Alchemy provides a developer platform that removes the complexity and costs of building blockchain and web3 applications, charging customers for compute units based on usage. The company says it has powered $105 billion of annualized on-chain transactions and has seen dramatic platform growth. Alchemy launched its offering in August 2020 and positions itself as the de facto platform for developers and mainstream blockchain applications. It is profitable but declines to disclose hard revenue figures; the team reports over 3x growth in the number of teams building since its October raise and nearly 50% user‑base growth since the latest round. Alchemy has expanded its ecosystem activities by launching Web3 University and creating Alchemy Ventures, which has allocated $10 million to invest in nascent web3 businesses. The company plans to use new capital to hire aggressively and expects headcount to reach about 200 by year‑end. Alchemy offers a developer platform intended to simplify building on blockchains, positioning itself as the "AWS for blockchain" and launching its product in August 2020. The platform powers transactions across financial institutions, exchanges, major DeFi projects and NFT marketplaces such as OpenSea, MakersPlace, Nifty Gateway, SuperRare and CryptoPunks, and counts customers including Dapper Labs, Axie Infinity, Adobe, PwC and UNICEF. Alchemy now handles over $45 billion in transaction volume (up from $30 billion in April) and has expanded support beyond Ethereum to Polygon, Arbitrum, Optimism and Flow. The company reports it is "very profitable" and that revenue grew 15x since its last raise in April; it also still holds the $80 million it raised in its Series B. Alchemy remains a lean team of 27 employees, based in San Francisco with an office in New York and remote staff globally. The company plans to use the new capital primarily to invest in building a community around blockchain and to continue improving tooling for developers. Alchemy builds a SaaS developer platform that removes the complexity and costs of blockchain infrastructure for developers. The platform powers transactions across nearly every blockchain vertical and is the underlying technology for most major NFT platforms, including OpenSea, Nifty Gateway, SuperRare and CryptoPunks. The company says it has powered more than $30 billion in transactions for tens of millions of users and reported revenue growth of 600% in 2020. Alchemy launched in 2017 and has kept a relatively small team (growing recently from 14 to 22 employees) while planning to 5x headcount this year. It plans to use new capital to support additional blockchains, fuel global expansion, and open new offices, including a planned New York office. Alchemy and its backers position the company as the “AWS for blockchain,” aiming to be the primary developer platform for mainstream blockchain adoption. Alchemy replaces the nodes businesses use to read and write blockchains with a faster, more scalable decentralized architecture and bundles developer tools such as analytics, monitoring, alerting, logging and debugging. The two-year-old startup already powers infrastructure for hundreds of businesses, serving over one million customers in 200 countries per week, with clients including Augur, 0x, CryptoKitties, Kyber and the Opera browser. The company charges for tools and service packages that the founders say start in the tens of thousands of dollars and reports meaningful revenue from those sales. Alchemy says its platform resolves reliability issues, speeds applications (customers reported multi‑fold improvements) and returns engineering time to product development. The founders emphasize close customer support and rapid iteration—founders remain directly accessible to customers and the team has just hired its first salesperson to pursue larger corporate deals. Alchemy has turned away acquisition interest and is focused on building more tools to accelerate blockchain developer adoption and to win a breakout mainstream use case.

Total raised

$545M

Funding rounds

4

Latest round

Series C

Latest activity

Feb 2022