Icebreaker, a professional networking startup founded by former Coinbase and Google employees Dan Stone and Jack Dillé, has successfully secured $5 million in seed funding, with the company now being valued at $21 million. This recent investment will allow the small team of six to further develop their blockchain-based alternative to LinkedIn.
The funding round was led by Coinfund, with additional contributions from investors such as Accomplice, Anagram, and Legion Capital. The goal of Icebreaker is to create the world’s first open professional network, in contrast to the centralized control that LinkedIn currently has over digital identities. By utilizing blockchain technology, the platform aims to merge users’ professional profiles and networks into a single, secure channel, enabling instant credential verification and trustworthy endorsements.
CEO of CoinFund, Alex Felix, emphasized the potential of cryptocurrency in building foundational social graphs for various applications. He expressed his support for Icebreaker’s mission to provide individuals with true ownership of their professional identities online. The founders of Icebreaker hope to establish an open graph of reputation and identity, fostering shared context and trust among users.
Jack Dillé highlighted the issue of AI-generated noise and fake personas on traditional web2 platforms like LinkedIn by humorously listing himself as the “CEO of Google” on his profile. This demonstrates how easily misinformation can spread and deceive job seekers and recruiters. Icebreaker has previously collaborated with web3 companies such as Coinbase, Opensea, and Polygon Labs to test early versions of their platform.
Interestingly, Coinbase CEO Brian Armstrong had previously mentioned his interest in developing a decentralized alternative to LinkedIn back in September. Another player in the web3 space, Bondex, recently disclosed raising over $10 million as it positions itself as a competitor to LinkedIn. Bondex aims to offer a more interactive and engaging professional networking experience, similar to LinkedIn’s role as a hub for job seekers, recruiters, and businesses. The platform utilizes its native BDXN token to enable various functionalities and interactions among users.