Storj Labs Raises $3 Million in Seed Funding

February 23, 2017

Dear Storj supporters,

Today we are excited to celebrate an important milestone that supports future innovation for Storj. Storj Labs, the company that develops the open-source network software and provides easy to use tools for the Storj network, has raised $3 million in seed funding. Angel investors from venture capital firms Google Ventures, Qualcomm Ventures and Techstars, as well as industry leaders in the technology security space, including Cockroach Labs, Ionic Security, and Pindrop Security, are among the early backers.

Data centers serve as cloud storage hubs for web service giants like Amazon, Microsoft, and Google. But data centers come with a high price tag for developers, providers and users, with an even higher cost associated with data failures and security breaches. From physical servers and networking equipment to other infrastructure demands like electricity, cloud service providers spend billions of dollars every quarter just to maintain or grow their service offerings.

Storj Labs aims to disrupt traditional cloud storage by offering faster speeds, heightened security, better performance, and a more cost effective storage solution. Storj Labs provides easy to use tools so that any developer can use the Storj network, without having to be an expert in distributed networking or encryption. Ease of use allows us to get the Storj network into as many hands as possible without compromising the distributed and decentralized nature of the network.

We have surpassed 15,000 API users who leverage the Storj network for secure and decentralized data storage. We are thankful for the continued support of the community, and can’t wait to show off all the new features we have been working on, made possible by this financing.

You can read today’s announcement here. Interested in earning money for your extra hard drive space? Become a Storj farmer! For developers looking to join our technical community, we have resources and documentation to help you start contributing. We hope you’ll join us!

The Storj Team

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