Dune Analytics raised a $69,420,000 Series B led by Coatue

Dune Analytics has closed its $69.42M Series B funding round led by Coatue to realize its mission of making crypto data accessible. With this new funding, they will educate, reward and empower a new generation of web3 data analysts aka Dune Wizards.

Blockchains are globally shared public backends where thousands of apps and millions of transactions create an ocean of data every day. As more and more financial activity moves to crypto, structuring and providing insights into this open data represents an opportunity that is many times bigger than any data business or product the world has seen to date. Some say Dune could become “as big as TradFi data tools”, but they think open blockchain data is a much bigger opportunity than siloed and paywalled data tools from the past. The revolution will not be reported quarterly.

There’s a ton of insights in crypto data, but without skilled and incentivized analysts coupled with great tooling, this information will remain hidden beneath the surface. With this financing, they are doubling down on their mission to make crypto data accessible and are committed to bringing a million Dune Wizards to web3. There are mainly three ways in which we will do this:

Educate – With Dune anyone can access blockchain data for free. But that only steps one, truly valuable insights come when you can dissect that data. As blockchains keep scaling to new users and use cases there’s going to be an ever-increasing need for understanding the data. With this new funding, they will invest heavily in educational resources to ensure that anyone can learn the valuable skills needed to analyze blockchain data, even users without technical backgrounds.

Reward – Historically, user-generated content has not been rewarded, but this time it’s different. There are already many individuals and groups getting paid for their Dune creations. We’ll embrace the web3 toolkit to ensure that Wizards adding value to the community will get paid accordingly, as they should. With the open data opportunity at hand,  they are convinced that many Dune Wizards will earn more than Wall Street analysts have done previously, all the while also having way more fun.

Empower – We will make Dune the most convenient and powerful data tool on the planet. A completely new Dune query engine will soon be live. It will dramatically speed up query execution time, allow them to support all major blockchains, and let Wizards analyze across all of them in one single query. Users will be able to bring their own data, both public and private, into Dune. Their application will support more features for teams and become even more collaborative. Last but not least they will ship one of the most requested features ever: the Dune API! This massive new product will change the crypto data stack forever, creating a living, breathing, and performant community-driven API to enable boundary-less research, building, tinkering, trading and beyond.

Dune Analytics reached unicorn status at only 16 employees, so if you want to have one of the highest impact jobs on the planet come join their rapidly growing team of galaxy brains: dune.xyz/careers

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