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I’m thrilled to share that Braintrust AIR – the fully autonomous recruiting platform which conducts the first round interview for you – became generally available to all Braintrust clients in late August and today, over 62% of all jobs have AI interviewing enabled, with hundreds having completed the full AI interview process. This is already driving more GSV through Braintrust (more platform fees) because hires can be made far more quickly.
Perhaps one of my biggest concerns going into this was how talent would respond, however, the feedback we’re getting has totally quelled any fears. While it is often met with skepticism by applicants, nearly all of them have a positive experience:
The next set of releases are around Braintrust AIR integrating directly into enterprise ATS systems and supporting the full screening/recruiting process for non-tech roles (healthcare, retail, accounting, etc).
And now, on to our business updates:
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Product: In addition to launching the AI interviewer, we now have data that shows the AI automation we’ve introduced throughout the recruiting process is working. By the numbers:
- Since April, 49% of jobs have been posted using AI assistance.
- These jobs receive 48% more applications and are 24% more likely to be filled than those posted via manual entry or upload from existing descriptions, and they are filled 11% faster.
- We are seeing 88% of hires come from talent that is a good or great match, and if a role has 16 good applicants, it is almost guaranteed to be filled.
- Talent screens are now 100% AI-powered, giving us results in minutes rather than weeks, uncapping throughput and saving over $150K in tools and screening team contractor costs yearly.
This month we also launched the “My Talent” page, making it easier for customers to see all their talent in one place, a New Invoices page as well as job extensions, to help customers better manage their talent invoices and reporting.
Talent: The talent side of the house experienced a summer slowdown for signups (50,286; -33.6% decrease MoM) however, our application coverage threshold is at an all-time-high: 69.5% in August (vs. 64.1% in July). We launched an onboarding drip campaign to better welcome them to the platform and share all the value they can gain from it in order to improve profile and screening completion. We also launched application insights, where for 20 BTRST talent can gain actionable insights on every Braintrust job for 30 days. We are seeing good talent adoption of paid features that give talent an advantage in securing a job with 140 Boost purchases since launch, and 17 Insight transactions in the first week. You can see all of this activity on-chain (Base) with this link. However, buying BTRST remains complex, and restricts about 40% of our talent population from participating. Thus we will be adding a way to pay with USD in the coming months.
Sales: As you all well know, we are still fighting major macroeconomic headwinds, only compounded by summer months and vacations. But there are bright spots. In July, we saw the most freelancers billing, and in August, we saw the highest Existing Ent clients posting (21) since March.
Fortunately, we’re now in market with a non-cyclical SaaS product (AIR) and, as you can probably tell in the market, the AI Recruiting/HR space has caught fire. We’re taking full advantage of our years of proprietary marketplace data + large talent and client bases to maintain our lead. We have a large and fast-growing sales pipeline and are quickly moving enterprise clients into pilot across multiple verticals.
Marketing: Warm introductions from existing clients, talent and investors continues to be the highest quality source of leads (we call this our Connector Program). In addition, our large social presence has been generating significant inbound. Our focus for the month ahead is sharing talent feedback (like the screenshots I shared above) and telling customer stories that highlight the dramatic time and money savings Braintrust AIR offers.
Thank you, as always, for your support, and please don’t hesitate to reach out with any questions.
All the best,
Adam
Join Braintrust: https://app.usebraintrust.com/r/adam3/
Braintrust dashboard: https://info.braintrust.com
