In Brief:
- Dune Analytics raises $69.42 Million from Coatue and its existing investors, spurring Unicorn Status.
- It aims to double down on making crypto data accessible and building a community of 1 million analysts.
- It Announces to launch community-driven API to enable research, trading, and more.
Dune, a cryptocurrency analytics platform, has joined the unicorn club with a valuation of $1 Billion with its latest $69,420,000 Series B round led by investment hedge fund Coatue. Existing investors, Multicoin Capital and Dragonfly Capital also participated.
Dune has big plans in place with fresh capital in hand. It looks to build a community of up to 1 million analysts, support more blockchains, build an API, and massively expand its team.
The official announcement by the company’s co-founder and CEO, Fredrik Haga, read:
“There’s a ton of insights in crypto data, but without skilled and incentivized analysts coupled with great tooling, this information will remain hidden beneath the surface. With this financing, we’re doubling down on our mission to make crypto data accessible and are committed to bringing a million Dune Wizards to web3.”
Dune is a community-first platform that makes crypto data accessible and consumable to help investors use that data, analyze it on the Ethereum, Polygon, Optimism, Binance Smart Chain, and xDAI blockchains. The Company provides up-to-the-minute tools that allow data to be extracted, queried, dissected, and visualized in the form of real-time dashboards.
Dune Analytics is evolving crypto data literacy, opening up access to insights that are otherwise only made public on a quarterly basis in legacy finance only insiders get access to valuable data
Mentioning legacy finance, Frederick Haga ambitiously claims that being a Dune Wizard (Dune calls its community of analysts “Dune Wizards”) will be more profitable than being a Wall Street analyst.
Recently, consistent efforts by blockchains and crypto platforms are being made to scale blockchain applications and adopt web3 technologies through funding. Recently, Near Protocol raised $150 million to Boost Web3 Adoption.
