CompanyQuicknodeinfrastructural developmentWeb3, raised $60 million in Series Bfinancing, according to an announcement made by the company on Tuesday. The capital injection brought the company's value after valuation to $800 million, the funds will be used for“further development of blockchain”. Quicknode aims to streamline the move from Web2 to Web3 with $60 million in Series B funding led by 10T Holdings.
Other investors participating in the round included QED, Tiger Global, Alexis Ohanian's Seven Seven Six, and Protocol Labs.
Quicknode also raised $35 million inseries A in October 2021. The round was led by Tiger Global and also included participation from Seven Seven Six, Soma Capital, Arrington XRP Capital, Crossbeam and Anthony Pompliano. Quicknode claims to process “billions of blockchain hits daily with response times 2x faster than competitors”.
The company also plans to hire new employeesand develop Web3 offerings for the Quicknode marketplace. Despite the cryptocurrency winter, the company added that “QuickNode has experienced significant growth over the past year, with its revenue increasing by more than 300%”. “At Quicknode, we strongly believe in Web3 as the future of the Internet”, – said Alex Nabutovsky, CEO and co-founder of QuickNode, in a statement.
“Blockchain adoption and development continuesto grow from year to year, and we expect further development in this area. The industry is about to enter its next era, and with this boost, we are preparing for mass adoption of blockchain technology in 2023 and throughout the rest of the decade.