This article comes fromThe Block, original author: Yogita Khatri
Odaily Translator | Nian Yin Si Tang
Summary:
This article comes from
, original author: Yogita Khatri
Odaily Translator | Nian Yin Si Tang
secondary titleSummary:- Dune Analytics completed the B round of financing with a valuation of US$1 billion.
- CEO Fredrik Haga said the company has plans for the future, including building a community of 1 million analysts and building an API.
Encrypted analysis platform Dune Analytics completed a $69.42 million Series B round of financing and joined the ranks of encrypted unicorns.
The round, led by hedge fund Coatue, brings Dune Analytics' post-money valuation to $1 billion,
Confirming what The Block reported last month
. Existing investors including Multicoin Capital and Dragonfly Capital also participated in the round.
Founded in 2018, Dune allows users to create data charts and dashboards to measure metrics such as DEX and NFT trading volume. The platform currently has 10,000 analysts and 100,000 analysis reports. Dune is free to the public, but it also has a paid product for custom data that costs $390 per user per month.
Last August,Dune calls its community of analysts "Dune Wizards," and pays many of them to create dashboards, Haga said. Haga said the company plans to attract more analysts to the platform and offer them incentives, as there is still a lot of blockchain data that is underutilized. “We believe this open data opportunity will enable a new generation of analysts to find work and add value in the crypto community,” he said.Haga went on to add that many non-developers have learned the SQL programming language, become Dune Wizards, and then found a full-time job in the encryption field.
He further explained that Dune Wizards are paid in cryptocurrency. When asked if Dune plans to launch a native token, Haga said there are currently no plans.
He also declined to comment on whether the Series B round was an equity round or a token round through a Simple Agreement for Future Tokens (SAFT) sale.
Dune Analytics Completes $8 Million Series A Equity FinancingAccording to data from The Block Research, Union Square Ventures (USV) led the investment, and Redpoint Ventures, Multicoin Capital, Dragonfly Capital, etc. participated in the investment. The round will fund its DIY Dashboard, which tracks transaction data from projects like CryptoPunk, Boring Bananas, and more. At the time, the startup did not disclose its valuation.
In addition to building a large analyst community, Dune also plans to provide more blockchain support for its platform. It currently helps fetch data from Ethereum, Polygon, Optimism, BSC, and xDAI. All major Ethereum Virtual Machine (EVM) chains, Solana and other networks will also be supported, Haga said.
Dune is also looking to build a "widely requested" API. The company also plans to expand its current team of about 20 people to about 200, Haga said.
