Icebreaker, an open-source professional network founded by Coinbase and Google alumni Dan Stone and Jack Dillé, has successfully raised $5 million in seed funding, bringing the company’s valuation to $21 million. This latest investment will enable the six-member team to expand and develop a blockchain-based alternative to LinkedIn. The funding round was led by Coinfund, with contributions from Accomplice, Anagram, and Legion Capital.

Icebreaker aims to become the “world’s first open professional network,” offering a unique contrast to LinkedIn’s centralized control over digital identities. By leveraging blockchain technology, the platform seeks to unify users’ professional profiles and networks into a single channel. This approach allows for instant credential verification and secure endorsements.

CoinFund CEO Alex Felix emphasized the potential of crypto in developing foundational social graphs for various applications. He expressed support for Icebreaker’s mission to provide true ownership of professional identities online. The founders aim to create an “open graph of reputation and identity,” fostering shared context and trust among users.

Addressing the issue of AI-driven noise and fake personas in digital networking, Dillé humorously listed himself as “CEO of Google” on his LinkedIn profile to highlight the ease of misinformation on traditional web2 platforms. This can mislead job seekers and recruiters.

“Icebreaker aspires to provide a decentralized solution to the challenges faced by traditional professional networks, ensuring secure and verifiable professional identities.”

Icebreaker has previously tested early versions of its platform in collaboration with web3 companies such as Coinbase, Opensea, and Polygon Labs. Interestingly, Coinbase CEO Brian Armstrong had earlier floated the idea of developing a decentralized LinkedIn.

Last month, Bondex, another contender in the web3 space against LinkedIn, disclosed a fundraising of over $10 million. Bondex aims to be a more interactive and engaging professional networking platform. It leverages its native BDXN token to facilitate various functionalities, positioning itself as a hub for job seekers, recruiters, and businesses.

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