SpringRole, an Indian blockchain professional network, closed a $1.3m funding round.
Backers included AlphaBlock Investments, DNA (Brock Pierce and Scott Walker’s blockchain venture capital and consulting firm), Isaac Lee’s BlockWater and Wavemaker Genesis.
Led by Kartik Mandaville, founder and CEO, SpringRole is building a professional reputation network powered by artificial intelligence and blockchain technology to eliminate fraud from user profiles. The network aims to give weight to online professional reputation and enable people to be rewarded for their endorsements.
The company, which is building features like directory listing, search, job board, work attestation and reputation scoring on the platform, has launched a referral program which enables beta users to invite their network in exchange for SPRING tokens.
SpringRole also recently announced product partnerships with WorkCoin, a blockchain-based platform for freelancers with a focus on transparency, and Bloom, a blockchain-based credit scoring platform. In February, Rick Marini, managing partner at Protocol Ventures, and Alex Waters, co-founder of ELM Labs, joined as advisors.
The company’s goal is initially to penetrate the Indian market for technical professionals, which will make it a meaningful asset to U.S. and European companies that are setting up offshore capabilities in India.