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HomeDefi NewsDemand For Data: Dune Analytics Raises $8M in Series A Funding

Demand For Data: Dune Analytics Raises $8M in Series A Funding

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The Series A spherical was led by New York enterprise capital big Union Square Ventures with further participation from Redpoint Ventures. The VC corporations be a part of current buyers Dragonfly Capital and Multicoin Capital.

The firm detailed the plans to leverage the $8 million in new financing in order to rent extra workers and increase the variety of blockchains it analyzes. Last September, Dune Analytics raised $2 million in seed funding.

Dune Analytics provides instruments and a large number of charts and graphs but in addition permits customers to create their very own information units and charts.

Demand For Data

Dune is the most recent blockchain analytics agency to shore up huge bucks from crypto enterprise capitalists. Earlier this month, crypto analytics and market intelligence agency Messari announced that it had raised $21 million in a Series A financing spherical led by Point72 ventures.

In late April, Skew analytics was acquired by Coinbase, and the next week, Coin Metrics revealed the corporate raised $15 million in a Series B financing round that was led by Goldman Sachs. DappRadar raised $5 million final May, and on the finish of June, crypto information agency Nansen raised $10 million from buyers.

Dune Analytics acknowledged that making crypto information accessible was getting more durable because the business expands.

“Every new product, chain, and scaling solution increases data amount and fragmentation as they grow in adoption and throughput. Nevertheless, we are determined to realize this mission by making every single interesting metric across every single crypto data source easily accessible for free to the community.”

Expanding the Team

It added that there have been greater than 40 000 analyses on the platform, together with metrics like DEX trading volumes, complete DeFi customers, NFT trades, and so on. The Norwegian-based agency has simply 8 individuals working for it however can now increase utilizing the money inflow. The firm at the moment has 7 open positions for information specialists, software program engineers, advertising, and product designers.

The announcement acknowledged that Dune replaces legacy finance’s PDF-based quarterly reviews with dwelling, respiration, real-time dashboards that may “change financial reporting and transparency forever,” with no quarterly reporting for the digital finance revolution.

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(This story has not been edited by CryptoNFT | Latest News Live and is revealed from a syndicated feed.)

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