QuickNode Raises $60M Series B Round To Deploy Blockchain With Fuel
Funds will be used to fuel QuickNode’s next phase of growth and development
MIAMI, 24 January 2023 /PRNewswire/ — QuickNode (the “Company”), the leading end-to-end development platform for Web3 builders, today announced the closure of a 60 million dollars Series B funding round led by 10T Holdings with participation from, among others, Tiger Global, Seven Seven Six, Protocol Labs and QED, valuing QuickNode at 800 million dollars. This latest round will be used to accelerate the company’s global expansion and further strengthen the builders that are laying the foundation for a decentralized, globally connected future.
Since its founding in 2017, QuickNode has established itself as a leader for enterprises and innovators who require resolute blockchain development tools that consistently rate best-in-class for speed, reliability and security. The company successfully handles billions of blockchain calls daily with 2X faster response times than competitors and 99.99% uptime across 16 chains and 33 networks. In addition, QuickNode’s easy-to-use interface and robust, multi-chain developer toolkit have made it the preferred choice among top Web3 enterprises and the largest global brands.
Alex NabutovskyCEO 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 continues to increase year over year, and we expect continued momentum in space.”
With this funding, QuickNode will help streamline the Web2 to Web3 movement at scale by providing developers with the education, performance, reliability, and deployment capabilities required to bring the next billion blockchain users on board. QuickNode also plans to double down on continuing to hire the best minds worldwide, host community-driven events and workshops, and develop cutting-edge Web3 offerings such as QuickNode Marketplace.
“The industry is about to enter its next era, and with this surge 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 industry going forward,” Nabutovsky said.
Despite challenging markets in the wider Web3 space in 2022, QuickNode has seen remarkable growth over the past year with revenue growth of 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 for QuickNode, especially in recent months,” Nabutovsky said.
This Series B funding round led by 10T Holdings comes just over a year after QuickNode announced a 35 million dollars Series A funding round led by Tiger Global i October 2021. In that time, the company has grown its user base by over 400% and expanded its team by hiring more than 90 new team members in eight countries. QuickNode currently offers industry-leading blockchain infrastructure on over 16 blockchains, including elastic APIs, powerful analytics and expertly crafted resources that enable a wide range of use cases – all backed by end-to-end support and world-class, SOC 2 certified security.
Investor quotes:
Dan Tapieromanaging partner and CEO, 10T Holdings, commented, “We are thrilled to partner with QuickNode, whose fast and reliable node infrastructure and user-friendly platform enable developers to build scalable applications that facilitate user interactions with blockchains. The company continues to experience tremendous, robust revenue and customer growth, and I look forward to joining QuickNode’s board of directors to help support its ongoing expansion.”
Alexis OhanianFounder, Seven Seven Six, added: “The long-term health and success of Web3 depends on scalability, availability and interoperability. QuickNode is one of those rare companies that both keeps up with the speed of the Web3 space while continuously pushing After having invested early in the company’s seed round, we are excited to be a part of QuickNodes’ Series B and believe that the foundational technology and platform is building not only to meet the current needs of the best Web3-native enterprises and flagships globally. brands, but also those of the decentralized web of the future.”
Christian LimonPrincipal, QED Investors, commented, “QED could not be more excited to join QuickNode on the next phase of its incredible growth journey as blockchain technology moves into a new era of mass adoption. It is one of the rare companies that can keep pace with the speed of innovation while prioritizing laying a solid foundation that an entire ecosystem—as well as hundreds of millions of future users—can rely on.We’re not only impressed with QuickNode’s consistency and high performance, but we truly respect and admire the team like Alex have collected.”
For more information, please visit www.quicknode.com and for questions about financing, get in touch [email protected].
About QuickNode
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.
Media contact
Dillon Arace
M Group Strategic Communications (on behalf of QuickNode)
[email protected]
SOURCE QuickNode
