In Series A Funding, Crypto Data Firm Dune Analytics Raises $8M

In Series A Funding, Crypto Data Firm Dune Analytics Raises $8M

The A-Round Series, headed by the New York risk capital behemoth Union Square Ventures with additional Redpoint Ventures involvement. VC companies join current Dragonfly Capital and Multicoin Capital investors.

The business revealed its intentions to leverage 8 million dollars of fresh funding to recruit more employees and extend its blockchain analysis. Dune Analytics received $2 million in initial financing last September.

It provides tools, plenty of charts and enables customers to build data sets and graphs themselves. Moreover, Dune is the latest blockchain analytics company to hedge significant dollars from crypto venture capitalists. At the beginning of this month, the crypto analytics and market intelligence company Messari revealed that it received $21 million in the Point72 ventures Series A funding round.

High Demand for Data

Skew Analytics, purchased by Coinbase in late April. While Coin Metrics reported $15 million in a Series B investment headed by Goldman Sachs the following week. DappRadar raised five million dollars in May, with Nansen collecting $10 million from investors at the end of June.

Dune Analytics has discovered that it is becoming tougher to obtain crypto data as the sector grows.

“At Dune Analytics we’re on a mission to make crypto data accessible. “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.”

More than 40,000 platform analyses, comprising metrics such as DEX trade volumes, total DeFi users, NFT transactions, and so forth, also carried out. The Norwegian company has just eight employees but may now grow with the cash flow. Currently, the business has seven available jobs for data experts, software engineers, marketing, and product designers.

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A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.