Alchemy is a developer platform that helps companies to build scalable decentralized applications without the hassle of managing blockchain infrastructure in-house. The company's developer platform allows enterprises to build decentralized applications and allows the enterprises to enter the blockchain industry without the need to manage the blockchain infrastructure. Similar to the way Apple and Amazon built platforms to help developers build on PCs, smartphones, and the cloud, Alchemy is working to build a platform that helps developers build on modern blockchains.Alchemy's software tools provide an off-the-shelf kit to help scale crypto applications, primarily on the Ethereum blockchains. This has allowed crypto firms fast-track complicated and expensive tasks like debugging and writing to nodes. Alchemy's offerings include other blockchains, such as Flow, Polygon, Arbitrum, and Optimism. Many projects in blockchain such as Augur, Cryptokitties, Kyber, Radar Relay, OpenSea, and Axie Inifinity work on Alchemy's infrastructure.Alchemy was founded in 2017 by Nikil Viswanathan and Joseph Lau, both graduates of Stanford University who had both previously worked in computer science and engineering at technology companies including Google, Microsoft, Facebook, Pinterest, Google, and LinkedIn, respectively. The company publicly launched in August of 2020, and has since launched a venture capital arm, Alchemy Ventures, and Web3 University, intended as an educational resource on blockchain development.

Alchemy has raised another $200 million in investments less than four months since its previous funding round. The latest funding round was led by Lightspeed and Silver Lake resulting in a renewed company valuation of $10.2. billion. Earlier investors such as Andreessen Horowitz (a16z), Coatue, and Pantera also participated.According to the company announcement on Feb. 8 2022, funding from the Series C-1 round will go towards expanding the team and doubling down on investment in the Web3 ecosystem.The blockchain startup was valued at $3.5 billion after a $250 million Series C round in October 2021. In late April, Alchemy raised $80 million in a Series B round that valued the firm at $505 million. The firm has seen staggering growth with a 3x surge in value since October 2021 and almost 20x since April 2021.

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