Quicknode Raises $60 Million in Series B to ‘Fuel Blockchain Adoption’ and Expand Globally – Bitcoin News

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

Quicknode aims to ease the Web2 to Web3 movement with $60 million in Series B funding led by 10T Holdings

January 24, 2023, Quicknode revealed that it has raised $60 million in a Series B funding round led by 10T Holdings. Other participating investors 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 empower builders to lay the groundwork for a decentralized, globally connected future,” Quicknode’s announcement said.

Quicknode also raised $35 million in Series A in October 2021. That 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 per day with 2X faster response time than competitors.”

Quicknode competitors include firms such as Kaleido, Alchemy, Blockcypher, Velas and Infura. The company detailed Tuesday that the funds will be used to “streamline the Web2 to Web3 movement at scale.” The company also plans to hire new employees and develop Web3 offerings for the Quicknode marketplace. Despite the crypto winter, the company added that “QuickNode has seen remarkable growth over the past year with its revenue growing over 300%.

“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 after year, and we expect continued momentum in the space. The industry is about to enter its next era, and with this upswing, we are poised 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,” added Nabutovsky.

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Jamie Redman

Jamie Redman is the News Leader at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about the disruptive protocols coming out today.