Key Takeaways
- BlockJoy has raised nearly $11 million in combined Seed + Series A funding from multiple investors.
- The company provides a whitelabel blockchain nodes-as-a-service for node hosting enterprises, offering a node management solution that is two to three times less expensive than traditional cloud providers.
- The funding will be used to support the launch of BlockVisor, BlockJoy’s patented node management software, which is now open for beta sign-ups.
- BlockJoy offers a decentralized approach to operating Web3 infrastructure, giving customers complete control over where they deploy their nodes and providing significant cost and time savings.
BlockJoy, a provider of blockchain nodes-as-a-service, has secured nearly $11 million in seed and series A funding. Investors include Gradient Ventures, Borderless HNT, Draper Dragon, Dragon Roark, Active Capital and Renegade Ventures.
BlockJoy will use the funding to launch BlockVisor, its node management software that allows enterprises to deploy and manage blockchains, nodes, validators and ETLs (extract, transform, load) at a cost that is up to 80% cheaper than traditional cloud providers.
BlockJoy was created to tackle the lack of decentralized infrastructure for blockchains. It offers a node management solution that is two to three times cheaper than traditional cloud providers. The company began as a staking service for CEO Chris Bruce and CTO Sean Carey’s friends and family, but quickly grew once they began running nodes for businesses.
BlockJoy’s technology allows businesses to support new protocols within weeks instead of the typical four to six months. The company offers a decentralized approach to Web3 infrastructure that gives customers complete control over where they deploy their infrastructure and saves them from the high cost of cloud services.
BlockJoy is a significant benefit to enterprise node operators such as Blockdaemon, Bison Trails, QuickNode and Alchemy, as it significantly lowers operating costs and streamlines the time it takes to support new chains. Six months into its launch, BlockJoy was running 1,200 validators for the Helium Network with cost efficiency of up to 80%.
Along with Helium, BlockJoy’s customers include Binance, Crypto.com, Indodax, Seeed Studio and Gate.io. The company is quickly onboarding new chains including Ethereum 2, Cosmos, Polygon, Solana, Algorand and Avalanche, with full push-button support for 25 blockchains expected by the end of its initial beta run.
Anna Patterson, managing partner at Gradient Ventures, believes BlockJoy has the potential to become essential to the Web3 economy, adding: “We’re at an inflection point with blockchain technology. Investing in its infrastructure development is more important than ever because it will pave the way for the entire industry.”
Read Also: Theta Capital Management Launches TBV III Fund to Invest in Early-Stage Blockchain Infrastructure
