing cutting-edge Web3 offerings such as QuickNode Marketplace.
"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," said Nabutovsky.
Despite choppy waters in the broader Web3 space in 2022, QuickNode has seen remarkable growth over the past year, with their revenue growing more than 300%. “Many of our customers have said it best - “In a bear market we build” - and we’ve been thrilled with the adoption we’re seeing on QuickNode, especially over the last few months” said Nabutovsky.
This Series B funding round led by 10T Holdings, LLC comes just over a year after QuickNode announced a $35 million Series A funding round led by Tiger Global in October 2021. In that time, it has grown its user base by over 400% and expanded the team by hiring more than 90 new team members across 8 countries. QuickNode currently provides industry-leading blockchain infrastructure on over 16 blockchains, including elastic APIs, powerful analytics, and expert-crafted resources that enable a wide range of use cases — all backed by end-to-end support and world-class, SOC 2 certified security.
QuickNode is building infrastructure to support the future of Web3. Since 2017, they've worked with hundreds of thousands of top developers and companies, helping scale dApps and providing high-performance access to 16+ blockchains. For more information, please visit www.quicknode.com
This post is commissioned by QuickNode and does not serve as a testimonial or endorsement by The Block. This post is for informational purposes only and should not be relied upon as a basis for investment, tax, legal or other advice. You should conduct your own research and consult independent counsel and advisors on the matters discussed within this post. Past performance of any asset is not indicative of future results.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.