Alchemy, a company that provides a developer platform for blockchain, has raised a $250 million Series C round of funding.

The investment was led by Andreessen Horowitz (a16z). Lightspeed and Redpoint also participated in the funding round, along with existing investors Coatue, Addition, DFJ, and Pantera.

The latest funding pegs Alchemy at a $3.5 billion valuation.

[Image courtesy: Alchemy]