Blockchain Developer QuickNode Raises $60M

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Web3 developer platform <a target="_blank" href="https://www.crunchbase.com/organization/quiknode" rel="noopener">QuickNode</a> introduced on Wednesday it closed $60 million in Sequence B funding. The spherical was led by <a target="_blank" href="https://www.crunchbase.com/organization/10t-holdings" rel="noopener">10T Holdings</a> with participation from Protocol Labs, <a target="_blank" href="https://www.crunchbase.com/organization/tiger-global" rel="noopener">Tiger Global Management</a> and <a target="_blank" href="https://www.crunchbase.com/organization/seven-seven-six" rel="noopener">Seven Seven Six</a>. The corporate is now valued at $800 million. The Miami-based startup’s latest spherical comes on the heels of its $35 million Sequence A elevate in 2021. Within the span of a yr, QuickNode grew its person base 400% and at present supplies infrastructure for 16 blockchains. <div class="wp-block-columns see-plans-cta rounded-2xl py-4 has-background" style="background-color:#cbddff"> <div class="wp-block-column"> <h3 class="mb-2">Search much less. Shut extra.</h3>

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</div> </div> <h2>The tangled internet of Web3</h2> The buzzy world of Web3 has grown since <a target="_blank" href="https://www.crunchbase.com/organization/ethereum-0ded" rel="noopener">Ethereum</a> co-founder <a target="_blank" href="https://www.crunchbase.com/person/gavin-wood-2" rel="noopener">Gavid Wood</a> uttered the phrase in 2014 to explain a way forward for the web that will solely exist on the blockchain. In 2022, U.S.-based startups within the Web3 house raised round $2.3 billion, the sector’s greatest yr ever and greater than double what it raised in 2021, regardless of each different business going through a pointy funding pullback. Web3 has led to the rise of firms like <a target="_blank" href="https://www.crunchbase.com/organization/block-one" rel="noopener">Block.one</a>, a blockchain expertise developer that raised $4.1 billion because it began in 2016. However the business is going through a much more hostile actuality in the present day. Funding for Web3 startups <a target="_blank" href="https://news.crunchbase.com/web3/startup-funding-q4-drop/" rel="noopener">nosedived by 74%</a> in fourth-quarter 2022. <a target="_blank" href="https://www.crunchbase.com/organization/ftx-exchange" rel="noopener">FTX</a>, the crypto buying and selling community that raised billions of {dollars} <a target="_blank" href="https://www.coindesk.com/ftx-news-coverage/" rel="noopener">only to go bankrupt </a>in a public collapse, was one in all a number of blockchain-related firms to battle final yr. Regardless of this, QuickNode stated its income grew 300% within the final yr. And in an announcement, CEO Alex Nabutovsky referred to as the street to Web3 inevitable. “The business is about to enter its subsequent period, and with this elevate, we're making ready for mass adoption of blockchain expertise in 2023 and all through the remainder of the last decade,” Nabutovsky stated. “We're proud to assist our clients scale to their full potential and transfer the business ahead.” Illustration: <a target="_blank" href="https://www.domguzman.com/" rel="noopener">Dom Guzman</a>

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