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

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

The famous blockchain analytics platform Dune Analytics has seen a capital hike of $69,420,000. Also, Dune Analytics has received 1 billion dollars which shows that the company is one of the privately-owned startups to achieve ‘unicorn’ status. By unicorn status, we mean that the company has successfully crossed the mark of 1 billion dollars.

Dune Analytics is known for its correct graphs, charts, and metrics on digital assets, including cryptocurrency, blockchain, non-fungible token (NFT), and decentralized finance (DeFi) market.

Coatue, which is a New York-based private company, lead the raise in Series B. Further, certain other equity investors like Dragonfly Capital and Multicoin Capital also contributed to Series B. Currently, the company is publishing the data from different platforms, including Ethereum, xDAI, Optimism, and Binance Smart Chain.

How will the funds get used?

Recently, the announcement was made which tells that all the funds will be used in various sectors. The new generation of analysts will be educated, rewarded, and nurtured. Further, the analysts will get an insight into Web3 data.

Dune has planned to expand the community of 10,000 skillful analysts to around a million. This step will ultimately need a lot of brilliant analysts; also, the funds will serve as a means to train new analysts in Dune. The new community will be responsible for handling, analyzing, and creating engaging content. The analysts need to keep in mind that the data will be for investors and their investments depend on it, so every piece of information provided by them is crucial.



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