QuickNode Raises $60 Million for Series B Round of Web3 Adoption

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  • QuickNode is a Web3 platform that develops tools and software solutions designed to accelerate blockchain adoption.
  • The company raised its $60 million Series B in a round led by 10T Holdings.
  • QuickNode plans to use the money to grow its team and scale its operations and tools.

QuickNode, a blockchain infrastructure provider powering the Web3 ecosystem, has raised $60 million in a Series B round.

10T Holdings, a digital asset-focused mid- to late-stage equity fund, led the round, according to details in a blog post published Tuesday.

The funding round also attracted participants from Seven Seven Six, a venture capital fund co-founded in 2020 by Alex Ohanian. Other investors who have backed QuickNode’s latest round include Tiger Global and QED Investors.

The mission is to drive the growth of Web3

According to QuickNode, the funding will help further adoption of the blockchain technology in the Web3 industry.

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With this funding, we will further strengthen ourselves as the highest performing blockchain development platform and accelerate our mission to support Web3 developers as they lay the foundations for a decentralized, globally connected futurethe QuickNode team noted.

Founded in 2017, QuickNode continued to grow in 2022 despite the broader crypto market downturn that resulted in the collapse of some leading crypto-focused companies.

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After raising $35 million in the Series A round in October 2021, the blockchain platform has expanded its team by 300% while expanding its user base by 400% by 2022. The company plans to use the capital injection to further grow its team and break new ground in markets around the world.

“TThe Series B round, led by 10T, provides our tree with ample nutrients, giving us the ideal opportunity to continue building and shipping useful, meaningful and innovative products that will fuel the internet for decades to comeDmitry Shklovsky, co-founder of QuickNode, said in a statement.

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