On 2 February 2022, popular blockchain and crypto analytics firm, Dune Analytics, announced that it had raised more than $69 million in a Series B funding round. According to the online news sources, the company also announced that with only sixteen employees, it had reached the unicorn status. It further stated that the funding received in the latest round will be invested in the educational resources and building of tools that will allow the company to interpret data better. The Series B funding round was reportedly led by an investment management company, Coatue, which is majorly focused on technology.
Dune Analytics provides free blockchain-related data to users. It also enables the users to create charts and specific data sets for different types of on-chain metrics. Although there is a lot of data available on the blockchain, it is not easily comprehendible. The analysts can help in interpreting and converting this information in an easy-to-understand form. The company has stated that it will use the financing to double down on its mission to increase people’s access to crypto data.
Dune Analytics is committed to building an accessible educational resource for people who do not have a technical background. The company will also create a toolkit for the Dune Wizards, who are the people that will be creating the data sets. Besides this, the analytics company is also planning to upgrade, revamp and speed up the execution time of its query engine. In addition to this, Dune Analytics also plans to add many more blockchain networks to its platform.