Alchemy is a blockchain and Web3 development SaaS start-up. It powers almost each blockchain transaction across blockchain vertical with financial institutions, exchanges, decentralized finance projects. Moreover, it is the technology behind NFT platforms such as MakersPlace, OpenSea, etc.
The funding round was led by Lightspeed and Silver Lake. Along with them, Andreessen Horowitz, Coatue, DFJ, Pantera, and Lee Fixel’s Addition took part in the round. Alchemy’s valuation increased 3 times after the previous round 4 months ago. “Everyone’s looking for a way to get involved in the space, and what they realized was Alchemy is the backbone for all of these things. We still think this is the first inning of Web 3,” Joe Lau, CTO and co-founder.
Alchemy, headquartered in San Francisco, was founded by Joseph Lau, Nikil Viswanathan in 2017. The main start-up goal is to eliminate difficulties related to infrastructure building and allow its clients to improve their applications with the help of necessary tools. Among Alchemy’s clients are OpenSea, Dapper Labs, and Axie Infinity – crypto-native companies. In the future, the company plans to rely on newcomers to the crypto space. Alchemy $90 billion transaction volume more than doubled since October. Its team has 50 employees. The company is going to use the money raised to attract new clients and develop initiatives.