Thursday, June 20, 2024

QuickNode Closes $60 Million Funding Round

A fundraising round with a total value of sixty million dollars has been successfully completed by the distributed ledger technology (Blockchain) development platform QuickNode. This achievement is a component of a worldwide expansion that is being undertaken with the goal of luring a greater number of users and developers onto the Web3 platform. This accomplishment was made feasible as a direct consequence of the efforts that QuickNode put out in order to entice a higher number of users and developers to participate in the Web3 platform. On the 24th of January, the company made the news that the venture capital firm 10T Fund will be leading the Series B fund raising effort, with participation from Tiger Global, Seven Seven Six, and QED. That fact is common knowledge at this point. As a direct result of the fact that the investment was successfully completed, the value of QuickNode has been increased to an estimated $800 million.

QuickNode’s management has said that the cash will be used to accelerate the company’s expansion into new markets across the globe and will make the transition to Web3 more straightforward “at scale.

” If this is to be achieved, it is vital to provide developers with the deployability that is required in order to sign up more blockchain clients.

The Series B funding round has been the most crucial financing round for the business since October 2021, when the firm was only seven months old and received $35 million in its first investment round. Since that time, the company has been in operation.

QuickNode asserts that the size of its existing user base has more than doubled in size throughout the period of time that has passed between the company’s two previous rounds of venture investment.

At the present, the company provides its infrastructure services to over 16 distinct blockchains, some of which are Ethereum, Matic, Optimism, Arbitrum, and Solana. Other blockchains that currently make use of the company’s offerings include Solana is one of the blockchains that is featured among the others. There are a number of other blockchains in addition to these that utilise a selection of these services in their operations.

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