Home Cryptocurrency Long-term Bitcoin bull Anthony Pompliano launches crypto recruiting firm Inflection Points, raises $12.6M – TechCrunch

Long-term Bitcoin bull Anthony Pompliano launches crypto recruiting firm Inflection Points, raises $12.6M – TechCrunch

by WOOWinvest
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Long-term Bitcoin bull Anthony Pompliano launches crypto recruiting firm Inflection Points, raises $12.6M – TechCrunch

Over the past 18 months, Inflection Points has been working in secret to build a cryptocurrency-focused employment and corporate training business, and has just secured $12.6 million in funding.

Founded by Colton Sakamoto and longtime crypto entrepreneur and investor Anthony Pompliano, the company aims to help crypto companies looking for talent connect with those who want to enter the space.

“Obviously, most people know me for the investing activities I do,” Pompliano said. He manages a portfolio worth over $500 million and has invested in more than 100 early-stage companies, including cryptocurrency exchange Coinbase and crypto lending firm BlockFi, recently acquired by FTX.

Pompliano has also built a significant presence on Twitter over the years, with bold predictions and efforts such as the national Bitcoin pizza brand and a partnership with startup sneaker company Atoms to launch a pair of Bitcoin-branded shoes, in There is a lot of hype in the cryptocurrency space. He has also faced some criticism for highlighting efforts like Terra’s to his followers.

“On the other hand, I built a large content platform. In crypto, I always ask the founders of different platforms what help they need, and they’ll say over and over again, ‘If you have a great talent, press Send them my way,'” Pompliano said. “You kind of think so, but after listening to it so many times, I’ve learned that it’s really hard for companies to find people, and at the same time my inbox is full of people who want to get into the industry.”

The company has been profitable since its inception and raised outside funding after hitting seven figures in revenue, according to the press release.

That being said, Pompliano points out that fundraising is not about money, but about finding the right investors. “You put these people together, whether it’s $10 million, $12 million, or $15 million, it’s not as important as getting people who can help us — these investors are very valuable.”

Investors in the round include billionaire investor Peter Thiel’s venture capital firm Thiel Capital, Fifth Down Capital, XYZ Fund, Rose Park Advisors, Blockchange and Third Prime. And angel investors such as Palantir’s former CFO Colin Anderson, Eight Sleep CEO Matteo Franceschetti, former Allergan CEO Brent Saunders and real estate developer Marc Roberts. Andrew Spellman, founder and managing partner of Fifth Down Capital, will join the board.

The company also acquired Proof of Talent, a cryptocurrency-focused recruiting agency. Pompliano shared that Inflection Point has helped more than 1,000 people get new jobs in the crypto industry at major companies like Coinbase, Gemini, Kraken, and more.

“[There’s] The brain drain from Silicon Valley and Wall Street to this industry,” Pompliano said, “It’s not just an American story, it’s a big part, and there are leadership opportunities right now, but there’s quite a bit of participation in various markets around the world. . “

In the long run, Pompliano expects job opportunities in the crypto space to continue to expand.

“If you look at Google and Amazon, they offer blockchain-as-a-service. All of these companies will do this, as will service providers like lawyers and accountants,” Pompliano said. “We’re going to end up with explosive job growth in the field. Some will be new companies, others will be large existing businesses, using products like Square. Some of them will be completely transformed companies.”

Many industries, including cryptocurrencies, have seen layoffs in recent weeks. The layoffs at Gemini, Crypto.com, and Coinbase, to name a few, have made some people looking to enter (or stay) in the crypto-economy even more concerned.

While the current crypto market is volatile, Pompliano emphasized that there are boom and bust cycles in hiring as well.

“Similar to how investors get excited in a boom cycle and not in a bust,” Pompliano said. “You also see that in companies, some are hiring hundreds of people a year, while others are laying off people.”

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