Leading Blockchain Infra Provider, Quicknode Raises $35Million Series A Led By Tiger Global
Investment will enable QuickNode to meet surging demand of companies building blockchain enabled products.
QuickNode, the blockchain infrastructure platform for companies, announced $35M in Series A funding led by Tiger Global with participation from Alexis Ohanian’s Seven Seven Six, Soma Capital, Arrington XRP Capital, Crossbeam and Anthony Pompliano. This news follows the company’s Seed Round in March 2021 of $5.3 million, as well as other strategic investments, bringing the total capital raised to just over $45 million. QuickNode makes it easy for companies and software engineers to quickly set up and integrate with blockchain infrastructure, making a time-consuming and expensive endeavor available in just a few minutes.
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New funding will be dedicated to growing the company’s services by allowing them to support new chains and further expanding the product offering, which will continue to provide the tools developers need to grow and scale operations as crypto adoption continues to accelerate. QuickNode has added support for new chains at a break-neck pace of about 1 per month throughout all of 2021.
Demand for QuickNode’s platform as a provider of blockchain infrastructure skyrocketed this year as companies continue to adopt blockchain as part of their product strategy. According to Markets and Markets research, blockchain infrastructure is growing at a compounded annual growth rate of about 67% expected to reach $40 billion by 2025.
Since graduating from Y Combinator in March 2021, QuickNode’s market traction has reached new levels, culminating in a 20x increase in revenue and customers, a 6x increase in team members, and greater than a 10x increase in valuation. The company services more than 2 billion requests per day for a community of nearly 20,000 developers, with a global multi-cloud presence in 15+ regions across 4 continents. Customers using the platform range from developers new to the blockchain ecosystem to crypto-native projects such as NFTs and wallet providers to large institutions managing billions in crypto assets.
“Blockchain and cryptocurrency are eating the world,” said Alex Nabutovsky, Co-founder of QuickNode. “We are seeing businesses from all verticals looking at blockchain enabled software roll out in 2022 and beyond. It’s beautiful to see the foundation of the new internet happening right before our eyes.”
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QuickNode is committed to providing everyone with high-performance, low-latency, globally available blockchain access. Currently supporting ten blockchains including Ethereum, Bitcoin, Solana, xDai, Matic/Polygon, Binance Smart Chain, Terra, Celo, Fantom, and Optimistic Ethereum, QuickNode serves over 70+ billion requests per month.
“QuickNode is at the center of a profound shift in the building blocks that power value transfer on the internet. 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 John Curtius, the Partner leading the deal for Tiger Global. “QuickNode’s leadership in multi-chain support and vision to be the number one provider of blockchain infrastructure will help businesses build on trusted, low-latency, globally available infrastructure to serve billions of people over the next 5-10 years.”
“Web3 is the internet’s new frontier and Seven Seven Six is honored to continue backing QuickNode while the crypto space expands its influence worldwide,” Alexis Ohanian, Founder of Seven Seven Six. “We’re excited to be a firsthand witness to QuickNode’s rapid growth, enabling more individuals and businesses to easily adopt blockchain technology. QuickNode is yet another example of Miami Tech excellence.”
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