Dune Analytics has raised $69,420,000 in a Series B funding round to bring its valuation to $1 billion, in an expansion plan.
The Norway-based entity notes that the funds would assist in the creation of an infrastructure that distributes financial rewards to content makers and the onboarding of about 1 million more Web 3.0 analysts into the community.
The funding round was led by Coatue. Multicoin Capital and Dragonfly Capital also took part. The firm’s co-founder Fredrik Haga notes that they had raised about $80 million in total.
More than 10,000 analysts have reportedly created roughly 100,000 queries on Dune’s system. Haga notes that the step would open up data to the public.
The executive adds that the company would integrate major blockchains in the future, comprising both layer one and layer two smart contracts platforms.
Dune analytics provides on-chain crypto data tools that enable users to generate instant dashboards in five blockchains, Ethereum, Optimism, Polygon, BSC, and Gnosis.