Alchemy (blockchain company)

AlchemyType| Private

|

Industry| Blockchain
Founded| 2017
Founders| Nikil Viswanathan and Joseph Lau
Headquarters|

San Francisco, California

Key people

| Nikil Viswanathan, CEO
Website| www.alchemy.com/

Alchemy is a private company headquartered in San Francisco, California. It provides software development tools and infrastructure services to blockchain companies.[1] Alchemy is used by most non-fungible token services[2] and is the most widely used brand of software development tools for creators of Web3 and blockchain services.[3] The company was founded in 2017. As of February 2022, it has raised $545.5 million in total venture capital investments.[4]

## Contents

* 1 Corporate history
* 2 Software and services
* 3 References
* 4 External links

## Corporate history

Alchemy was founded by Nikil Viswanathan and Joseph Lau in 2017[5] in their apartment.[4] The company was in stealth mode until December 2019,[6] when the software was taken out of beta.[1] It raised $15 million in venture capital funding in December 2019.[6] This was followed by $80 million in April 2021,[4] and $250 million in October 2021.[3] The $250 million investment valued the business at $3.5 billion.[3] In December 2021, Alchemy created a venture capital firm called Alchemy Ventures.[2] Alchemy Ventures finds startups in the blockchain ecosystem the firm believes are promising, then partners with investors for most of the financing.[2]

In February 2022, Alchemy raised another $200 million in venture capital.[4][7] This funding round valued the business at $10.2 billion.[4] Over the time between the Series C and Series C-1 (approximately three months), the number of Alchemy users tripled and Alchemy's services processed $105 billion in blockchain transactions annually, compared to $45 billion in October 2021.[4]

## Software and services

Alchemy develops and markets tools and infrastructure services for blockchain companies.[1] It is an outsourced infrastructure company, similar to Amazon Web Services, but specialized for blockchain services.[2][6] Its business is similar to Microsoft, in that it provides a wide range of IT tools and services.[6] Most of the largest blockchains use Alchemy to operate their blockchain nodes,[2] which are replaced by Alchemy's software.[6] Alchemy has tools and services for analytics, monitoring, logging, APIs, and debugging.[5][6] It also offers a software development platform for blockchain developers.[3]

Alchemy is used by services like Ethereum-based cryptocurrency exchanges,[5] finance websites, or games,[6] and almost all non-fungible token services.[2] It is sold on a freemium business model where base services are free, but premium features are sold based on the amount of computing power used.[3][4]

## References

1. ↑ 1.0 1.1 1.2 More, Saniya (August 11, 2020). "Blockchain development platform Alchemy exits closed beta with official public launch". https://finance.yahoo.com/news/blockchain-development-platform-alchemy-exits-142136549.html.
2. ↑ 2.0 2.1 2.2 2.3 2.4 2.5 Ehrlich, Steven (December 10, 2021). "Why A $3.5 Billion Crypto Firm Is Going To Invest In Its Own Clients". https://www.forbes.com/sites/stevenehrlich/2021/12/10/why-a-35-billion-crypto-firm-is--going-to-invest-in-its-own-clients/.
3. ↑ 3.0 3.1 3.2 3.3 3.4 Sternlicht, Alexandra (October 28, 2021). "Blockchain Developer Alchemy Raises $250 Million Series C At $3.5 Billion Valuation". https://www.forbes.com/sites/alexandrasternlicht/2021/10/28/blockchain-developer-alchemy-raises-250-million-series-c-at-35-billion-valuation/.
4. ↑ 4.0 4.1 4.2 4.3 4.4 4.5 4.6 Azevedo, Mary Ann (February 8, 2022). "Alchemy, which aims to be the ‘de facto platform’ for developers to build on web3, is now valued at $10.2B". https://social.techcrunch.com/2022/02/08/alchemy-which-aims-to-be-the-de-facto-platform-for-developers-to-build-on-web3-raises-another-200m-and-is-now-valued-at-10-2b/.
5. ↑ 5.0 5.1 5.2 Nast, Condé (December 17, 2019). "The Startup That Aims to Decrypt Blockchain for Business". https://www.wired.com/story/startup-aims-decrypt-blockchain-business/.
6. ↑ 6.0 6.1 6.2 6.3 6.4 6.5 6.6 Constine, Josh (December 17, 2019). "Alchemy is secretly fixing blockchain’s node nightmare". https://social.techcrunch.com/2019/12/17/alchemy-blockchain/.
7. ↑ Rooney, Kate (February 8, 2022). "Crypto start-up Alchemy tops $10 billion valuation amid blockchain funding frenzy". https://www.cnbc.com/2022/02/08/crypto-infrastructure-start-up-alchemy-tops-10-billion-valuation.html.

## External links

* Official website

0.00

(0 votes)

|

Retrieved from "https://handwiki.org/wiki/index.php?title=Company:Alchemy_(blockchain_company)&oldid=3904080"