Alchemy Insights, Inc. is the latest crypto startup to becune a deca unicorn after a $200 million equity investment valued the infrastructure company at $10.2 billion.
The swelling valuation – Alchemy weighed in at $3.5 billion in last October’s Series C – came amid a surge of new business for the behind-the-scenes California crypto company, which builds web 3 developer tools.
“We’ve seen our user base grow 300%,” CEO Nikil Viswanathan said in an interview. He said Alchemy’s near 50-person team is now expanding globally.
Alchemy’s B2B developer products help prop up NFT trading venues such as OpenSea.
Lightspeed Ventures and Silver Lake led the new funding, according to a press release.
It follows a $207 million raise from infrastructure firm Blockdaemon last month. That firm was valued at only $3.25 billion, however.