Startups in the Web3, NFT and Metaverse space continue to attract big money. The latest is Alchemy, a company that intends to be the Amazon Web Service (AWS) for Web3.
The Silicon Valley based company announced today that it had closed a $200 million Series C1 equity round that values it at $10.2 billion.
That’s a huge leap from its $3.5 billion valuation 4 months ago, following a $250 million Series C round in October. Just a few months before that, in April 2021, the startup was valued at $505 million after an $80 million round of funding.
That means the company’s value has surged close to 20x in under a year, which can only happen in the tech space. Also, nicely done for a co-founder who just a few years ago was fighting cease orders from Southwest Airlines for offering automatic check-in services.
Alchemy provides the underlying infrastructure that powers most of Web3, and according to them, they have powered $105 billion worth of annualized on-chain transactions
While most people may not be familiar with what the company does, they may be more familiar with some of the platforms it powers, among them OpenSea, Dapper Labs, Crypto Punks, SuperRare, Axie Infinity and many more.
Leading this round of investment were existing backer Lightspeed Venture Partners and new investor private equity firm Silver Lake. All existing, namely: Andreessen Horowitz (a16z), Coatue Management, DFJ, Pantera and Lee Fixel’s Addition also put in more money.