Quicknode Raises $60M in Series B to Drive Blockchain Adoption and Scale Globally

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Web3 infrastructure company Quicknode has raised $60 million in a Series B funding round, according to an announcement made by the company on Tuesday. The capital injection brings the company’s post-valuation to $800 million, and Quicknode says the funds will be used to “further fuel blockchain adoption.”

Quicknode Aims to Streamline Web2 to Web3 Movement with $60M Series B Funding Led by 10T Holdings

On January 24, 2023, Quicknode disclosed that it had raised $60 million in a Series B funding round led by 10T Holdings. Other investors participating in the round 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 builders by laying the foundation for a globally-connected, decentralized future,” Quicknode’s announcement said.

Quicknode also raised $35 million in a Series A round in October 2021. This round was led by Tiger Global, and Seven Seven Six, Soma Capital, Arrington XRP Capital, Crossbeam, and Anthony Pompliano also participated. Quicknode claims to handle “billions of blockchain calls daily with 2x faster response time than competitors”.

Quicknode’s competitors include companies like Kaleido, Alchemy, Blockcypher, Velas, and Infura. The company clarified on Tuesday that the funds will be used to “streamline the Web2 to Web3 movement at scale.” The company also plans to make new hires and develop Web3 offerings for the Quicknode marketplace. Despite the crypto winter, the company added that “QuickNode has experienced remarkable growth over the past year, with revenue growing over 300%.”

“At Quicknode, we strongly believe that Web3 is the future of the Internet,” said Alex Nabutovsky, CEO and co-founder of QuickNode in a statement. “Blockchain adoption and development continues to increase year over year, and we anticipate continued momentum in the space. The industry is about to enter its next era, and with this increase, we are preparing for the mass adoption of blockchain technology in 2023 and throughout the decade. We are proud to help our customers reach their full potential and drive the industry forward,” added Nabutovsky.

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What do you think of Quicknode’s latest funding round? Share your opinion in the comments below.

Jamie Redman

Jamie Redman is the news manager for Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about disruptive protocols emerging today.

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