Icebreaker Secures $5M Seed Funding to Build Blockchain Alternative to LinkedIn

Icebreaker, a blockchain-based professional networking platform, has raised $5 million in seed funding to challenge LinkedIn's dominance. 

Co-founded by Dan Stone and Jack Dillé, veterans from Coinbase and Google, the platform aims to create an open-source professional network that leverages blockchain technology.

Funding and Vision

The seed funding round was led by CoinFund, with participation from Accomplice, Anagram, and Legion Capital. The funding values Icebreaker at $21 million.

According to reports, the capital will be used to expand the team and further develop the platform.

“We believe that digital identity and professional connections shouldn’t be owned by a single entity,” said co-founder Dan Stone. “Our goal is to create an open, decentralized network where users have control over their own data and can easily transfer their professional profiles and networks across different platforms.”

Technology and Features

Icebreaker uses blockchain technology to allow users to consolidate their professional profiles and networks into a single, verifiable channel. 

Users can log in with their email, Farcaster, or an Ethereum wallet. The platform provides tools for users to verify their credentials and offer endorsements that are cryptographically secure.

“Imagine being able to see your entire network across LinkedIn, Twitter, Farcaster, and email in one place,” said Jack Dillé. “This would enable more effective introductions and networking by providing a complete picture of how you are connected with someone.”

The platform aims to create an "open graph of reputation and identity," challenging LinkedIn’s closed system by establishing a public ledger of shared context and trust. This approach seeks to cut through the noise of traditional social networks and highlight the most trusted and valuable connections.

Addressing Market Needs

Icebreaker’s founders are addressing a critical need in professional networking: the ability to freely navigate and leverage one's own contacts without paywalls or restrictions. 

Traditional platforms like LinkedIn often gatekeep data, requiring users to pay for premium features to access their own networks fully.

“The world runs on trust,” said Stone. “Existing networks optimize for engagement over signal, but the loudest or most followed person is rarely the best. Icebreaker lets you see who your close network trusts, so you can surface the talent and opportunities that are quiet, yet exceptional.”

LinkedIn, launched in 2003 and acquired by Microsoft in 2016, is the largest professional social network with over 1 billion members worldwide. Despite its dominance, LinkedIn's closed system and data gatekeeping have frustrated many users. Icebreaker seeks to offer a more open and accessible alternative.