WEB Raises $80 Million in Series B Funding to Expand Decentralized Application Platform
Investment Led by Coatue and Addition
San Francisco, California - [Date]
WEB Alchemy, a developer platform for building decentralized applications, has closed an $80 million Series B funding round led by Coatue and Addition. This investment will support WEB's mission to provide companies with the tools and resources they need to succeed in the rapidly growing Web3 ecosystem.
WEB Alchemy's platform simplifies the development process for decentralized applications, making it easier for businesses to tap into the potential of blockchain technology. The company offers a suite of tools and services that help teams build, deploy, and manage their applications with confidence. These tools include a low-code/no-code development environment, a powerful API, and a comprehensive suite of analytics and monitoring tools.
"We are excited to partner with Coatue and Addition to fuel our mission of making decentralized applications accessible to everyone," said Nikil Viswanathan, CEO and Co-Founder of WEB Alchemy. "This investment will allow us to continue developing our platform and expanding our team to meet the growing demand for Web3 solutions."
WEB Alchemy's platform is used by a wide range of companies, from startups to Fortune 500 enterprises. The company's clients include leading brands such as Nike, Coca-Cola, and Disney.
"We believe that WEB Alchemy is the leading provider of developer tools for the Web3 ecosystem," said Michael Gilroy, Partner at Coatue. "The company's platform is essential for developers looking to build and deploy decentralized applications quickly and efficiently. We are excited to support WEB Alchemy's growth and help them to continue to innovate in this rapidly growing market."
About WEB Alchemy
WEB Alchemy is a developer platform that helps companies to build, deploy, and manage decentralized applications. The company's platform provides a low-code/no-code development environment, a powerful API, and a comprehensive suite of analytics and monitoring tools. WEB Alchemy's clients include leading brands such as Nike, Coca-Cola, and Disney.
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