Home Blockchain QuickNode raises $60M at $800M valuation to change into the ‘AWS or Azure of blockchain’ – TechCrunch

QuickNode raises $60M at $800M valuation to change into the ‘AWS or Azure of blockchain’ – TechCrunch

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22

QuickNode, a blockchain deployment platform, has raised $60 million in a Sequence B spherical for an $800 million valuation, the corporate’s CEO and co-founder, Alex Nabutovsky, informed TechCrunch.

The spherical was led by 10T Fund, with participation from Tiger World, Seven Seven Six Ventures and QED Buyers, amongst others. This fundraise comes about 15 months after the corporate’s $35 million Sequence A spherical. In whole, the agency has raised greater than $105 million, Nabutovsky stated.

“Once we raised a $35 million spherical, we have been 20 individuals. Now we’re over 120 individuals,” Nabutovsky stated. “We’re going to proceed increasing the crew. The quantity of enterprise coming in is unimaginable, so we need to proceed constructing these abstraction layers, develop our know-how and increase to new areas.”

Whereas the capital will give attention to enlargement, the corporate additionally desires to make use of the funding for rising blockchain adoption, Nabutovsky stated. “If we’re going to have mass blockchain adoption like we noticed up to now 12 months, you could present enterprise-grade infrastructure” he stated.

QuickNode was based in 2017 and aimed to deliver Internet 2.0 infrastructure to web3, however snowballed over time, Nabutovsky stated. The third and fourth quarters of 2022 have been “report quarters for income,” because it rose by over 300% because of Internet 2.0 giants and web3-native corporations piling into the area, he added.

Its buyer base contains main Web2.0 corporations like Twitter and Adobe in addition to web3 platforms like Coinbase, OpenSea, Chainlink, 1inch Community, Dune Analytics and Phantom.

The platform handles over 200 billion API requests month-to-month, and is “all the time accessible” with 99.99% uptime, which implies there’s solely 4 days of downtime per 12 months, in keeping with Nabutovsky. “Loads of our clients got here right here as a result of we’re in a position to assure 99.99% reliability, latency and velocity,” he stated.

It additionally works with 16 blockchains, together with Bitcoin, Ethereum, Solana, Polygon, Binance Good Chain, Avalanche and Abritrum, in keeping with its website. “We plan so as to add one other 4 to 5 chains at minimal by the tip of this 12 months,” Nabutovsky stated.

“We’ve over 50,000 builders on the platform continuously requesting new issues. However for us, the roadmap is all the time the addition of protocols and dealing with these foundations. It’s not simply having a protocol, however a relationship to construct with the foundations to be an extension of their ecosystems so that they and their builders can have a greater expertise,” he stated.

The long-term aim for QuickNode is “easy,” Nabutovsky stated.

“We need to get to the purpose the place any firm that wishes to construct or work together with blockchain [technology] will use us,” Nabutovsky added. “We wish to be the AWS or Azure of blockchain. The business may be very ripe for that and the manufacturing occurring is staggering.”

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