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SpringRole, a Blockchain Network Closes $1.3 Million Private Funding Round

Tuesday, 15 May 2018, 20:05 IST
By SiliconIndia

SpringRole, a blockchain professional network closes a $1.3 million private placement with major investments from AlphaBlock Investments, DNA (Brock Pierce and Scott Walker’s blockchain investment and consulting firm), Isaac Lee’s BlockWater and Wavemaker Genesis. The company also announced 15th May for the public pre-sale of SPRING, an ERC-20 compliant token to be launched in end of June that verifies career information like educational attainment, work history and skills endorsements.

Scott Walker, Co-Founder, DNA & early SpringRole backer, says, “SpringRole is taking an important and risk-managed approach to solving a massive problem in the HR industry globally. By focusing on India, where they have already had success—and where the problem is particularly acute—SpringRole has an excellent opportunity to capture market share quickly and build a set of blockchain and API standards that can open them to additional opportunities as they grow.”

Well known for solving challenges of hiring technical professionals, especially in countries like India, for outsourcing and global services arrangements by using blockchain technology, SpringRole executes an aggressive product roadmap, targeting a general availability rollout over the course of this summer. Aiming to penetrate the Indian market for technical professionals, makes SpringRole a valuable asset to US and European companies which are setting up in India.

Karthik Mandavile, Founder & CEO, SpringRole, says, “What we’re building is solving an all-too-real problem faced by every offshore company hiring in India, whether in support of in-house technical services or as part of an outsourcing transaction. Opening our beta to U.S. users is a key next step in bringing our industrial application of blockchain to a global market”.

A science Blockchain portfolio company, SpringRole was founded and led by Kartik. SpringRole is currently working on a network powered by artificial intelligence and blockchain technology to eliminate fraud from user profiles. It also builds features like directory listing, search, job board, work attestation and reputation scoring on SpringRole platform. They’ve also launched a referral program which enables beta users to invite their network onto the platform in exchange for SPRING tokens.

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