Alchemy, the infrastructure blockchain platform, raised $250 million at a $3.5 billion valuation

Positioning itself as the Amazon Web Services of the crypto world, the blockchain-development platform Alchemy raised $250 million following a Series C funding round. The startup was valued at $3.5 billion.

1) 🎉We’re incredibly excited to announce our $250M Series C, led by @a16z, valuing us at $3.5B! 🎉

A 🧵 on where we’ve come from and where we’re going👇https://t.co/XmNfirUw4B

— Alchemy | We’re Hiring! (@AlchemyPlatform) October 28, 2021

The fundraising round was led by a16z. Also participating were Lightspeed, Redpoint, Coatue, Addition, DFJ and Pantera Capital.

The funds will be used to broaden access to its tools for developers, create educational resources, and strengthen the infrastructure. The company plans to open new offices in the United States and elsewhere and to increase the number of supported blockchains.

Alchemy focuses on Ethereum work, including layer-2 solutions, and Flow. According to Bloomberg, NFT-marketplaces OpenSea, Dapper Labs, SuperRare and Zora are built on the platform.

Founded in 2017, the company offers a broad range of tools for building decentralized exchanges and NFT platforms: from node management to application monitoring. Alchemy’s services are used by multinational companies such as Adobe and PwC.

According to the company, its revenues over the past six months have grown fifteenfold. Through decentralized applications built using its tools, transactions totaling more than $45 billion have been processed.

In April, Alchemy closed a Series B round worth $80 million at a $505 million valuation.

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