25. September 2023

QuickNode Closes $60 Million Funding Round, Valuing Company at $800 Million

• Blockchain development platform QuickNode has closed a $60 million funding round as part of a global expansion.
• The Series B raise valued QuickNode at $800 million and was led by venture capital firm 10T Holdings.
• QuickNode provides infrastructure services for over 16 blockchains, including Ethereum, Matic, Optimism, Arbitrum and Solana.

QuickNode, a leading blockchain development platform, recently announced the closure of a $60 million Series B funding round, raising the company’s total valuation to $800 million. This significant funding round was led by 10T Holdings, a venture capital firm, and included participation from Tiger Global, Seven Seven Six, and QED. This was QuickNode’s second major funding round, following the $35 million raise the company secured just seven months after its formation.

The capital raised will be used to help QuickNode expand globally and facilitate the transition to Web3 applications at scale. To this end, QuickNode will be providing developers with the necessary tools to onboard a large number of new blockchain users. Since its last funding round, QuickNode has managed to increase its user base by over 400%, now providing infrastructure services for over 16 blockchains, including Ethereum, Matic, Optimism, Arbitrum, and Solana.

It is no secret that venture capital interest in blockchain projects has diminished in recent times, but Web3-focused plays continue to attract attention. For instance, Hong Kong investment fund HashKey Capital recently closed a $500 million funding round to back up-and-coming projects in the Web3 space.

In addition to expanding its user base, QuickNode will also be investing in research and development to create better products and services for its users. The company is also planning to launch a new suite of products and services later this year to help developers and users make the most out of Web3 technologies.

Overall, QuickNode’s $60 million funding round is a significant milestone for the company, which is well-positioned to become a leading player in the Web3 space. With the right investments and strategies in place, QuickNode is set to further expand its user base and revolutionize the blockchain industry.