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Community Labs Funding : Raises $30M

Community Labs, a NYC-based Arweave*-native software development company and venture studio accelerating developer tools, use cases, and adoption of decentralized permanent data storage, raised $30m in funding.

The round was led by Lightspeed Venture Partners with participation from industry leaders Arweave, Bain Capital Crypto, Blockchain Capital, Distributed Global and Road Capital Management, alongside others.

The company intends to use the funds to hire engineers and operators.

Led by Tate Berenbaum, founder and CEO, Community Labs is a native software development company and venture studio focused on supporting Arweave adoption, ecosystem growth, and protocol development. The company will develop and support critical developer tools and foundational ecosystem solutions that onboard the next 1,000 active Arweave developers and founders, beginning with 3EM – short for Web 3 Execution Machine, a code agnostic smart contract framework.

Community Labs is modeled after ConsenSys, the software development company building on the Ethereum blockchain.

* Arweave is a protocol that allows users to store data permanently, sustainably, with a single upfront fee. It organizes people with hard drive space to spare (think Uber for storage) in a decentralized network (like Bitcoin), backed by a sustainable endowment. On top of the core Arweave protocol lives the permaweb, a global, permanent web of pages and applications that live forever.

Community Labs Raises $30M in Funding. Congratulations to the entire team. I wish you great success in this endeavour.

Shishir Gupta, Founder and CEO, StartupLanes

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