- Quick Node announces that the company has raised $60 Million
- The funding round was led by 10T Holdings to further fuel blockchain adaptation.
QuickNode announced yesterday that it had completed a $60 million Series B funding round to accelerate blockchain adoption. QuickNode, the leading end-to-end development platform for Web3 builders, is now valued at $800 million.
10T Holdings led the latest round for this Miami-based startup, including the participation of Seven Seven Six, Tiger Global, Protocol Labs, SoftBank, and QED. QuickNode has raised a total of $105 million in venture capital.
Dan Tapiero, Managing Partner and CEO of 10T Holding, also joining the QuickNode board of directors, said, “We are thrilled to collaborate with QuickNode, whose fast and reliable node infrastructure and easy-to-use platform allow developers to build scalable applications that accelerate users interactions with blockchain.”
Quick Node Intends to Advance Global Expansion and Improve Web2 to Web3 Transition with the Series B Funding
According to the company, the new funding will be used to advance global expansion while establishing a framework for a decentralized, globally connected future. The company now handles twice as many daily blockchains call as competitors across 16 chains and 33 networks.
QuickNode also intends to increase hiring, host community-driven events and workshops, and create cutting-edge Web3 offerings.
“The long-term health and success of Web3 are dependent on scalability, accessibility, and interoperability. “QuickNode is one of the few companies that keep up with the velocity of the Web3 space while also pushing it forward,” said Alexis Ohanian, founder of Seven Seven Six and an investor in QuickNode since its seed round. “Its foundational technology and platform are being built not only to meet the current needs of leading Web3-native companies and global brands but also to meet the needs of the future decentralized web.”
About the Company
QuickNode was founded in 2017 by Alex Nabutovsky, Dmitry Shklovsky, Auston Bunsen, and Manuel Kreutz, all from the Miami area, to create an accessible API platform for businesses to build and scale Web3 apps. QuickNode is a Y Combinator alum, and the startup raised a $35 million Series A round led by Tiger Global in October 2021.
“We firmly believe in Web3 as the Internet’s future,” said Nabutovsky, CEO of QuickNode. “The industry is about to enter its next era, and with this raise, we are preparing for mass adoption of blockchain technology in 2023 and throughout the rest of the decade. We are honored to assist our customers in reaching their full potential and moving the industry forward.”
QuickNode’s revenue has increased by more than 300% since its Series A, despite the harsh crypto winter, and its user base has increased by more than 400%, according to the company.
“Many of our customers have said it best we build in the bear market,’ and we’ve been thrilled with the adoption we’ve seen on QuickNode, particularly in the last few months,” Nabutovsky said.
The team has grown from 28 members a year ago to 116 members spread across eight countries. About 22 of them, including the four co-founders, are in Miami, “with many more of us moving there shortly,” according to Marketing VP Christopher Wright.
“Working on QuickNode has been quite the rocketship. “I’m especially excited about our recent product launches – QuickAlerts, a way to get alerts for any on-chain event, and Marketplace, a suite of third-party apps that make QuickNode better for our customers,” said Bunsen, QuickNode’s Product Lead.
Conclusion
QuickNode is one of the pioneers of Miami’s growing crypto and blockchain scene, which has drawn crypto platforms, conferences, funds, finance firms, and hundreds of tech founders, investors, and enthusiasts to the Magic City. The company has also been welcomed by Miami’s crypto-forward, Mayor Francis Suarez. Despite the crypto market turmoil, VC funding into Miami’s Web3 sector increased dramatically in the second half of 2021 and remained a top three sector in 2022.
