QuickNode raises $60M at $800M valuation to change into the ‘AWS or Azure of blockchain’ • TechCrunch

QuickNode, a blockchain deployment platform, has raised $60 million in a Sequence B spherical for an $800 million valuation, the corporate’s CEO and co-founder, Alex Nabutovsky, informed TechCrunch.

The spherical was led by 10T Holdings, with participation from Tiger World, Seven Seven Six Ventures and QED Buyers, amongst others. This fundraise comes about 15 months after the corporate’s $35 million Sequence A spherical. In whole, the agency has raised greater than $105 million, Nabutovsky mentioned.

“Once we raised a $35 million spherical, we had been 20 folks. Now we’re over 120 folks,” Nabutovsky mentioned. “We’re going to proceed increasing the staff. The quantity of enterprise coming in is unimaginable, so we need to proceed constructing these abstraction layers, develop our expertise and increase to new areas.”

Whereas the capital will deal with growth, the corporate additionally needs to make use of the funding for rising blockchain adoption, Nabutovsky mentioned. “If we’re going to have mass blockchain adoption like we noticed prior to now 12 months, you want to present enterprise-grade infrastructure” he mentioned.

QuickNode was based in 2017 and aimed to deliver Internet 2.0 infrastructure to web3, however snowballed over time, Nabutovsky mentioned. The third and fourth quarters of 2022 had been “file quarters for income,” because it rose by over 300% because of Internet 2.0 giants and web3-native corporations piling into the area, he added.

Its buyer base contains main Web2.0 corporations like Twitter and Adobe in addition to web3 platforms like Coinbase, OpenSea, Chainlink, 1inch Community, Dune Analytics and Phantom.

The platform handles over 200 billion API requests month-to-month, and is “at all times accessible” with 99.99% uptime, which implies there’s solely 4 days of downtime per 12 months, in response to Nabutovsky. “Quite a lot of our prospects got here right here as a result of we’re capable of assure 99.99% reliability, latency and pace,” he mentioned.

It additionally works with 16 blockchains, together with Bitcoin, Ethereum, Solana, Polygon, Binance Sensible Chain, Avalanche and Abritrum, in response to its website. “We plan so as to add one other 4 to 5 chains at minimal by the tip of this 12 months,” Nabutovsky mentioned.

“We now have over 50,000 builders on the platform continuously requesting new issues. However for us, the roadmap is at all times the addition of protocols and dealing with these foundations. It’s not simply having a protocol, however a relationship to construct with the foundations to be an extension of their ecosystems so that they and their builders can have a greater expertise,” he mentioned.

The long-term purpose for QuickNode is “easy,” Nabutovsky mentioned.

“We need to get to the purpose the place any firm that wishes to construct or work together with blockchain [technology] will use us,” Nabutovsky added. “We wish to be the AWS or Azure of blockchain. The trade could be very ripe for that and the manufacturing taking place is staggering.”

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