Skynet Labs
It said it had millions of monthly users and still could not close a round
A Boston company, known until 2020 as Nebulous, that built Skynet, a decentralized storage and web-app hosting platform on the Sia network.
- Capital raised (announced)
Recorded announced backing; this is separate from cash received, customer deposits and money recovered.
Funding
| Round | Date | Announced | Investors |
|---|---|---|---|
| Pre-Series A | 2019 | ||
| Seed round | 2020 |
Announced is what was said at the time. Cash actually received is rarely disclosed and is not assumed to match.
People
| Name | Role | Period | Now | Last checked |
|---|---|---|---|---|
| David Vorick | — | Not established | Sep 2026 |
Timeline
2014
The company behind the Sia decentralized storage network.
10 July 2019
CoinDesk reported that the company was doubling its staff and turning to media streaming.
February 2020
An application hosting layer on Sia that users could reach without running a node or holding cryptocurrency.
22 September 2020
The company said it would concentrate solely on Skynet.
12 August 2022
How it ended
Ran out of money
Chief executive David Vorick announced that the company had been unable to complete its next round of fundraising and would shut down. It had already cut its staff by half, planned to cut half of those remaining over the following month, and said it would keep operating for twelve weeks to hand the platform to its community. He said the platform's users were largely outside crypto and so did not help a fundraising narrative, and that the team had grown too fast. He said Skynet itself would stay online and users' files would remain available.
Still alive
Open spot
Skynet Labs is gone. Is your storage network still running?
Spotlight your project here.
Sources
7 sources behind this page.
- 1Blockchain Firm Skynet Labs Shutters After Failing to Get New Funding · CoinDesk · Aug 2022
- 2Sia Network Raises $3.5 Million From Bain Capital to Become Crypto Hulu · CoinDesk (syndicated by Yahoo Finance) · Jul 2019
- 3Startup Behind Siacoin Storage Platform Raises $3M, Rebrands as Skynet Labs · CoinDesk (syndicated by Yahoo Finance) · Sep 2020
- 4Sia's Parent Company Raises $3 Million and Launches Rebrand · Crypto Briefing · Sep 2020
- 5Sia gets $3M seed round to accelerate development of its Web3 platform Skynet · CryptoNinjas · Sep 2020
- 6Siacoin creator Skynet to keep operating despite announced shutdown · CryptoSlate · Aug 2022
- 7Bain Capital Leads $3.25 Million In Nebulous Decentralized Cloud Storage Platform · Pulse 2.0 · Jul 2019
Every figure above is clickable and opens the sources behind it. Copies were stored when each source was read, so a citation still resolves after the page it came from is gone.