How Much Did Braintrust Raise? Funding & Key Investors

Braintrust has successfully raised funding over five rounds, with the latest being a Series B round. The platform connects skilled tech experts with clients through a blockchain-powered freelancer marketplace.

Keep reading to explore the intricacies of Braintrust's fundraising journey and the investors backing this innovative platform.

What Is Braintrust?

Braintrust is a blockchain-powered freelancer marketplace that connects skilled tech experts with clients. The company operates in various sectors including Blockchain, Freelance, Human Resources, Internet, Marketplace, and Web3. It is based in San Francisco, California, United States, and has an employee count ranging from 11 to 50.

Braintrust AIR, a product of Braintrust, is an AI-powered recruitment software designed to streamline the hiring process for HR teams. The software automates tasks such as scheduling and preliminary interviewing while ensuring human oversight remains in hiring decisions. It is trusted by some of the biggest names globally and offers tailored solutions for various industries.

How Much Funding Has Braintrust Raised?

1. Seed Round
   • Amount Raised: USD 5,000,000
   • Date: December 2018
   • Lead Investors: True Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To establish the initial development and launch of the Braintrust platform.
2. Seed Round
   • Amount Raised: USD 500,000
   • Date: September 2020
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further develop the platform and expand its user base.
3. Series Unknown
   • Amount Raised: USD 18,000,000
   • Date: October 2020
   • Lead Investors: ACME Capital, Blockchange Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale the platform and enhance its technological capabilities.
4. Undisclosed Round
   • Amount Raised: USD 100,000,000
   • Date: December 2021
   • Lead Investors: Coatue
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support the growth of Braintrust and expand its network.
5. Series B
   • Amount Raised: USD 4,000,000
   • Date: August 2024
   • Lead Investors: Abhigyan Borah
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further enhance the platform's features and expand its market reach.

Total amount raised: USD 127,500,000. Current valuation: Not publicly disclosed.

Key Investors

• Abhigyan Borah
  • Details: Abhigyan Borah is a lead investor in Braintrust's Series B funding round. He is known for his strategic investments in emerging tech companies.
  • Investment Focus Areas: Not publicly disclosed.
  • Notable Investments: Series B - Braintrust.
• Coatue
  • Details: Coatue is a global investment firm focused on technology, media, and telecommunications. They participated in Braintrust's $100 million private token sale.
  • Investment Focus Areas: Technology, media, telecommunications, consumer sectors.
  • Notable Investments: ByteDance (TikTok), DoorDash, Snap Inc.
• ACME Capital
  • Details: ACME Capital is a venture capital firm that invests in early-stage technology companies. They led Braintrust's $18 million funding round in October 2020.
  • Investment Focus Areas: Not publicly disclosed.
  • Notable Investments: Not publicly disclosed.
• Blockchange Ventures
  • Details: Blockchange Ventures is a venture capital firm specializing in blockchain technology investments. They co-led Braintrust's $18 million funding round in October 2020.
  • Investment Focus Areas: Not publicly disclosed.
  • Notable Investments: Not publicly disclosed.
• True Ventures
  • Details: True Ventures is a venture capital firm that invests in early-stage technology startups. They were one of the initial investors in Braintrust.
  • Investment Focus Areas: Early-stage technology startups.
  • Notable Investments: Peloton, Ring, Fitbit.

What's Next for Braintrust?

Braintrust stands at the cusp of significant opportunities, driven by its rapid growth and the increasing adoption of Web3 technologies. With a 2,250% increase in gross sales volume and a growing list of enterprise clients, the platform is well-positioned to expand its network and attract more IT professionals and companies. The $100 million raised in private token sales will further fuel this expansion, enabling Braintrust to fund community projects and enhance its platform features.

Future fundraising opportunities appear promising, with the potential for additional token sales and increased venture capital investment. The platform's unique nonprofit and co-op business model, combined with its use of crypto tokens, sets it apart from traditional gig marketplaces and appeals to a growing number of investors. However, Braintrust may face challenges such as competition from established platforms like Upwork and Fiverr, regulatory hurdles related to crypto tokens, and the need to maintain its business model while scaling.

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