Alchemy raises $80M at a $505M valuation to be the ‘AWS for blockchain’
Blockchain developer platform Alchemy announced today it has raised $80 million in a Series B round of funding led by Coatue and Addition, Lee Fixel’s new fund. The company previously raised a total of $15.5 million, so the latest financing brings its total raised to $95.5 million since it launched in 2017.
The latest round caught our attention for a few reasons.
First, the company, which describes itself as the backend technology behind the blockchain industry, went from public launch to a $505 million valuation in a matter of just eight months. During that time, Alchemy says it powered more than $30 billion in transactions for tens of millions of users all over the world. Second, the startup says it is also already powering the majority of the NFT industry.