QuickNode raises $60M series B round for Web3 adoption

• QuickNode is a Web3 platform developing tools and software solutions designed to accelerate blockchain adoption.
• The company raised its $60 million series B in a round led by 10T Holdings.
• QuickNode plans to use the funds to grow its team and scale its activities and tools.

QuickNode, a blockchain infrastructure provider helping to power the Web3 ecosystem, has raised $60 million in a Series B round.

10T Holdings, a digital assets-focused mid to late-stage equity fund, led the round, according to details in a blog post published on Tuesday. 

The funding round also attracted participated from Seven Seven Six, a venture capital fund co-founded in 2020 by Alex Ohanian. Other investors who have backed QuickNode’s latest round include Tiger Global and QED Investors.

gm!

We’re beyond excited to announce that we have raised a $60 million Series B funding round led by @10TFund — with participation from Tiger Global, @sevensevensix, and @QEDInvestors, among others — to fuel our next phase of growth and development! pic.twitter.com/aWAu4P3WhX

— QuickNode (@QuickNode) January 24, 2023

The mission is to power Web3 growth

Per QuickNode, the funding will help spearhead further adoption of the blockchain technology across the Web3 industry.

“With this funding, we will further solidify ourselves as the most performant blockchain development platform and accelerate our mission to support Web3 developers in building the foundation for a decentralized, globally connected future,” the QuickNode team noted.

QuickNode, founded in 2017, continued to see growth in 2022 despite the broader crypto market downturn that resulted in the collapse of some leading crypto-focused companies.

After raising $35 million in its series A round in October 2021, the blockchain platform grew its team by 300% while the user base expanded 400% in 2022. The company plans to use the capital injection to grow its team further and make inroads across new markets around the world.

“The Series B round, led by 10T, provides our tree with sufficient nutrients, allowing us the ideal opportunity to continue building and shipping useful, meaningful & innovative products which will power the Internet for decades to come,” Dmitry Shklovsky, co-founder of QuickNode said in a statement.