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Web 3 Infrastructure Giant Alchemy Tops $10B Valuation in $200M Funding Round
A key player behind decentralized applications on Ethereum and other chains continues to swell.
Alchemy Insights, Inc. is the latest crypto startup to become a deca unicorn after a $200 million equity investment led by Lightspeed Ventures and Silver Lake valued the infrastructure company at $10.2 billion.
The swelling valuation – Alchemy weighed in at $3.5 billion in last October’s Series C – came amid a surge of new business for the behind-the-scenes San Francisco-based crypto company, which builds Web 3 developer tools used to create decentralized apps (dapps) on Ethereum and other networks.
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“We’ve seen our user base grow 300%,” CEO Nikil Viswanathan said in an interview. He noted Alchemy’s near 50-person team is now expanding globally.
Alchemy’s B2B developer products help prop up non-fungible token (NFT) trading venues such as OpenSea.
Alchemy's latest fundraising follows a $207 million funding round raised by blockchain infrastructure firm Blockdaemon last month. That firm was valued at only $3.25 billion, however.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
