Announcing our $2M Seed Round

Filebase, the world’s first object storage platform powered by decentralized storage networks, announces a $2M+ seed round led by Multicoin Capital with participation from Version One Ventures and notable angels like Ryan Selkis.

Announcing our $2M Seed Round

In early 2018 we started researching the idea that would later become Filebase. At the time, the decentralized storage ecosystem was still very early. Networks had their own unique APIs and there was no standardization.

Back then, we were trying to figure out the best way to easily store data on the Sia network. In fact, one of the earliest MVP iterations of our product was titled SiaSync. As we continued to build our product, two things became very clear:

  1. Our API interface should be standardized on the S3 API, the de-facto gold standard of cloud native object storage.
  2. We could do this for many networks, not just Sia.
An early MVP iteration of our product

From that point forward, the vision for Filebase was born. Our "pivot" was simple: switch the name to ensure it wasn't network specific, and build the platform in a modular manner for easy future expansion. (File + Base) = Filebase

Fast forward to today, we have thousands of happy users on our platform, 3 network integrations, and we've processed more than 150 million objects. These numbers represent a growing and significant portion of the Web3 ecosystem.

Today, we are very excited to announce that Filebase has closed our initial seed round of funding totaling over $2M.

Led by Kyle Samani of Multicoin Capital, with participation from Boris Wertz of Version One Ventures, and notable angel investor Ryan Selkis (Founder & CEO of Messari).  

We couldn't have picked a stronger team that believes in our vision of making decentralized storage accessible and easy to use for everyone. The funds from this round we will be used toward accelerating the on-boarding process of existing customers in the pipeline, and supporting our growth by hiring more engineering, marketing, and sales talent.

Interested in joining us? Click here to see our open positions.

Why us?

The Filebase engineering team has a combined 30+ years of knowledge building large-scale backend web services that have been utilized by millions. Our sales talent has intimate experience selling to (and against) hyperscale cloud providers. Additionally, the Filebase leadership team has a pedigree across early-stage and hyper-growth SaaS startups. We believe this winning combination of skill, experience and (most-importantly) hustle is required when deciding to disrupt the cloud titans of today.

Why now?

With the growth of data over the next 5 years, growing to over 175 Zettabytes by 2025, we believe it’s not a question of if but when decentralized storage will become broadly adopted and mainstream. These technologies are a powerful, cost-effective, and highly-disruptive alternative to the traditional cloud providers of today, and it is the goal of Filebase to help make that a reality.

What's next? What about other networks?

The Filebase platform has had the ability to scale horizontally across multiple underlying networks from an early stage. We intentionally decided to build our platform in a modular fashion, allowing us to add more networks as time went on.

Our platform currently supports the Sia, Skynet and Storj networks and has plans to expand across the Filecoin and the Arweave networks by the end of 2021. Future plans to on-board additional networks will increase our scale and overall storage capacity that we can provide to customers.

Over time we expect to bring technologies such as AI and machine learning into the mix, enabling our unique data pipeline to strategically automate your storage workloads while helping to optimize cost and performance. It is scenarios like this where we can leverage cutting edge technologies to best serve each and every customer.

Thank you!

The Filebase team would like to thank the following groups:

  • Our customers! - We couldn't have gotten to this point without you.
  • Our partners! - Thank you for integrating with Filebase, and helping to enable our customers evolving needs.
  • The entire Skynet Labs team and Sia/Skynet ecosystem, for supporting Filebase since our Hello World! launch in May of 2019.
  • The entire Storj Labs team, for their support and partnership since our
    Hello, Storj! multi-network announcement in 2020.
  • Our (growing) advisory board for their guidance.
  • Kyle, Boris, Angela, Max, JR and Ryan for their unwavering belief in Filebase.
  • Our family, friends and anyone else reading this supporting Filebase.

That's all for today, much more to come!

- The Filebase Team