Longtime Bitcoin bull Anthony Pompliano launches crypto recruitment firm Inflection Points with a $12.6 million raise

Over the past 18 months, Inflection Points has been working in stealth mode to build a crypto-focused corporate employment and training company and just secured $12.6 million in funding.

The company was founded by longtime crypto entrepreneur and investor, Colton Sakamoto and Anthony Pompliano, with the goal of helping crypto companies looking for talent connect with people who want to enter space.

"Obviously, most people know me for the investment activities I've done," Pompliano said. He manages a portfolio worth over $500 million and has invested in more than 100 start-ups, including cryptocurrency exchange Coinbase and BlockFi, the cryptocurrency lending company recently acquired by FTX. .

Pompliano has also developed a substantial presence on Twitter over the years, pumping up the hype in the crypto space with bold predictions and endeavors like a national Bitcoin Pizza brand and a partnership with sneaker startup Atoms on a pair of Bitcoin branded shoes. He also drew criticism for highlighting efforts like Terra to his followers.

"In parallel, I built a big content platform. In crypto, I always asked founders of different platforms what they needed help with and they said over and over, "if you you have great talent, send them to me,” Pompliano said. that, meanwhile, my inbox was full of people wanting to get into the industry."

The company has been profitable since its inception and has raised outside funds after hitting seven-figure revenues, according to a press release.

That said, fundraising was less about money and more about finding the right investors, Pompliano noted. "You brought these people together, whether it's $10 million, $12 million or $15 million, it didn't matter as much as finding the people who can help us; those investors have been incredibly valuable. ."

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

The company has also acquired crypto recruitment agency Proof of Talent. Inflection Point has helped over 1,000 people get new jobs in the crypto industry at top companies like Coinbase, Gemini, Kraken, etc., Pompliano shared.

"[There is] a brain drain from Silicon Valley and Wall Street to this sector," Pompliano said, "It's not just an American story, it's a huge part of it- here and there is a current leadership opportunity, but there is quite a bit of participation from various markets around the world.”

Long term, Pompliano expects crypto job opportunities to continue to expand.

“If you look at Google and Amazon, they offer blockchains as a service. All of those companies will do that, as will service providers like lawyers and accountants,” Pompliano said. we will achieve is an explosive growth in employment in space. Some will be new businesses and some will be large, existing companies using products like Square. Some of these will be businesses that completely pivot."

In recent weeks, there have been a number of layoffs across many industries, including crypto. To name a few, Gemini, Crypto.com and Coinbase have laid off staff, adding to the concern of some looking to enter (or stay) in the crypto economy.

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

"Similar to how invest...