Quicknode Raises $60 Million in Series B Round to Fuel Blockchain Adoption

• Quicknode has raised $60 million in a Series B funding round led by 10T Holdings.
• The funds will be used to „further fuel blockchain adoption“ and „streamline the Web2 to Web3 movement at scale.“
• Quicknode has seen remarkable growth over the past year with its revenue growing more than 300%.

Quicknode, a web3 infrastructure firm, recently announced the successful completion of its Series B funding round, raising $60 million. This brings the company’s post-valuation to $800 million, and the capital injection will be used to further fuel blockchain adoption and expand globally. The round was led by 10T Holdings and other participating investors included QED, Tiger Global, Alexis Ohanian’s Seven Seven Six, and Protocol Labs.

Quicknode claims to handle „billions of blockchain calls daily with 2X faster response time than competitors.“ This is an impressive feat, especially considering the crypto winter that the industry has been experiencing. The company detailed that the funds will be used to „streamline the Web2 to Web3 movement at scale.“ This will be achieved by making new hires, developing Web3 offerings for the Quicknode marketplace, and expanding globally.

The company also revealed that it has seen remarkable growth over the past year with its revenue growing more than 300%. This is despite the market conditions and is a testament to the effectiveness of the firm’s offerings. Quicknode’s CEO and co-founder, Alex Nabutovs, said “At Quicknode, we firmly believe in Web3 as the future of the Internet. With this latest round, we are even better equipped to help developers, enterprises, and projects build and deploy their applications faster, better, and cheaper.”

This news is a positive sign for the blockchain industry, as it shows that investors are still positive about the space and are willing to commit to it. With Quicknode raising this amount of funds, it is likely that the firm will be able to further bridge the gap between web2 and web3, which will be a major step in furthering blockchain adoption.