Total amount raised
$123.5 Millions
Latest funding date
Location
Braintrust has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform leverages blockchain technology to connect skilled tech experts with clients, offering a unique marketplace experience.
Keep reading to explore the intricacies of Braintrust's fundraising journey and the investors backing this innovative platform.
What Is Braintrust?
Braintrust, founded on May 22, 2018, is a blockchain-powered freelancer marketplace based in San Francisco, California. The company connects skilled tech experts with clients, aiming to disrupt traditional hiring methods by aligning incentives and redistributing value to talent and organizations.
Founded by Adam Jackson, Brian Flynn, Gabriel Luna-Ostaseski, Meg Epstein, and Shirley Yang, Braintrust offers a user-controlled talent network that provides enterprises with highly skilled technical and design talent. The platform charges a flat 10 percent project fee, allowing talent to keep 100 percent of their revenue.
With a team of 11-50 employees, Braintrust leverages AI technology to transform the hiring process, offering significant savings by removing middlemen and connecting organizations directly to top tech talent.
How Much Funding Has Braintrust Raised?
- Seed Round
- Amount Raised: $5M
- Date: December 2018
- Lead Investors: True Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial technology.
- Seed Round
- Amount Raised: Not disclosed
- Date: June 2019
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue platform development and early-stage growth.
- Seed Round
- Amount Raised: $500K
- Date: September 2020
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance platform features.
- Venture Round
- Amount Raised: $18M
- Date: October 2020
- Lead Investors: ACME Capital, Blockchange Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Funding Round
- Amount Raised: $100M
- Date: December 2021
- Lead Investors: Coatue
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow the network and fund community projects.
Total Amount Raised: $123.5M. Current Valuation: Not publicly disclosed.
Key Investors
- True Ventures
- Details: True Ventures is a venture capital firm that invests in early-stage technology startups. They are known for their hands-on approach and support for founders.
- Investment Focus Areas: Early-stage technology startups, consumer products, enterprise software.
- Notable Investments: Peloton, Fitbit, Blue Bottle Coffee.
- Blockchange Ventures
- Details: Blockchange Ventures is a venture capital firm focused on blockchain technology investments. They aim to support the growth of the decentralized web.
- Investment Focus Areas: Blockchain technology, cryptocurrency, decentralized applications.
- Notable Investments: BlockFi, CoinList, Messari.
- Coatue
- Details: Coatue Management is a global investment firm that focuses on technology, media, and telecommunications. They manage both public and private equity funds.
- Investment Focus Areas: Technology, media, telecommunications, consumer sectors.
- Notable Investments: Snap Inc., DoorDash, ByteDance (TikTok).
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that focuses on private and public companies in the global Internet, software, consumer, and financial technology industries. They manage hedge funds and private equity funds.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- HashKey
- Details: HashKey is an investment firm that focuses on blockchain and digital asset ecosystems. They aim to support the growth and development of the blockchain industry.
- Investment Focus Areas: Blockchain, digital assets, decentralized finance.
- Notable Investments: Animoca Brands, Polkadot, BlockFi.
What's Next for Braintrust?
Braintrust stands at the cusp of significant growth, driven by the rising interest in Web3 technologies. With a recent $100 million raised through private token sales, the platform is poised to expand its user base and client companies, leveraging its unique nonprofit, co-op model to attract more users and differentiate from competitors.
Future fundraising opportunities seem promising as the platform continues to grow, potentially attracting more venture capitalists interested in Web3 projects. However, Braintrust may face challenges such as competition from established gig marketplaces and regulatory hurdles related to crypto tokens. Ensuring the security and reliability of their blockchain technology will be crucial as they scale.
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