Blockchain Developer QuickNode Raises $60M, Doubling Down on Web3

Quick take:

• QuickNode has announced a $60 million funding round.
• The Series B round was led by digital assets investment company 10T holdings.
• QuickNode is a multi-chain blockchain infrastructure platform that offers trustless scalability for dApps.

QuickNode has raised $60 million in a Series B funding round led by 10T Holdings. The blockchain infrastructure platform enables multi-chain deployment of highly scalable developer apps (dApps). 

10T joins a growing list of backers and partners that include the leading NFT marketplace OpenSea, the world’s second-largest crypto exchange platform Coinbase, as well as, crypto analytics and insights platform Chainalysis and Dune Analytics, among others.

QuickNode launched five years ago with the mission of revolutionising the internet. The company’s platform is built on the premise of promoting user ownership, privacy and freedom on the internet. 

The latest fundraising will be used to accelerate the implementation of this mission, advancing the idea of a smarter and more equitable internet in a bid to onboard masses onto web3.

Describing the role blockchain technology plays in the company’s mission, Dmitry Shklovsky,

Co-founder of QuickNode wrote: “We can program trust digitally and secure it using a powerful, decentralized network of computer hardware – in real-time. What required large companies and organizations to furnish & operate can now be done with blockchain protocols, open-source code, and volunteers from around the world.”

The fundraising comes at a time when the crypto industry is experiencing a downturn. However, Dmitry notes that the ability to raise capital in such a challenging market illustrates QuickNode’s resilience and strength. “the ability to weather any storm and continue.”

“Now is the time to double down on the foundations of Web3. We are no less convinced today than in 2017 that blockchain is the underlying technology that will power the future of the internet,” he added.

QuickNode provides a developer toolkit that enables creators and developers to quickly launch highly scalable web3 projects. The company completed seed and Serie A funding rounds in 2021, which it used last year to scale its team by 300% and ramp up the user base by 400%.

QuickNode also beefed up its platform adding support for six more blockchains, acquiring web3 analytics platform Icy.tools, and adding five new products including NFTs & Token API, Quick Alert Webhooks and QuickNode Marketplace, among others.

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