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Icebreaker, an on-chain professional network co-founded by former Google and Coinbase employees, has raised $5 million in a preliminary funding round led by CoinFund. The Web3 startup aims to create an open-source platform for professional connections, challenging LinkedIn's dominance.
Icebreaker Raises $5 Million to Challenge LinkedIn with Open-Source Professional Network
Icebreaker, an on-chain professional network that former employees of Google and Coinbase co-founded, has raised $5 million to advance its objective of becoming the first open-source platform for professional connections. The platform aims to compete with LinkedIn by developing an on-chain solution for the service. As global adoption increases, investment in cryptocurrency start-ups continues to increase steadily.
Icebreaker, a Web3 startup valued at $21 million, has secured $5 million in a preliminary funding round to create an open-source platform that facilitates professional connections. CoinFund spearheaded the funding round, including Anagram, Accomplice, and Legion Capital. Dan Stone and Jack Dille, the co-founders, elucidated that a single corporation should not own a professional's digital identity but should be public.
According to CoinGape, LinkedIn imposes restrictions on the management of connections, necessitating using paywalls to browse. With the web3 model, users can instantaneously verify their credentials and endorsement within their network by creating an open graph identity.
“Imagine if you click the login button, and then you see the entirety of your network across LinkedIn, Twitter, Farcaster, and email. Imagine how many intros could be more effectively routed if you could see the full picture of how you are connected with somebody.”
Users can leverage this open model to seamlessly seek opportunities online and avoid digital networking filled with fake personas. An example was when Dille’s LinkedIn read the CEO of Google, which shows Web2's vulnerabilities regarding the inability to verify claims. Alex Felix, the CEO of CoinFund, expressed delight at the ex-Coinbase and Google staff's creation of a professional digital identity platform.
Web3 Startup Icebreaker Attracts Attention with Leadership from Former Google and Coinbase Executives Amid Growing VC Interest
The community's interest has been piqued because the co-founders are from Coinbase and Google, respectively. Jack Dille served as a design director at Google Workspace, while Dan Stone was a program manager at Coinbase and was a member of Google's marketing platform.
VC and institutional interest in Web3 have increased this year due to its rapid adoption. This resulted in the spot crypto ETF frenzy in the United States, which drove the price of assets to new all-time highs.
