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Dune Analytics, Home of DIY Data Dashboards, Raises $8M in USV-Led Series A
Dune lets anyone with on-chain know-how share their data creations with the world.
By Danny Nelson
Updated May 9, 2023, 3:22 a.m. Published Aug 12, 2021, 2:00 p.m.
Dune Analytics raised $8 million to fund its do-it-yourself dashboard for tracking everything from million-dollar CryptoPunk trades to the piddling daily volume of projects like Boring Bananas.
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The three-year-old project’s Series A was led by Fred Wilson’s Union Square Ventures with participation from Redpoint Ventures, CEO Fredrik Haga told CoinDesk. Previous investors Multicoin Capital and Dragonfly also joined in. The round closed a few months ago, he said.
Haga, who lives in Norway, helms a Eurocentric team of developers working to make Dune’s crypto analytics toolkit über-accessible. Anyone with enough on-chain know-how can piece together real-time data dashboards – then share those creations with the world.
That makes Dune something of a black sheep in crypto’s fast-growing stats industry. More established competitors roll out carefully tailored analytics, research and data products that lately garner multimillion-dollar raises from Wall Street types.
Read more: Hedge Fund Billionaire Steven Cohen’s Point72 Leads $21M Funding Round in Messari
At press time, Dune hosted at least 6,817 user-built “recipes” (not all of the dashboards function) tracking EIP 1559 burn rates, Pudgy Penguin sales floors, crypto lending activity, Uniswap trading pairs and many other decentralized finance (DeFi) data streams.
“There's like 40,000 analyses and unique pieces of analysis on Dune,” Haga said, and 4,000 analysts building them. He said Dune’s audience is “way broader than that.”
Read more: DeFi Angels, VC Firms Back $2M Round for Data Provider Dune Analytics
Haga said Dune’s strength is as an open platform where anyone can tool around. It’s made possible by a core facet of blockchain tech: everything is transparent, traceable and (with a little software savvy) accessible for anyone with the time to dive in.
“No developer skills are needed,” Haga said. “You can just go to our website, do a query, produce results and share it directly. And that has proven to be extremely powerful.”
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