Alchemy launches infrastructure platform to bring blockchain mainstream

The Blockchain Infrastructure Platform Secures $15 Million in Funding from Leading Industry Investors to Fuel International Growth of its Infrastructure Platform and Developer Tools

SAN FRANCISCO, DECEMBER 17, 2019 / — Alchemy, the San Francisco-based blockchain company, today announced the debut of its infrastructure platform that enables enterprises to easily build real-world applications on top of blockchain technologies. Alchemy has raised $15 million in Series A funding from a group of leading institutional investors including lead investor Pantera Capital, Stanford University, Coinbase, Mayfield, SignalFire, Samsung, StartX, Kenetic, and Dreamers, and leading individual investors including Charles Schwab (founder, Charles Schwab) John Hennessy (chairman, Google), Reid Hoffman (founder, LinkedIn), Tom Glocer (former CEO, Thomson Reuters), Jerry Yang (founder, Yahoo). This round of financing will be used to accelerate the company's continued expansion into international markets.

Founded in 2017 by entrepreneurs and Stanford classmates Nikil Viswanathan and Joe Lau along with a team of industry veterans from Facebook, Google, Microsoft, Stanford, and MIT, Alchemy has quickly and quietly grown to become the globally leading blockchain infrastructure platform, powering hundreds of diverse businesses and serving over a million users weekly in over 200 countries globally. Alchemy's mission is to provide the critical infrastructure and tools that are essential to enabling mainstream blockchain adoption. Today, Alchemy currently works with the largest and most prominent companies and enterprises that use blockchain. Their customers operate across every sector, including finance, healthcare, gaming, entertainment, and many more.

Alchemy's platform provides developers with a revolutionary new blockchain infrastructure that is orders of magnitude more reliable, scalable, and performant than existing alternatives, as well as powerful blockchain-specific developer tools. By leveraging this platform, customers are able to greatly accelerate their product development and integrate with blockchain technologies while also drastically reducing costs. Alchemy's founders believe such developer infrastructure is critical to reaching widespread adoption of blockchain.

"Joe and I have seen that historically, great developer infrastructure was the catalyst for mainstream adoption of new technologies. The invention of the operating system brought computers to billions of people around the world," said Viswanathan. Lau continued, "we realized blockchain technology would develop in the same way, so we're working to enable mainstream adoption by providing the industry with the high quality infrastructure and developer tools that it needs."

Alchemy's investors, many of which played key roles in earlier technological shifts, also reinforced the belief that the company's infrastructure is critical to the success of the blockchain industry. "I've been closely involved in companies that shaped the earlier internet like Google," said Hennessy, Chairman of Alphabet and an Alchemy investor. "What Alchemy is doing in blockchain has the potential to be similarly transformational, and Nikil and Joe have the deep technical background and proven entrepreneurial track record to make it happen."

Alchemy has been powering infrastructure for select enterprises and blockchain companies around the globe for the past two years. Starting today, Alchemy's platform will become available more broadly, and interested companies can sign up at alchemyapi.io.

About Alchemy:
Founded in 2017 by Nikil Viswanathan and Joe Lau, Alchemy is the leading provider of blockchain infrastructure and developer tools. The company's products enable enterprises and developers to effectively build applications on top of blockchain technology. Today, Alchemy's platform currently powers hundreds of companies and enterprises, and serves over a million users weekly in over 200 countries globally. Headquartered in San Francisco, the company has raised $15 million to date. To learn more, visit alchemyapi.io.

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