Alchemy raises $250M in Series C funding round

Brings the company's valuation to $3.5B.

San Francisco-based blockchain web services company Alchemy has announced a $250 million Series C fundraising round that brings the company’s current valuation to $3.5 billion.

It comes only a few months after its $80 million Series B in April, which valued the startup at $505 million. Andreessen Horowitz led the round, along with Pantera Capital, Redpoint, Lightspeed Venture Partners, Coatue, DFJ, and Lee Fixel’s Addition.

Alchemy was founded back in 2017 but didn’t launch until August of last year. The company describes itself as a platform for developers who are looking to build reliable decentralized applications based on blockchains such as Ethereum using “Web 3” technology.

In its blog post announcement, Alchemy wrote, “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.”

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