Intch, a networking app that connects top-level professionals, secured funds for expansion. The startup aims to disrupt the future of work with its proprietary AI-based user-matching algorithms.
The company raised $1.2 million in a round led by AltaIR Capital, which has over $600 million in investments in tech startups.
Intch currently connects more than 100K users from 130 countries — over 60% are C-level executives. The app matches top-tier professionals looking for remote project-based work, investment for their new ventures, or specific expertise.
By helping users to go beyond their existing social circle, Inch helps to grow one’s network by exchanging professional favors, such as warm introductions or mentorship. Intch’s AI algorithm matches relevant users around the world by background, location, personal connections, and other data they provide.
The app was launched by serial entrepreneur Yakov Filippenko. His previous startup, SailPlay, develops marketing automation software to help online and brick-and-mortar retailers build loyalty programs. This year, the company was acquired by Retail Rocket, a retention management platform for brands.
“The professional networking market hasn’t been disrupted since LinkedIn,” Filippenko said. “Existing networking solutions don’t fit the expectations of young professionals, such as millennials and Gen Zers. They prefer flexibility and independence, value skills over work titles, and don’t want to waste time on inefficient networking. I believe they will appreciate that Intch’s AI takes the stress off the first contact, allowing them to save energy for the actual collaboration.”
Post-Covid, the Great Resignation has been a major issue in the U.S. for businesses. As inflation pressures accelerate, top-tier professionals are looking to get back to work. But, due to the lack of remote options in the workplace, many prefer project gigs in addition to or instead of full-time employment.
Intch is a networking platform where users can post pitches instead of their resumes, and receive appropriate offers from AI. The app also helps with creating a professional biography, provides pre-designed templates for requests, and an easy-to-use framework for introductions.
Over half of Americans are considering second jobs, while the number of white-collar workers looking for side projects has tripled in 2022. Intch provides executives with trustworthy referrals from their close network, which allows them to hire top-level professionals unavailable on freelance marketplaces.
“Since the pandemic, we at Altair Capital have seen significant changes in how people work,” said Igor Ryabenkiy, the CEO and Managing Partner of AltaIR Capital. “It’s clear that the trend towards remote work is here to stay. We see it in the success of our portfolio companies, such as Deel and Miro. The future of work requires changes in business networking — setting up new ways for people to find professional collaborations, build new connections and make introductions. We believe that Intch will disrupt this market through the unique combination of people-driven community and AI tools.”
According to IBIS World Research, the digital social networking industry in the U.S. will be worth $72.2 billion in 2022. On average, the market grew 20% annually between 2017 and 2022.
