Blockchain platform Alchemy raises 250M in Series C led by Andreessen

San Francisco-based blockchain web services company Alchemy announced a $250 million Series C fundraising round led by Andreessen Horowitz on Thursday, bringing its current valuation to $3.5 billion.

This announcement comes hot on the heels of a late April $80 million Series B, which previously valued the startup at $505 million. Pantera Capital, Redpoint, Lightspeed Venture Partners, Coatue, DFJ and Lee Fixel’s Addition also participated in the Series C round. According to founders Nikil Viswanathan and Jon Lau, the company is “very profitable” and thus far, has not spent any of that money, but plans to use the new capital to build a community around blockchain.

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