Dework raises $5 Million in Seed Round, Touted to be the Linkedin of Web3

Gig hunting and networking platform, Dework just raised $5 Million in seed funding led by Web3 investment firm Paradigm and venture capital group Pace Capital.
Dework Seed Round Feature Image

The round also saw the participation of Balaji Srinivasan, a former CTO at Coinbase, and Sandeep Nailwal, co-founder of Polygon. 

Dework is a web3-native tool for acquiring, organizing and managing tasks in the form of bounties. A perfect blend of Trello and Linkedin, the platform offers a job board and task organizer rolled up together. Users can apply for gigs on job listings that entail a transparent structure on remuneration and task completion details. They can also build portfolios off of the gigs completed on the website and collect rewards. 

For DAOs (Decentralized Autonomous Organizations), the merit is in talent acquisition, community building, and sleek completion of tasks. Organizing tasks and monitoring their progress for DAOs has always been a pain point due to inadequate project management tools in the world of web3, which Dework aims to resolve.  

Paradigm believes Dework has built a decentralized solution that provides all the essential tools and talent for DAOs to fulfil their ambitions and reach greater heights. 

Fresh capital raised via the seed round will help the organization bolster its marketing efforts and grow the team from the current three core members. The company also plans to add new users to its platform and increase the number of tasks on its job board by inviting more DAOs to participate. 

Currently, Dework positions itself as the Linkedin for DAOs – where users can create a profile, just like a resume, and Dework will help connect them to projects that match their skillset. It does solve the nagging issues of hiring and project management for DAOs. Also, the model has been a proven success in web2, where several freelancing platforms have thrived. Dework’s first-mover advantage will help it successfully replicate the legacy models in the new world. 

An experienced DAO contributor and CEO, Lonis Hamaili, is excited about the future. He feels the company’s clear terms and transparent structure will make the process easier for participants and DAOs. Even though a DAO is decentralized, it needs to work on its hiring policy, talent management, and compensation structure. 

Bounties make the experience a lot more fun. If users don’t like the compensation for a particular gig, they can move on to the next one without having to waste their efforts in negotiations. The platform also enables DAOs to provide more clarity about themselves and showcase a roadmap for the future, all of which were traditionally absent in a decentralized platform. This will undoubtedly be an opportunity for DAOs to make themselves look more attractive to potential job seekers

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James Satoshi
James Satoshi
James is a leader in Web3, NFTs, & DeFi. You'll spot him covering all topics through-out Coinmash - some say he's so good he doesn't even seem real.