📣 We are incredibly excited to announce that we've:
Raised a $2M seed round lead by @dragonfly_cap!
— Dune Analytics (@DuneAnalytics) September 23, 2020
Other well-known firms in the industry were also involved including the likes of Multicoin Capital, Hashed, Coinabse Ventures and Digital Currency Group along with high profile angels like Aave’s CEO Stani Kulechov and newly christened Matteo Leibowitz of Uniswap.
Besides venture capital investors Dune has also garnered the interest of many DeFi power users who have found the platform’s tools to be indispensable. Other angels are prominent founders, builders, and traders in the space. The full list of investors who are also users of Dune can be found here.
Apparently, Andre Cronje of yEarn fame even sent a direct donation to the Dune team and refused any incentives in return.
Dune Analytics is building a global, real-time platform for on-chain data analysis, making all data open and remixable. This openness allows Dune to have faster and more up to date information than any of its competitors who have instituted more rigid restrictions in terms of what users can query.
The openness and ease of sharing Dune provide has propelled the project to become the default platform that crypto natives use to exchange data today. Even minimally technical users can now move beyond blindly trusting projects and look to verify data on-chain themselves by using the tools that Dune provides. The base features for Dune are and will always be free for everyone, but institutions looking to perform private queries and export results in a more presentable manner can opt for the pro plan which currently sits at $390 a month.
Dune Analytics was founded in Oslo, Norway by Fredrik and Mats back in 2018. After launching a free version of Dune in late 2019, the platform has experienced exponential growth as researchers and investors all over the globe leverage Dune for the advanced on-chain data analytics it can provide.
Up until now, Dune has been run entirely by its two co-founders. With this round of funding and the continued expansion of their user-base, the team is now looking to hire their first employees!
Check out Dune’s career page to see this growing startup might be a fit for you!
All and all, the closing of a high profile round goes to show that DeFi appetite is now expanding to the middleware sector as well. As a team who frequently uses Dune, this round serves as a strong signal that you don’t always need a token to drum up investor appetite.
To stay up with Dune Analytics, follow them on Twitter!