COMPANY PROFILE

SubQuery

Helping Polkadot/Substrate projects build better dApps by allowing anyone to reliably find and consume data, Helping Polkadot/Substrate projects build better dApps by allowing anyone to reliably find…

Singapore, SingaporeFounded 2020Other B2B Software

Valuation $0–100M Latest valuation · 2023

Revenue $1–10M Latest reported FY

Headcount <100 Current team size

Total funding $10–50M Disclosed equity funding

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About SubQuery

SubQuery is a decentralized data infrastructure provider for the Web3 ecosystem, founded in 2020 and officially launched in early 2021 by the team at OnFinality. The company was established by Sam Zou, who serves as the CEO, alongside co-founders Ian He (CTO) and James Bayly (COO). Zou's experience as General Manager at Centrality, where he led a significant ICO, highlighted the market's need for robust blockchain data infrastructure, leading to SubQuery's creation. The company operates out of New Zealand.

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The firm provides developers with the tools to build, deploy, and scale decentralized applications (dApps) by offering a comprehensive suite of Web3 infrastructure services. Its core offerings include a fast and flexible open-source data indexer, scalable decentralized RPCs (Remote Procedure Calls), and an AI application framework. SubQuery's services are designed to abstract the backend complexities of blockchain data processing, allowing development teams to focus on their core product and user experience. The platform supports nearly 300 networks, including Polkadot, Ethereum, Cosmos, and Solana, distinguishing itself with broad, multi-chain support, especially for non-EVM ecosystems.

SubQuery's business model is centered on its decentralized network and the utility of its native token, SQT. The network functions as a marketplace where consumers pay for blockchain data services—such as indexed data, RPC queries, or AI model hosting—using SQT tokens. This creates a system where node operators are incentivized to provide reliable and performant infrastructure. Revenue is generated from these transactions within the network, as well as through a managed service where SubQuery hosts projects for clients, which includes a free tier to encourage adoption. The company has successfully raised a total of $13.1 million over five funding rounds, including a notable $9 million Series A led by Arrington XRP Capital in September 2021. The SubQuery mainnet officially launched in February 2024.

A key feature is its ability to allow developers to query data from a specific block height or timestamp, enabling applications that can show historical state changes. Furthermore, the platform supports multi-chain indexing, which lets developers aggregate data from different layer-1 networks into a single database and query it via one unified endpoint. To facilitate adoption, the company provides an open-source SDK, extensive documentation, and tools designed to make migration from other platforms, like The Graph, straightforward.

Source: Dealroom company data