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Will QuickNode Become The Azure of Blockchain With its Raise of $60M Investment?

Alex Nabutovsky, CEO and co-founder of QuickNode, told TechCrunch that the business had secured $60 million in a Series B investment, valuing it at $800 million. QuickNode is a blockchain deployment platform.

Ten Holdings led the round, and Tiger Global, Seven Six Ventures, and QED Investors participated. It has been around 15 months since the company’s Series A round of funding brought in $35 million. Nabutovsky stated that the company had received about $105 million in funding.

The Company’s Plans for Expansion:

According to Nabutovsky, while the funds will primarily be used for expansion, the company also plans to use the funding to increase the adoption of blockchain technology. He mentioned that they need to deliver enterprise-grade infrastructure if they’re going to have mass blockchain adoption as they visioned in the last year. 

According to Nabutovsky, QuickNode was established in 2017 to bring Web 2.0 infrastructure to web3, but its scope has since snowballed. According to him, the third and fourth quarters of 2022 were “historic quarters for revenue” because it increased by over 300% thanks to Web 2.0 titans and web3-native startups flocking into the area.

Moreover, major Web 2.0 firms such as Twitter and Adobe are among its clientele, as are web 3 platforms such as Coinbase, OpenSea, Chainlink, 1inch Network, Dune Analytics, and Phantom.

So, according to Nabutovsky, the platform is always accessible and has an uptime of 99.99%, and it processes over 200 billion API queries monthly. In his announcement, he also mentioned that many of their customers came to the platform because they can guarantee a 99.99% uptime, latency, and speed,” which is why they chose to do business with QuickNode.

According to the website, it is also compatible with 16 different blockchains. These blockchains are Bitcoin, Ethereum, Solana, Polygon, Binance Smart Chain, Avalanche, and Abritrum. Nabutovsky aims to build another four to five chains at the very least by the end of this year. The goal for the company is quite simple: Nabutovsky wants to make the company the blockchain equivalent of Amazon Web Services or Microsoft Azure. The market is primed and ready for something like that, and the output that is taking place is staggering.

Are you excited to witness this? 

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