Web3 Data Platform Dune Analytics Propels to Unicorn Status After $69.4 Million Fundraise

The Web3 analytics platform Dune Analytics has introduced it has closed a $69.4 million Series B fundraise led by Coatue. The agency’s newest fundraise follows the corporate’s Series A final August when Dune Analytics raised $8 million. With the Series A and B mixed, the agency has been propelled to unicorn standing with a post-money valuation of $1 billion.

Dune Analytics Secures $69.4 Million in Series B Financing Round, Plans to Offer Financial Compensation to Contributors

On Wednesday, the decentralized finance (defi), non-fungible token (NFT), and Web3 analytics platform Dune Analytics revealed the corporate has raised $69.4 million in a Series B led by Coatue. Dune Analytics additional detailed that Multicoin Capital and Dragonfly Capital participated within the Series B fundraise as nicely. Dune Analytics is a community-based analytics platform that enables customers to entry Web3 knowledge and filter it into handy charts, graphs, and comparative metrics.

Dune Analytics says the brand new funds will assist bolster infrastructure but in addition assist hone an idea that provides monetary incentives. “Dune will leverage the funds to create an infrastructure that distributes monetary rewards for user-generated content material, attracting and incentivizing engagement from as much as a million new web3 analysts, generally known as Dune Wizards, inside the neighborhood,” the corporate’s announcement notes. The analytics agency’s announcement provides:

Dune Wizards is not going to solely have the ability to create custom-made visualizations that talk real-time on-chain intelligence, [but] they will even obtain monetary compensation for his or her ongoing engagement and contributions.

Venture Capital Flocks to Crypto Analytics Providers — Dune Analytics Co-Founder Says Crypto Ecosystem Data Is Extremely Valuable

Analytics platforms have completed very nicely over the past 12 months and a myriad of blockchain and crypto-related analytics corporations have raised thousands and thousands of {dollars} in financing. The NFT knowledge and analytics platform Cryptoslam raised $9 million throughout the first week of January. The crypto analytics enterprise Coin Metric secured $15 million in May 2021 and the analytics supplier Messari raised $21 million in August 2021.

Currently, Dune Analytics affords knowledge queries for 5 blockchains together with Ethereum, Binance Smart Chain, Xdai, Polygon, and Optimism. The firm mentioned it plans to “incorporate all Layer-1 and Layer-2 good contract platforms.” Dune Analytics co-founder and CTO, Mats Olsen mentioned that the info within the crypto ecosystem is “extraordinarily useful” and the agency hopes to spice up the platform’s efficiency this 12 months.

“Ever-increasing quantities of capital flows via the crypto ecosystem, in flip producing extraordinarily useful knowledge. The Dune neighborhood is extracting information from this knowledge at scale. Dune will present the mandatory instruments in order that customers of all talent ranges will have the ability to conduct extra considerate, impactful evaluation and achieve deeper perception into the ever-evolving world of Web3,” Olsen remarked in a press release despatched to Bitcoin.com News.

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