Web3 Data Platform Dune Analytics Propels to Unicorn Standing After $69.4 Million Fundraise – Finance Bitcoin News
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The Web3 analytics platform Dune Analytics has launched it has closed a $69.4 million Series B fundraise led by Coatue. The firm’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 corporate 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 contained in the Series B fundraise as appropriately. Dune Analytics is a community-based analytics platform that allows prospects to entry Web3 information and filter it into useful charts, graphs, and comparative metrics.
Dune Analytics says the mannequin new funds will assist bolster infrastructure nonetheless in addition to assist hone an idea that gives monetary incentives. “Dune will leverage the funds to create an infrastructure that distributes financial rewards for user-generated content, attracting and incentivizing engagement from up to one million new web3 analysts, known as Dune Wizards, within the community,” the corporate’s announcement notes. The analytics firm’s announcement provides:
Dune Wizards is not going to solely have the ability to create personalised visualizations that debate real-time on-chain intelligence, [but] they may even purchase 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 accomplished very appropriately over the previous 12 months and a myriad of blockchain and crypto-related analytics firms have raised 1000’s and 1000’s of {{{dollars}}} in financing. The NFT information and analytics platform Cryptoslam raised $9 million by the use of 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 provides information queries for 5 blockchains together with Ethereum, Binance Smart Chain, Xdai, Polygon, and Optimism. The company acknowledged it plans to “incorporate all Layer-1 and Layer-2 smart contract platforms.” Dune Analytics co-founder and CTO, Mats Olsen acknowledged that the info contained in the crypto ecosystem is “extremely valuable” and the corporate hopes to spice up the platform’s effectivity this yr.
“Ever-increasing amounts of capital flows through the crypto ecosystem, in turn producing extremely valuable data. The Dune community is extracting knowledge from this data at scale. Dune will provide the necessary tools so that users of all skill levels will be able to conduct more thoughtful, impactful analysis and gain deeper insight into the ever-evolving world of Web3,” Olsen remarked in a press launch despatched to Bitcoin.com News.
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