Salad.Com Raises $17 Million In Series A Round Of Financing To Pioneer Affordable Decentralized Cloud Computing Services

StartUp City | Saturday, February 12, 2022

Fremont, CA: Salad, a compute-sharing network where gamers and everyday people exchange idle compute resources for rewards, has closed a $17 million Series A funding round to scale its cloud infrastructure and develop a new enterprise vertical for Web3 innovators. The round was led by Left Lane Capital and Origin Ventures, with participation from Royal Street Ventures, Kickstart Seed Fund, and Carthona Capital.

Salad is disrupting the traditional cloud services marketplace with a decentralized alternative powered by the world's idle gaming PCs, with one million downloads, 30,000 daily active nodes, and 100 PetaFLOPS peak processing power across its distributed network. Exponential demand is far outpacing the existing supply of commercially available computing resources, the world has reached its zenith, and the future web will be powered by millions of people all over the world. Salad has spent the last four years onboarding latent consumer-grade supply by incentivizing gamers to share computing resources, thereby fostering a more equitable Internet and powering Salad's workload-agnostic cloud services platform.

Salad has made significant inroads in addressing an untapped supply of powerful consumer resources, with 2.8 billion gamers worldwide. Salad, an open-source desktop application, invites gamers to securely and voluntarily share storage, bandwidth, as well as compute cycles from idle PCs. Salad offers meaningful rewards to network participants based on the number of resources shared to encourage user contributions that power various high-performance computing tasks. Salad's dedicated community of "Salad Chefs" has contributed more than 8,000 years of processing uptime to the Ethereum network and other blockchain ecosystems to date.

"Computesharing is the catalyst for everything Web3 should be. At Salad, we're building a future where millions of individuals can collaborate to achieve new technological milestones, and use the power of personal devices to compete directly with centralized cloud providers," stated Bob Miles, Founder and CEO of Salad Technologies. "With the help of thousands of Salad Chefs from across the world, our distributed network has already surpassed some of the world's top data centers. This raise validates our mission to decentralize the cloud, and will make the world's largest computing resource accessible to thousands more cloud customers and businesses."

Salad will use this latest funding round to expand its engineering team and accelerate the development of the SaladCloud platform, having achieved 10X network growth in 2021. Third-party enterprises will be able to access and scale Salad's affordable, compute sharing-powered cloud services through a new marketplace vertical.

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