Blockchain infrastructure startup QuickNode raises $35M
Blockchain infrastructure platform QuickNode Inc. today announced it has raised $35 million in new funding led by Tiger Global.
The Series A round also included participation from Alexis Ohanian’s Seven Seven Six, Soma Capital, Arrington XRP Capital, Crossbeam Ventures and entrepreneur Anthony Pompliano.
QuickNode provides developers the tools and infrastructure necessary to quickly build distributed apps that run on the blockchain, also known as web3 applications. The company says its service offering provides high-performance, low-latency and globally available access to its customers.
The company’s platform currently supports more than 10 blockchains, including Ethereum, bitcoin, Solana, xDai, Matic/Polygon, Binance Smart Chain, Terra, Celo, Fantom and Optimistic Ethereum.
“Blockchain and cryptocurrency are eating the world,” said QuickNode co-founder Alex Nabutovsky. “We are seeing businesses from all verticals looking at blockchain-enabled software roll out in 2022 and beyond.”
According to the company, QuickNode currently serves more than 70 billion requests per month. Demand for the provider’s services increased dramatically this year as companies continued to adopt blockchain technology as part of their own product strategies.
Customers of the platform include developers new to the blockchain ecosystem to crypto-native projects such as nonfungible token and wallet providers for large institutions. Some notable customers of QuickNode include such names as PayPal Inc., blockchain oracle Chainlink, crypto market tracker CoinGecko and the NFT marketplace Rarible.
“We know that blockchains are experiencing a Cambrian explosion, but most of today’s tooling and infrastructure doesn’t meet the rapidly accelerating demand led by the enterprises enabling blockchain experiences for their customers,” said TigerGlobal Partner John Curtius. “QuickNode is at the center of a profound shift in the building blocks that power value transfer on the internet.”
QuickNode intends to use the new financing to grow the company’s services to support even more blockchains and continue to expand product offerings.
With the rate of blockchain adoption, QuickNode expects that it will need to keep up with considerable growth and scaling in order to provide the tools that developers need. The company has added support for new chains at a pace of about one per month throughout 2021.
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