We've raised a $69,420,000 Series B led by Coatue

We’re excited to announce that we’ve raised $69,420,000 in a Series B round led by Coatue to realize our mission of making crypto data accessible.

We’re excited to announce that we’ve raised $69 420 000 in a Series B round led by Coatue to realize our mission of making crypto data accessible. With this new funding we will educate, reward and empower a new generation of web3 data analysts aka Dune Wizards.

We reached unicorn status at only 16 employees and are growing quickly so if you want to have one of the highest impact jobs on the planet: dune.xyz/careers

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 we 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 we’re doubling down on our 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’s only step 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 we’ll 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. While we have no plans to issue a token, 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 we’re 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 us 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. Our application will support more features for teams and become even more collaborative. Last but not least we’ll ship one of our 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.

Crypto prices go up and down, and for the first two years of Dune’s existence prices were down. We kept building with high pace and conviction for the community regardless. This financing will allow us to build out the Dune team, product and community aggressively to make crypto data accessible, even through a sustained bear market.

Oh and yes to make all of this happen we are hiring big time. We’ve reached unicorn status at only 16 employees, so if you want to have one of the highest impact jobs on the planet come join our rapidly growing team of galaxy brains: dune.com/careers

If you want to start your crypto data journey and become a Dune Wizard today join our Discord and check out all the educational material in our docs. Dune Wizards are in high demand, and no prior knowledge or coding experience is required.

The data must flow.

/Dune Founders Fredrik and Mats

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