Oasis Labs has raised $45 million from prominent crypto and venture capital investors as it seeks to build privacy-first, high-performance cloud computing platform on blockchain.

The latest funding round has drawn support from a16zcrypto, Accel, Binance, DCVC (Data Collective), Electric Capital, Foundation Capital, Metastable, Pantera, Polychain, and more.

Oasis Labs has been founded by a team of academic and entrepreneurial leaders. The team is led by CEO Dawn Song, a MacArthur Fellow, Professor of Computer Science at University of California, Berkeley. Other co-founders include Raymond Cheng, a research scientist, open source software developer, and blockchain lecturer; Noah Johnson, a PhD candidate at UC Berkeley; and Bobby Jaros, former CEO of Lookflow which was acquired by Yahoo in 2013.

"It's exciting to see talented people like Dawn and her team working on ways to transition the internet away from data silos and towards a world with more responsible ways to share and own your data," said Fred Ehrsam, co-founder of Coinbase and Oasis Labs investor.

In its official release, Oasis Labs said that it is designing a platform to overcome performance, security and privacy limitations that have hampered blockchain adoption to date. The Oasis platform embodies two core values that would enable “sophisticated, computationally-intensive and privacy-sensitive services such as machine learning on the blockchain”:

• Bringing privacy and security protections previously not possible on a blockchain
• Delivering processing capabilities that have orders of magnitude greater performance than existing systems, even for complex applications

"Blockchains are poised to revolutionize much of the way we live, but many developers and organizations have understandable concerns about performance and privacy limitations that are currently hindering their ability to embrace the technology," Song said. "The Oasis platform aims to help users leverage and reclaim control over their data, and at the same time deliver superior performance and privacy capabilities. Our goal is to build the scalable and secure decentralized internet that puts users first."