Blockchain infrastructure supplier QuickNode has announced it has raised $60 million at a valuation of up to $800 million.
QuickNode, a blockchain infrastructure company, held a $60 million Series B funding round with a $800 million corporate valuation. The listing of significant money participating in the funding round incorporates 10T Holdings, Seven Seven Six, Tiger Global, and so forth.
Founded in 2017, QuickNode specializes in supplying advancement resources on sixteen various blockchains to big organizations, with notable consumers such as BNY Mellon, Samsung, LG, Coinbase, Chainalysis, Nansen, Dune Analytics, Dapp Radar and 1inch Network.
We are past thrilled to announce that we have raised a $60 million Series B funding round led by @10TFund — with the participation of Tiger Global, @sevensevensixAnd @QEDInvestorsamid many others, to fuel our upcoming phase of development and advancement! pic.twitter.com/aWAu4P3WhX
— QuickNode (@QuickNode) January 24, 2023
QuickNode CEO Alex Nabutovsky exposed that the funding round began in September 2022 and concluded in December, a time when the cryptocurrency industry has expert a good deal of volatility because the collapse of the FTX exchange.
The CEO confidently stated that he has not encountered numerous hurdles in the fundraising method simply because “the business and demand for QuickNode’s services is steadily increasing.” The company’s revenues final yr improved 300% more than 2021, with two record quarters in the 2nd half of 2022.
The valuation of this Miami (USA) primarily based enterprise also improved swiftly. In October 2021, the enterprise raised $35 million at a $250 million valuation. For comparison, QuickNode’s competitor Alchemy raised capital at a valuation of up to $ten.two billion in February 2022.
With the new money raised, QuickNode ideas to broaden its personnel from 120 to 180 people today, as nicely as open additional branches in Australia and Asia.
CEO Alex Nabutovsky also announced ideas to problem a governance token to decentralize QuickNode in the close to long term, but may well do a Series C funding round very first.
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