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Anthony Pompliano Scores $12.6 Million to Support Crypto Workforce Liquidity, Buys Out Rival
Investors include investment firm Fifth Down Capital owned by Peter Thiel, former CFO of Palantir Pompliano's plan to launch a crypto job marketplace surfaced in January 2021 Anthony Pompliano, founder of Pomp Investments, said his cryptocurrency recruiting firm Inflection Points has 12.6 million Raised dollars in funding and announced a deal to acquire a competitor. In a Twitter thread on Wednesday, the entrepreneur said that investors included Thiel Capital, Fifth Down Capital, XYZ Fund, former Palantir CFO Colin Anderson and real estate developer Marc Roberts. Andrew Spellman, Founder and Managing Partner of Fifth Down Capital, will join the Board of Directors...
Anthony Pompliano Scores $12.6 Million to Support Crypto Workforce Liquidity, Buys Out Rival
- Zu den Investoren gehört die Investmentfirma Fifth Down Capital von Peter Thiel, ehemaliger CFO von Palantir
- Pomplianos Plan, einen Krypto-Jobmarktplatz zu starten, tauchte im Januar 2021 auf
Anthony Pompliano, founder of Pomp Investments, said his cryptocurrency recruiting firm Inflection Points has raised $12.6 million in funding and announced a deal to acquire a competitor.
In one Twitter thread On Wednesday, the entrepreneur said investors included Thiel Capital, Fifth Down Capital, XYZ Fund, former Palantir CFO Colin Anderson and real estate developer Marc Roberts. Andrew Spellman, founder and managing partner of Fifth Down Capital, will join the board of directors.
Separately, Inflection Points agreed to acquire New York-based crypto-focused recruiting firm Proof of Talent for an undisclosed sum. CEO Rob Paone said in a blogging that Proof of Talent will continue to operate independently. “From the perspective of job seekers, there will be no meaningful changes,” he wrote
Pompliano said his own company has helped over 1,000 people find jobs in the cryptocurrency industry and trained more than 4,000.
Turning Points Inc in numbers:
– Over 1,000 employees hired
– More than 4,000 people trainedMany infrastructure companies in the crypto space offer amazing products and tools (exchanges, wallets, data, etc.).
We provide for people. This is an important part.
—Pomp
(@APompliano) July 13, 2022
The platform joins a number of other Web3-based job boards including BlockAce, CryptoJobs and Crypto Recruit.
Blockworks reported on Pompliano's plan to launch a job market in January 2021, when sentiment towards cryptocurrencies was relatively more positive. He started the business with co-founder Colton Sakamoto and said the company is self-funded and growing quickly. “We're obsessed with profitability - that's the whole point of capitalism,” he wrote in a tweet.
The fundraising for its crypto jobs market comes during a bear market, as the industry faces a downturn triggered by the collapse of stablecoin TerraUSD and several companies face a liquidity crisis. Many well-known companies have had to cut their workforce, including Coinbase, Gemini, BlockFi and Crypto.com.
Still, most venture capital firms look for opportunities during market downturns as valuations are likely to be low. That's one reason why money is still flowing into the industry.
“Business models like some of the larger crypto trading firms are here to stay, and the names on the door may change as good risk management is exposed and bad risk management is punished,” said Matthew Sigel, head of digital assets research at VanEck.
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The post Anthony Pompliano Nets $12.6M to Help Crypto Labor Liquidity, Buys Rival is not financial advice.