Web3 infrastructure firm Quicknode raised $60 million in a Series B funding round, according to an announcement the company made on Tuesday. The capital injection brings the company’s post-valuation to $800 million, and Quicknode says the funds will be used to “further fuel blockchain adoption.”
On Jan. 24, 2023, Quicknode revealed it has raised $60 million in a Series B funding round led by 10T Holdings. Other participating investors in the round included QED, Tiger Global, Alexis Ohanian’s Seven Seven Six, and Protocol Labs. “This latest round will be used to accelerate the company’s global expansion and further empower the builders laying the groundwork for a decentralized, globally-connected future,” Quicknode’s announcement said.
Quicknode also raised $35 million in a Series A in Oct. 2021. That round was led by Tiger Global, and Seven Seven Six, Soma Capital, Arrington XRP Capital, Crossbeam, and Anthony Pompliano also participated. Quicknode claims to handle “billions of blockchain calls daily with 2X faster response time than competitors.”
Quicknode competitors include firms like Kaleido, Alchemy, Blockcypher, Velas, and Infura. The company detailed on Tuesday that the funds will be used to “streamline the Web2 to Web3 movement at scale.” The company also plans to make new hires and develop Web3 offerings for the Quicknode marketplace. Despite the crypto winter, the company added that “QuickNode has seen remarkable growth over the past year with its revenue growing more than 300%.”
“At Quicknode, we firmly believe in Web3 as the future of the Internet,” Alex Nabutovsky, CEO and co-founder of QuickNode said in a statement. “Blockchain adoption and development continue to increase year-over-year, and we expect continued momentum in the space. 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 proud to help our customers scale to their full potential and move the industry forward,” Nabutovsky added.
What do you think about Quicknode’s latest funding round? Share your thoughts in the comments below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Web3 infrastructure firm Quicknode raised $60 million in a Series B funding round, according to an announcement the company made on Tuesday. The capital injection brings the company’s post-valuation to $800 million, and Quicknode says the funds will be used to “further fuel blockchain adoption.”
On Jan. 24, 2023, Quicknode revealed it has raised $60 million in a Series B funding round led by 10T Holdings. Other participating investors in the round included QED, Tiger Global, Alexis Ohanian’s Seven Seven Six, and Protocol Labs. “This latest round will be used to accelerate the company’s global expansion and further empower the builders laying the groundwork for a decentralized, globally-connected future,” Quicknode’s announcement said.
Quicknode also raised $35 million in a Series A in Oct. 2021. That round was led by Tiger Global, and Seven Seven Six, Soma Capital, Arrington XRP Capital, Crossbeam, and Anthony Pompliano also participated. Quicknode claims to handle “billions of blockchain calls daily with 2X faster response time than competitors.”
Quicknode competitors include firms like Kaleido, Alchemy, Blockcypher, Velas, and Infura. The company detailed on Tuesday that the funds will be used to “streamline the Web2 to Web3 movement at scale.” The company also plans to make new hires and develop Web3 offerings for the Quicknode marketplace. Despite the crypto winter, the company added that “QuickNode has seen remarkable growth over the past year with its revenue growing more than 300%.”
“At Quicknode, we firmly believe in Web3 as the future of the Internet,” Alex Nabutovsky, CEO and co-founder of QuickNode said in a statement. “Blockchain adoption and development continue to increase year-over-year, and we expect continued momentum in the space. 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 proud to help our customers scale to their full potential and move the industry forward,” Nabutovsky added.
What do you think about Quicknode’s latest funding round? Share your thoughts in the comments below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
Avalanche moved to a multi-month high on Jan. 24, after reports that the number of bitcoin on its network rose to 5,493. The news saw the token surge by nearly 5% today, rising for a third straight session in the process. Polygon also moved higher on Tuesday, hitting a one-week high.
Avalanche (AVAX) rose to a multi-month high on Tuesday, as prices rallied for a third consecutive session against a backdrop of bullish news.
Following a low of $17.43 to start the week, AVAX/USD moved to an intraday peak of $18.86 earlier today.
As a result of today’s surge in price, AVAX has risen to its strongest point since Nov. 6.
Looking at the chart, the move took place following a breakout of a ceiling at the $18.50 mark.
In addition to this, the 14-day relative strength index (RSI) neared a resistance level of its own at 72.00
At the time of writing, the index is tracking at 71.11, with earlier gains fading, resulting in AVAX currently trading at $18.22.
In addition to AVAX, polygon (MATIC) climbed higher in today’s session, following a collision with a key price floor.
MATIC/USD raced to a peak of $1.04 earlier in the day, less than a day after hitting a low of $0.9849
The move saw polygon reach its highest level since last week Monday, when price was last close to a resistance of $1.05.
However, like on that occasion, prices have since plunged, with momentum not strong enough to force a breakout.
As of writing, MATIC/USD is now trading at $1.00, which is also its long-term support point.
One positive is that the RSI seems to be a fair distance away from its own floor at 61.00, and is currently tracking at 63.27, with a ceiling of 65.00 a possible target.
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Do you expect polygon to move beyond $1.05 this week? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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