Alchemy Raises $80 Million Series B Funding at ½ Billion Dollar Valuation to Power the Blockchain Industry

By AIT News Desk On Apr 29, 2021

Coatue and Addition Back Leading Blockchain Developer Platform

Alchemy, the leading blockchain developer platform powering over $30 billion in transactions for tens of millions of users in 99% of countries worldwide, announced an $80 million Series B round of funding led by Coatue and Addition, valuing the company at ½ billion dollars. Other funds and high-profile business, technology, media, and entertainment investors such as DFJ Growth, the Glazer family, K5 Global, Genies, the Chainsmokers, and many others are also participating in the round, and joining existing Alchemy investors including Stanford University, Coinbase, Pantera Capital, SignalFire, Communitas Capital, John Hennessy, Charles Schwab, Reid Hoffman, Jerry Yang, and other industry leaders.

Alchemy’s developer platform powers the blockchain industry by providing developers with the tools they need to create mainstream blockchain applications. The largest companies in the space depend on Alchemy’s industry-leading infrastructure and powerful suite of developer tools for smooth user experiences, reliability, scalability, and to accelerate their pace of development. Just as AWS provides the platform that powers Uber, Netflix and much of the technology industry, Alchemy powers infrastructure for many large players in the blockchain industry.

“Alchemy powers many of the most exciting companies in the blockchain space,” said Kris Fredrickson, Managing Partner at Coatue. “We believe it has the potential to be transformative in accelerating the pace of innovation in the industry.”

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The company grew quickly from public launch to a ½ billion dollar valuation in just eight months. Today, Alchemy is responsible for over $30 billion in transactions across every blockchain vertical, including financial institutions, exchanges, custodians, decentralized finance companies, and multinational organizations such as UNICEF. Alchemy has also quickly become the technology behind every major NFT platform, including Makersplace, Nifty Gateway, OpenSea, SuperRare and CryptoPunks.

“We’re thrilled to partner with leading growth investors and are excited to use this additional funding to continue empowering companies and developers globally,” said Joe Lau, co-founder and CTO.

Alchemy will use the new funding to expand its developer platform to support new blockchains, fuel global expansion, and to open new offices in the US and internationally.

“Blockchain will be as transformational as the internet,” said Nikil Viswanathan, co-founder and CEO. “We’ve seen tremendous growth over the past year and it’s incredibly exciting to help bring blockchain to the world.”