Entrepreneurs Alex Taub and Michael Schonfeld once built software tools for the social media boom. Now they’re hoping to provide the plumbing for a new one in the wild west of Web3. After launching a new venture, Upstream, upon the sale of their previous startup SocialRank in early 2020, Taub and Schonfeld have shifted Upstream’s focus more to groups using cryptocurrencies recently. This past November, they launched Upstream Collective, a product to help manage decentralized autonomous organizations, or DAOs. After finding early traction with users, they’ve now raised $12.5 million in Series A funding led by boldstart ventures to expand.

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