Longtime Bitcoin Bull Anthony Pompliano Launches Crypto Hire Firm Inflection Points Raising $12.6M

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For the past 18 months, Inflection Points has been working under the radar to build a cryptocurrency-focused employment and corporate training business and just received $12.6M in funding.

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The firm was founded by Colton Sakamoto and longtime crypto entrepreneur and investor Anthony Pompliano to help connect crypto companies looking for talent with people looking to enter the market.

“Obviously, most people know me from my investment activities,” Pompliano said. He manages a portfolio of over $500 million and has invested in over 100 early stage companies including cryptocurrency exchange Coinbase and newly acquired-FTX crypto-lending company BlockFi.

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Pompliano has also built up a significant presence on Twitter over the years, raising hype in the crypto space with bold predictions and efforts such as a nationwide Bitcoin Pizza brand and partnership with sneaker startup Atoms on Bitcoin brand a pair of shoes. It has also attracted some criticism for emphasizing efforts such as Terra to his followers.

“In addition, I have built a large content platform. In crypto, I have always asked the founders of various platforms what they need help with, and over and over they said, “If you have great talent, send it to me,” Pompliano said. “You expect it to some extent, but after hearing it so many times, I found out that companies really struggle to find people, and in the meantime, my inbox was full of people who wanted to jump into the industry.”

According to a press release, the company has been profitable since its inception and raised outside funding after its revenue reached seven figures.

At the same time, fundraising was not so much about money, but about finding suitable investors, Pompliano noted. “You get these people together, whether it’s $10 million, $12 million, or $15 million, it’s not as important as getting people to help us – those investors have been incredibly valuable.”

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

The firm also acquired Proof of Talent, a recruiting agency specializing in cryptocurrencies. According to Pompliano, Inflection Point has helped more than 1,000 people get new jobs in the crypto industry at large firms such as Coinbase, Gemini, Kraken, etc.

“[There’s] brain drain from Silicon Valley and Wall Street into this sector,” Pompliano said. World.”

In the long term, Pompliano expects that job opportunities in the crypto space will continue to expand.

“If you look at Google and Amazon, they offer blockchain as a service. All of these companies are going to do it, as are service providers like lawyers and accountants,” Pompliano said. “As a result, we will get an explosive growth of jobs in space. Some of these will be new companies, while others will be large existing businesses using products like Square. Some of them will change completely.”

In recent weeks there has been layoffs in many industries, including cryptocurrency. Name a few Twins, Crypto.com as well as Coinbase employees have been laid off, which is a concern for those who want to enter (or stay) in the crypto economy.

While the current crypto market is volatile, Pompliano stressed that there are also boom and bust cycles on the hiring front.

“Similar to the way investors worry during booms and don’t worry during recessions,” Pompliano said. “You see companies that hire hundreds of employees a year and others fire them.”




Credit: techcrunch.com /

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