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Over the past 18 months, Inflection Points has worked in stealth mode to build a crypto-focused employment and corporate training business and secure $ 12.6 million in funding.
The company was founded by Colton Sakamoto and longtime crypto entrepreneur and investor Anthony Pumpriano to connect crypto companies looking for talent with those who want to enter the space.
“Obviously, most people know me in the investment activities I’ve done,” said Pumpriano.He manages a portfolio worth more than $ 500 million, including the cryptocurrency exchange Coinbase. Recently acquired by FTX Cryptographic lending company BlockFi.
Pompliano has also built a real Twitter presence over the years by boosting hype in crypto space with bold predictions and efforts, as nationally. Bitcoin pizza Partnership between brand and startup sneaker company Atoms Bitcoin brand One pair of shoes.He has also gathered some criticism Emphasize efforts like Terra To follow him.
“On the other hand, I’ve built a large content platform. In cryptocurrencies, I’ve always asked the founders of different platforms many times that they need help,” you’re a great talent. If you have, please send them my way, “says Pompliano. “I’m expecting it to some extent, but I’ve learned many times that companies are really struggling to find people, but in the meantime my inbox is full of people who want to get into the industry. did.”
According to a press release, the company has been profitable since its inception and raised external funding after its revenue reached seven digits.
That said, financing wasn’t about getting money, it was about getting the right investors, Pompliano said. “Bringing these people together, whether $ 10 million, $ 12 million, or $ 15 million, wasn’t as important as getting people to help us. These investors It was very valuable. “
Round investors include billionaire investor Peter Thiel’s venture capital, Fifth Down Capital, XYZ Fund, Rose Park Advisors, Block Change and Third Prime. There are also angel investors such as former Palantir 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, has joined the Board of Directors.
The company also acquired Proof of Talent, a crypto-focused recruitment agency. Inflection Point has helped more than 1,000 people in major companies such as Coinbase, Gemini and Kraken get new jobs in the crypto industry, Pompliano shared.
“”[Theres] A brain drain from Silicon Valley and Wall Street into this sector, “says Pumpriano. “This isn’t just an American story, it’s a huge part of it, and there are current leadership opportunities, but the world.”
In the long run, Pompliano hopes that employment opportunities in crypto space will continue to grow.
“Looking at Google and Amazon, they offer blockchain as a service. All of these companies will do that, and so will service providers such as lawyers and accountants,” Pompliano said. I am saying. “The ultimate result is the explosive growth of work in space. Some are new companies and others are large existing businesses that turn on products like Square. Some will be completely pivoting companies. “
For the past few weeks Number of layoffs Across many industries, including cryptography. To give a few examples Gemini, Crypto.com When Coinbase Added concern for those who have fired staff and are trying to enter (or stay) in the crypto economy.
Although the current crypto market is volatile, Pompliano emphasized that there is also a boom and bust cycle at the forefront of adoption.
“Just as investors get excited about the boom cycle and not at the moment of bust,” Pumpriano said. “Some companies employ hundreds of people a year, while others are layoffs.”
