Dune Analytics raises near-$70M in Series B funding round
Dune Analytics, a leading data analytics platform, has announced a capital raise of $69,420,000, in addition to a $1 billion-dollar valuation, the latter of which means that the company attained "unicorn" status, which describes privately-held startups that have attained a valuation of $1 billion or more.
The Series B raise was led by New-York based private equity firm Coatue, with additional participation from previous investors Multicoin Capital and Dragonfly Capital, among others.
The raise follows the company’s seed funding round of $2 million in September 2020 — of which Dragonfly Capital Partners was the lead investor — and its follow-up Series A raise of $8 million in August 2021 led by 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 throughout the space for providing real-time, on-chain quantitative metrics, graphics and charts on the crypto, blockchain, decentralized finance (DeFi) and more recently, nonfungible token (NFT) markets. As of now, the platform publishes blockchain data from Ethereum, Polygon, Optimism, Binance Smart Chain and xDAI.
Blockchains generate an *ocean* of dataAs more and more value moves to crypto...Extracting insight from it presents historic opportunities many times greater than siloed, paywalled data platforms of the TradFi pastThe revolution will not be reported quarterly
Related: Decentralized exchange aggregator trading volumes surge to new highs
In a new initiative to promote Web3, Dune is seeking to expand its existing community of 10,000 contributing analysts up to a figure of 1
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