The Series A round was led by New York equity capital giant Union Square Ventures with extra involvement from Redpoint Ventures. The VC companies sign up with existing investors Dragonfly Capital and Multicoin Capital.
The company detailed the strategies to utilize the $8 million in new financing in order to employ more personnel and expand the variety of blockchains it evaluates. Last September, Dune Analytics raised $2 million in seed funding.
We are on a mission to make crypto information accessible
Meaning every single metric from each and every single information source quickly readily available to the neighborhood totally free
The data must flow and for that reason we’ve raised a:$8M SERIES A LEAD BY @usv
https://t.co/MgHEKYGhKG pic.twitter.com/3PRMNCfTLr– Dune Analytics (@DuneAnalytics) August 12, 2021
Dune Analytics offers tools and a multitude of charts and graphs, but likewise permits users to produce their own information sets and charts.
Demand For Data
Dune is the latest blockchain analytics firm to fortify huge bucks from crypto investor. Previously this month, crypto analytics and market intelligence company Messari revealed that it had actually raised $21 million in a Series A financing round led by Point72 endeavors.
In late April Skew analytics was gotten by Coinbase, and the following week, Coin Metrics revealed the business raised $15 million in a Series B funding round that was led by Goldman Sachs. DappRadar raised $5 million last May, and at the end of June, crypto information company Nansen raised $10 million from investors.
Dune Analytics acknowledged that making crypto data accessible was getting harder as the industry broadens.
“Every brand-new product, chain, and scaling service increases information quantity and fragmentation as they grow in adoption and throughput. Nonetheless, we are figured out to realize this objective by making every single fascinating metric throughout every crypto information source easily available for free to the neighborhood.”
Broadening the Team
It added that there were more than 40 000 analyses on the platform consisting of metrics like DEX trading volumes, overall DeFi users, NFT trades, and so on. The Norwegian-based firm has simply 8 individuals working for it but can now expand using the money influx. The business presently has 7 open positions for data professionals, software application engineers, marketing, and item designers.
The announcement mentioned that Dune changes tradition financing’s PDF-based quarterly reports with living, breathing, real-time dashboards that will “change monetary reporting and transparency permanently,” with no quarterly reporting for the digital finance transformation.