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Dune Analytics has raised over $70 million in a Series B round of funding

The blockchain analytics employer has seen its valuation grow as extra crypto users count on its offerings for knowledgeable decision-making.

Dune Analytics, a leading information analytics platform, has introduced a capital raise of $69,420,000, in addition to a $1 billion-dollar valuation, the latter of which skill that the business enterprise attained “unicorn” status, which describes privately-held startups that have attained a valuation of $1 billion or more.

The Series B elevate used to be led by means of New-York based totally private fairness firm Coatue, with additional participation from preceding traders Multicoin Capital and Dragonfly Capital, among others.

The elevate follows the company’s seed funding round of $2 million in September 2020 — of which Dragonfly Capital Partners used to be the lead investor — and its follow-up Series A increase of $8 million in August 2021 led by way of Union Square Ventures.

According to the announcement, the capital will be utilized to “educate, reward and foster a new generation of analysts, who will be empowered with real-time, actionable insights into Web3 data.”

Dune Analytics is highly-regarded at some point of the house for imparting real-time, on-chain quantitative metrics, snap shots and charts on the crypto, blockchain, decentralized finance (DeFi) and greater recently, nonfungible token (NFT) markets. As of now, the platform publishes blockchain data from Ethereum, Polygon, Optimism, Binance Smart Chain and xDAI.

In a new initiative to promote Web3, Dune is in search of to increase its current community of 10,000 contributing analysts up to a figure of 1 million through the construction of a community-centric structure that incentivizes contribution on the platform.

Referred to as Dune Wizards, this community of analysts will be accountable for creating compelling content in the pursuit of decentralizing knowledge, and in turn, empowering buyers to make insightful, data-backed decisions. This marks an evolution of the walled-garden regular economic market mannequin in which Wall Street buyers have been granted informational blessings over their retail counterparts.

Dune co-founder and chief education officer Mats Olsen pledged to construct a community-centric model in the Web3 landscape:

“Dune will furnish the necessary tools so that users of all talent ranges will be capable to habits extra thoughtful, impactful analysis and reap deeper perception into the ever-evolving world of Web3.”


Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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