Funds will support Salad’s efforts to facilitate Web3 innovation and meet exponential demand for data through peer-to-peer #computesharing

SALT LAKE CITY, Utah, April 20, 2022 /PRNewswire/ — salada compute-sharing network where gamers and ordinary people exchange idle compute resources for rewards, a $17 million Series A funding round to scale its cloud infrastructure and grow a new vertical business for Web3 innovators. The tour was led by Left Lane Capital and Originating companies with the participation of Kickstart Seed Fund, Royal Street Businesses and Capital of Carthona.

With one million downloads, 30,000 daily active nodes, and a peak processing power of 100 PetaFLOPS across its distributed network, Salad is disrupting the market for conventional cloud services with a decentralized alternative powered by the world’s idle gaming PCs. The exponential demand is drastically outstripping the existing supply of commercially available computing resources, the world is at its peak, and the future web will be powered by millions of individuals across the globe. Salad has spent the past four years integrating latent consumer-grade supply by inspiring gamers to share computing resources, create a fairer Internet, and power the workload-independent cloud services platform of Salad.

With 2.8 billion players worldwide, Salad has made substantial inroads in tackling an untapped supply of powerful consumer resources. The open-source Salad desktop app invites gamers to share storage, bandwidth, and compute cycles from idle PCs securely and voluntarily. To encourage user contributions that power various high-performance computing tasks, Salad offers network participants meaningful rewards based on the amount of shared resources. To date, Salad’s dedicated community of Salad Chefs has contributed over 8,000 years to the availability of processing to support the Ethereum network and other blockchain ecosystems.

“Computesharing is the catalyst for everything Web3 should be. At Salad, we are building a future where millions of people can collaborate to achieve new technology milestones and use the power of personal devices to directly compete with centralized cloud providers,” said Bob Miles, Founder and CEO of Salad Technologies. “With the help of thousands of Salad Chefs around the world, our distributed network has already surpassed some of the best data centers in the world. This increase validates our mission to decentralize the cloud and will make the largest computing resource in the world accessible to thousands of other cloud customers and businesses.”

After increasing network growth 10x in 2021, Salad will use this latest round of funding to expand its engineering team and accelerate the development of the SaladCloud platform. A new vertical marketplace will allow third-party businesses to access and scale using Salad’s affordable, shared compute-powered cloud services.

“The Salad Network is an incredibly unique asset. Proof of work mining has provided the network with a passive revenue generation stream and Salad is now targeting more specialized and discrete workloads with its powerful computing network. Salad base should appeal to all enterprise customers looking for affordable, elastic cloud solutions. We look forward to supporting the Salad team as they and their community of volunteers come together to build the most largest distributed data center in the world,” said Derek Urben at Left Lane Capital.

“The future of cloud computing includes individual, networked resources. We are excited to support a team of innovators, engineers, and futurists dedicated to delivering a first-of-its-kind cloud solution,” added Brent HillManaging Partner at Origin Ventures.

Salad will grow its team from 20 to 70 over the course of the year, primarily focusing on expanding its engineering department, but also looking to recruit business development experts to help source, identify and onboard more enterprise customers for the SaladCloud distributed cloud services platform. Benjy BoxerCEO and co-founder of Parsec, will also join Salad’s board of directors to provide growth strategy guidance.

To find out more, visit salad.com.

About Salad Technologies
Salad Technologies is building a versatile, completely people-powered cloud computing platform. In a world where 400M powerful gaming PCs sit idle most of the day, Salad’s open-source desktop application allows individuals to earn significant rewards with their private hardware. Salad users contribute latent compute resources, such as CPU cycles and bandwidth, to support third-party workloads on a distributed network, where they redeem millions of games, gift cards, and more. subscriptions and other digital rewards each year. Salad is the easiest and most reliable way to calculate the split.

With thousands of Internet users using Salad in 188 countries, the Salad computing sharing network has quickly become the most distributed supercomputer in the world. Salad now aims to disrupt the centralized cloud market by offering comparable, decentralized computing solutions at a fraction of the cost. The SaladCloud platform will soon power cryptomining pools, P2P gaming, VPN services, deep learning data synthesizers, AI modeling, and anything else that requires hard processing.

About Left Lane Capital:
Left Lane Capital is a leader New Yorka global growth-based private equity firm that invests in high-growth internet and consumer technology companies. Left Lane’s mission is to partner with extraordinary entrepreneurs building businesses that define categories fundamental to the human condition and spirit. Previous investments include GoStudent, Masterworks, M1 Finance, Tovala, FightCamp, Wayflyer, Tapcart, etc. For more information, please visit www.leftlanecap.com.

About Origin Ventures:
Origin Ventures is a leading venture capital firm investing in the native digital economy. The company invests in elite teams that create high-growth software, marketplaces and consumer businesses that define the way Millennials and Gen Zers live, work and play. Previous investments include Cameo, Veho, BacklotCars, Fountain, 15Five, Tock, Tovala, Blueboard, Grubhub and many more. For more information, please visit www.originventures.com.

Contact:
Avery O’Neil
2057479682
[email protected]

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