Chrono.Tech is turning many heads by its venture into disrupting the HR and recruitment industry. The team aims to leverage blockchain technology to streamline the many day-to-day processes in this segment. That vision has attracted over $30 million in funding, according to today’s press release.
Chrono.Tech Spans Many Solutions
Blockchain technology can, in theory, disrupt and streamline many businesses, processes, and operations. Making an impact on the HR and recruitment strategy is one possibility, although it hasn’t been explored in-depth yet.Chrono.Tech aims to change that narrative, as the Australian blockchain software firm sees big opportunities revolving around peer-to-peer interactions.
The team at Chrono.Tech has built multiple tools that have gained broad traction since its inception. LaborX is the primary product and serves as a smart contract-based freelancing platform anyone in the world can access. Through LaborX, users can list jobs, apply for tasks, and collect payments for their work in cryptocurrency. Since its launch, the platform saw over 42,000 freelancers join the ranks and nearly 5,0000 customers.
The other product under Chrono.Tech banner is TimeX, a secure digital asset exchange. It is currently ranked in the crypto exchanges’ top 100 by trading volume, confirming people are eager to use this platform. In addition, the Chrono.Tech team is exploring ventures in decentralized gaming, promoting the Crypto Gaming United, and leveraging the Play-to-earn model.
Tackling A New Frontier With Serious Backing
The foray into HR and recruitment is remarkable, but investors seem to agree with it. Chrono.Tech secured over $30 million in funding to develop and expand its HR-focused solutions. Industries with lots of administrative work will need to be modernized one way or another, and blockchain technology may play a vital role in these proceedings. The funding round was led by a leading European Family Office and renowned Australian VC, Mark Carnegie.
It is not the first time Mark Carnegie and Chrono.Tech join forces. More specifically, the founder of this company, Sergei Sergienko, is a co-founder of Crypto Gaming United – together with Carnegie – and they set up two digital asset managed investment funds.
Speaking on the funding round, Chrono.Tech founder and CEO Sergei Sergienko states:
“Given that Mark Carnegie is both a well-respected and successful asset manager and venture capitalist, and someone who has recognized the potential of blockchain technology, it’s very encouraging that he has given Chrono.Tech his vote of confidence through his investment in the company. Along with the European investment, it’s validation from the mainstream financial world of the work we’ve been doing for the past five years and a strong signal that we’re on the right track for further growth in the months and years to come.”
The funding route paves the way for Chrono.Tech to scale and develop its product suite for crypto payroll and human resource purposes. Moreover, there is a plan to expand into workforce management, creating a complete package. The team will develop new modules and extensions and launch them in the coming months to let all users access the full range of services. Additionally, platform interactions will become safer and easier, further increasing the appeal of Chrono.Tech’s solutions.