Miami Tech & Startup News

QuickNode raises a $60M Series B, at $800M valuation, on heels of rapid growth

QuickNode raises a $60M Series B, at $800M valuation, on heels of rapid growth

By Nancy Dahlberg

To further fuel blockchain adoption, QuickNode has closed on a $60 million Series B funding round. This leading end-to-end development platform for Web3 builders is also a soonicorn: QuickNode is now valued at $800 million.

This latest round for this Miami-based startup was  led by 10T Holdings with participation from Tiger Global, Seven Seven Six, SoftBank’s SB Opportunity Fund, Protocol Labs and QED, among others. In total, QuickNode has raised $105 million in venture capital.

 “We are thrilled to partner with QuickNode, whose fast and reliable node infrastructure and easy-to-use platform enable developers to build scalable applications that facilitate user interactions with blockchains,” said Dan Tapiero, Managing Partner and CEO of 10T Holdings. He is joining QuickNode’s board.

To create an accessible API platform for businesses to build and scale Web3 apps, Alex Nabutovsky, Dmitry Shklovsky, Auston Bunsen and Manuel Kreutz, all from the Miami area, co-founded QuickNode in 2017  and launched the platform in early 2020. QuickNode is a Y Combinator alum, and in October 2021 the startup raised a $35 million Series A round led by Tiger Global.

“We firmly believe in Web3 as the future of the Internet,” said Nabutovsky, QuickNode’s CEO. “The industry is about to enter its next era, and with this raise, we are preparing for mass adoption of blockchain technology in 2023 and throughout the rest of the decade. We are proud to help our customers scale to their full potential and move the industry forward.”

Since its Series A and despite the fierce crypto winter, QuickNode has seen revenue grow by more than 300% and it has also expanded its user base by over 400%, the company reports.

 “Many of our customers have said it best – ‘In a bear market we build’ – and we’ve been thrilled with the adoption we’re seeing on QuickNode, especially over the last few months,” said Nabutovsky.

The team has to grown from 28 members a year ago to now 116 across eight countries. About 22 of them are in Miami, including the four co-founders, “with many more of us moving there shortly,” said Marketing VP Christopher Wright.

QuickNode is one of the OGs of a growing crypto and blockchain scene in Miami that has been drawing crypto platforms, conferences, funds, finance firms and hundreds of founders, investors and enthusiasts of the tech to the Magic City, welcomed by Miami’s crypto-forward Mayor Francis Suarez. In the second half of 2021, VC funding into Miami’s Web3 sector soared and it remained a top 3 sector in 2022, too, despite the crypto market turmoil.

QuickNode’s new funding will be used to accelerate global expansion while laying the infrastructure for  a decentralized, globally connected future, the company said. The company now handles billions of blockchain calls daily twice as fast as competitors across 16 chains and 33 networks.

“It’s been quite the rocketship working on QuickNode. I’m particularly excited about our recent product launches – QuickAlerts, which is a way to get alerts for any on-chain event, and Marketplace, which is a suite of third party apps that make QuickNode better for our customers,” said Bunsen, QuickNode’s Product Lead.

QuickNode plans to double down on hiring, hosting community-driven events and workshops, and developing more cutting-edge Web3 offerings.

 “The long-term health and success of Web3 are dependent on scalability, accessibility, and interoperability. QuickNode is one of the rare companies that both keeps pace with the velocity of the Web3 space while continuously pushing it forward,” said Alexis Ohanian, founder of Seven Seven Six, who has been an investor since QuickNode’s seed round. “Its foundational technology and platform is building not only to meet the current needs of top Web3-native companies and flagship global brands but also those of the future decentralized web.”

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Follow Nancy Dahlberg on Twitter @ndahlberg and email her at ndahlbergbiz@gmail.com

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