As part of its expansion plans, QuickNode, a blockchain infrastructure platform for businesses, has announced the addition of $35 million funds in Series A funding. This recent funding comes months after their platform raised $5.3 million in a seed round in March this year.
The latest funding was headed by Tiger Global, with participation from Alexis Ohanian’s Seven Seven Six, Soma Capital, Arrington XRP Capital, Crossbeam, and Anthony Pompliano.
QuickNode has been actively developing its platform and has carried out a series of strategic investments and partnerships within the past months, bringing the total cash raised to just over $45 million.
Being one of the leading platforms in blockchain, QuickNode provided companies and businesses alongside software engineers to swiftly set up and integrate with blockchain infrastructure, ensuring that expensive and time-consuming tasks are accomplished in the shortest time possible.
Plans for the New Fund
The recent cash injection will be directed at increasing the company’s services and expanding its product offerings. The funds will allow QuickNode to support new chains as it continues to prioritize providing developers with the tools they need to build and scale their businesses as crypto use grows. Throughout 2021, QuickNode has introduced support for new chains at a breakneck speed of around one per month.
QuickNode is Expanding
As organizations continue to implement blockchain as part of their product strategy, demand for QuickNode’s platform as a provider of blockchain infrastructure has soared this year. Blockchain infrastructure is predicted to increase at a compound annual growth rate of roughly 67 per cent to $40 billion by 2025, and this would mean more businesses and popularity for QuickNode.
QuickNode’s market traction has skyrocketed since graduating from Y Combinator in March 2021. It has witnessed a 20x rise in revenue and customers, alongside a 6x increase in team members and more than a 10x increase in valuation.
Currently, QuickNode has a global multi-cloud presence in 15+ regions spanning four continents and reportedly supports and serves over 2 billion requests every day for a community of approximately 20,000 developers.
QuickNode has a mixed client base. Customers span from crypto newcomers to crypto-native enterprises like NFTs and wallet providers, as well as huge institutions handling billions of dollars in crypto assets.
QuickNode provides over 70 billion requests per month across ten blockchains, including Ethereum, Bitcoin, Solana, xDai, Matic/Polygon, Binance Smart Chain, Terra, Celo, Fantom, and Optimistic Ethereum.
QuickNode is at the Center of the Crypto Revolution
Commenting on the platform’s growth, Alex Nabutovsky, Co-founder of QuickNode, said, “Blockchain and cryptocurrency are eating the world. We are seeing businesses from all verticals looking at blockchain-enabled software roll out in 2022 and beyond. It’s beautiful to see the foundation of the new internet happening right before our eyes.”
According to John Curtius, Tiger Global’s partner who led the deal with Quicknode, the platform is at the centre of the ongoing crypto revolution. Curtius said, “QuickNode is at the centre of a profound shift in the building blocks that power value transfer on the internet. We know that blockchains are experiencing a Cambrian explosion, but most of today’s tooling and infrastructure doesn’t meet the rapidly accelerating demand led by the enterprises enabling blockchain experiences for their customers.”
Users who want to learn more about QuickNode can visit https://www.quicknode.com. or check their social media sites.