QuickNode Raises $60M Series B Funding Led by 10T Holdings

QuickNode, a blockchain Infrastructure as a Service (IaaS) provider, has raised $60 million in a Series B funding round led by 10T Holdings. QuickNode is building infrastructure to support the future of Web3.

The funding round also got participation from Tiger Global, Seven Seven Six, Protocol Labs, and QED, among others.

Thie Series B funding announcement follows the company’s Series A led by Tiger Global in October 2021 of $35 million, Seed Round in March 2021 of $5.3 million, as well as other strategic investments, bringing the total capital raised to just over $105 million.

QuickNode also advances towards unicorn club as the latest funding brings it a fresh valuation of $800 million.

Since its Series A, the company said that it has grown its user base by over 400% and expanded the team by hiring more than 90 new team members across eight countries.

The company plans to use the funds to accelerate the Company’s global expansion and further empower the builders laying the groundwork for a decentralized, globally-connected future.

Since its founding in 2017, QuickNode has established itself as a leader for businesses and innovators requiring 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 time than competitors and 99.99% uptime across 16 chains and 33 networks. In addition, QuickNode’s user-friendly interface and robust, multi-chain developer tool suite have made it the preferred choice of top Web3 businesses and the biggest global brands.

Alex Nabutovsky, CEO and co-founder of QuickNode, said: “At QuickNode, we firmly believe in Web3 as the future of the Internet. Blockchain adoption and development continue to increase year-over-year, and we expect continued momentum in the space.”

With this funding, QuickNode will help streamline the Web2 to Web3 movement at scale by providing developers with the education, performance, reliability, and deployability required to onboard the next billion blockchain users.

QuickNode also plans to double down on continuing to hire the best minds across the globe, hosting community-driven events and workshops, and developing cutting-edge Web3 offerings such as QuickNode Marketplace.

“The industry is about to enter its next era, and with this raise, 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 the industry forward,” said Nabutovsky.

Despite challenging markets in the broader Web3 space in 2022, QuickNode has seen remarkable growth over the past year with its revenue growing 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 on QuickNode, especially over the last few months,” said Nabutovsky.

QuickNode currently provides industry-leading blockchain infrastructure on over 16 blockchains, including elastic APIs, powerful analytics, and expert-crafted resources that enable a wide range of use cases — all backed by end-to-end support and world-class, SOC 2 certified security.

Dan Tapiero, Managing Partner and CEO, 10T Holdings, said: QuickNode’s fast and reliable node infrastructure and easy-to-use platform enable developers to build scalable applications that facilitate user interactions with blockchains. The Company continues to experience tremendous, resilient revenue and customer growth.”

Dan Tapiero will join QuickNode’s Board of Directors to help support its ongoing expansion.

Read Also: Digital Asset Investment Firm 10T Holdings Raises $750 Million

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