October 28, 2021, SAN FRANCISCO — Alchemy, the world’s leading developer platform for blockchain and Web3, today announced a $250M Series C round of funding, led by Andreessen Horowitz (a16z), valuing the company at $3.5B. Lightspeed and Redpoint are joining a16z as new investors, with additional participation from existing investors Coatue, Addition, DFJ, and Pantera. As the leading platform for blockchain and Web3 developers, Alchemy has accelerated its growth as the industry has expanded, with revenues growing 15X in the last six months.
Alchemy is doing for blockchain and Web3 what AWS did for the internet. It provides developers with the tools they need to easily and efficiently create mainstream blockchain applications, helping them turn their ideas into wildly successful businesses. As ecosystem growth accelerates, the industry’s leading companies are building their success on Alchemy’s reliability and scalability. This latest round of funding will help Alchemy continue its focus on building a platform that brings the benefits of blockchain, decentralization, and Web3 to developers globally.
“Alchemy is growing at a staggering pace because it offers developers a platform for building web3 applications that is reliable, scalable, and easy to use,” said Ali Yahya, General Partner at Andreessen Horowitz. “Under Nikil and Joe’s leadership, Alchemy has stayed ahead of the curve and is doing as much as any company to drive mainstream adoption of web3.”
Publicly launched a little more than a year ago, Alchemy’s growth has been the result of answering a core need in the blockchain space — an easy-to-use, powerful platform for building blockchain applications for mainstream use. Alchemy serves developers across every vertical, including financial institutions, exchanges, gaming, NFT platforms, decentralized applications and protocols, and multinational organizations such as Adobe. Alchemy’s reliability and scalability make it the solution of choice for companies leading the Web3 revolution, including Dapper Labs, OpenSea, CryptoPunks, and Axie Infinity.
“Blockchain is still at the very beginning, and we’re thrilled to have partners like a16z who share our commitment to unlocking the potential of blockchain for developers and users everywhere,” said Joe Lau, co-founder and CTO of Alchemy.
Alchemy will primarily use this funding to reinvest in growth of the ecosystem to further the mission of making blockchain development accessible globally. This includes expanding access to its tools for all developers, especially those just starting out, building out its educational resources to help onboard new developers to Web3, and continued strengthening of its infrastructure to support the industry’s rapid growth. It will also continue its global expansion, including the opening of new offices in and outside of the US, and support for developers across new, emerging chains.
“We’re excited to continue investing in making blockchain accessible to developers globally,” said Nikil Viswanathan, co-founder and CEO of Alchemy. “Empowering developers is the key to bringing the magic of blockchain to the world.”
Alchemy is the world’s leading blockchain developer platform powering more than $45B in transactions for tens of millions of users globally. The company is backed by a16z, Coatue, Addition, DFJ Growth, Stanford University, Coinbase, Pantera Capital, the Google Chairman, Charles Schwab, and founders and execs from Linkedin, Citi, Yahoo, NYSE, and many more.