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Hive's €7 Million seed funding paves the way for next-gen P2P cloud services

June 1, 2022

Hive's €7 Million seed funding paves the way for next-gen P2P cloud services

A new era in cloud storage and computing

We are excited to announce the launch of Hive, a revolutionary peer-to-peer cloud storage and computing platform that aims to disrupt the future $1.3 trillion cloud storage and cloud computing markets. With the successful completion of a €7 million seed funding round led by Global Ventures and OneRagtime, we are prepared to bring the next generation of decentralized cloud services to the world.

Hive was founded by David Gurle, a renowned French serial entrepreneur and engineer who has pioneered IP communications and distributed computing. By leveraging idle capacity from computers across the globe, Hive aims to provide both computing and data storage services via our peer-to-peer network, hiveNet, rather than relying on a centralized set of data centers.

Benefits of decentralized cloud services

At Hive, we enable users to contribute their computer’s resources to the network in exchange for similar capacity from the network or monetary compensation. This creates a virtual distributed cloud by pooling all available computational and storage resources, allocating them based on demand, and rewarding users who provide these resources.

Our platform gives users - consumers and corporations - total control over their data in a secure, private environment. Hive aims to make storing and sharing data more accessible and affordable for everyone. Additionally, we are committed to significantly reducing computing and storage’s energy usage and carbon footprint by providing computing and storage resources closer to the users.

The future of cloud services: addressing market opportunities

The rising global demand for cloud storage and cloud compute services presents a vast market opportunity for Hive. According to independent data from MarketsandMarkets, the global cloud compute market is projected to increase to $947.3 billion by 2026, while The Brainy Insights forecasts the global cloud storage market to reach $353.8 billion by 2028.

As a decentralized P2P alternative cloud provider, Hive is perfectly positioned to disrupt the market dominance of Big Tech in fulfilling 50-70% of demand. Our platform addresses the growing concerns over security, privacy, and the environmental impact of data centers, as well as the increasing adoption of multi-cloud strategies to avoid vendor lock-in dependency.

Meet the visionary team behind Hive

David Gurle, Founder and CEO of Hive, brings his vast industry experience to our venture. He is the founder and former CEO of Symphony Communication Services, a $1.5 billion+ unicorn offering secure and compliant instant messaging services for financial firms. David also served as General Manager and Vice President of Skype’s Business unit, which was later acquired by Microsoft.

Our seed round investors include Noor Sweid, General Partner at Global Ventures; Stéphanie Hospital, Founder & CEO at OneRagtime; Tom Glocer, Lead Director of Morgan Stanley and Merck; Moritz Thiele, founder and former CEO of Finanzcheck.de; Kumar Yamani, CEO of OSI Digital; and LeFonds of FrenchFounders.

We are grateful for the support of our diverse group of international investors and are eager to make Hive the leading platform for decentralized cloud services, providing secure, affordable, and environmentally friendly storage and computing solutions for the world.

More about the company and our team, on our Hive company page!

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