Blockchain-enabled online reputation network SpringRole raises $1.3 Mn

Blockchain professional network SpringRole has raised $1.3 million in private funding round.

The Bengaluru-based online reputation network powered by an artificial intelligence has also set for the public pre-sale of SPRING on May 15, while Public sales of the SPRING token are scheduled to launch at the end of June.

SpringRole is the first portfolio company from Science Blockchain, the blockchain-focused incubator from Science Inc, a crowdsource recruiting network powered by referrals.

Founded by Kartik Mandaville, SpringRole is building the first professional reputation network powered to eliminate fraud from user profiles. The startup is building features like directory listing, search, job board, work attestation and reputation scoring on the SpringRole platform.

It has launched a referral program which enables beta users to invite their network onto the platform in exchange for SPRING tokens, reveals company's press statement.

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Besides, it 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.

SpringRole aims to penetrate the Indian market for technical professionals, which will make it a valuable asset to U.S. and European companies that are setting up offshore capabilities in India.

The startup is also opening its beta to US users to spread its industrial application of blockchain to a global market.

Textio, Rampup, and HiringSolved all from the US are considered as the competitors of SpringRole.

SpringRole early backers include AlphaBlock Investments, DNA (Brock Pierce and Scott Walker’s blockchain investment and consulting firm), Isaac Lee’s BlockWater and Wavemaker Genesis.