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Just two months after launching Braintrust AIR, our fully autonomous AI recruiter, we are seeing incredible traction in the market. We’ve sold multiple subscription deals, we have five large enterprise customers piloting the tool (and already seeing strong ROI), with another nearly 50+ enterprise deals (~$5.3M in potential revenue) in the pipeline.
Braintrust AIR is quickly finding product-market fit by solving several critical problems for both SMB and enterprise clients:
- Sifting through tens of thousands of job applicants → prevents overlooking great candidates, AIR saves tons of time and money on recruiting.
- Scheduling hundreds of interviews (no shows, etc) → with AIR, talent complete interviews in < 24 hours with NO scheduling (on demand)
- Conducting hundreds of first-screen interviews in a fair and unbiased manner → AIR yields higher quality hires in 2 days instead of 5 weeks.
Braintrust AIR has several unique competitive advantages in what is a VERY crowded AI recruiting space:
- Four years and 100s of thousands of recorded interviews from our marketplace allowing us to train our AI to be highly accurate and far superior to others who are starting from scratch.
- An Enterprise logo base with 100s of the Fortune 1000 as existing clients (easier to sell with existing MSAs), many of which are excited to build the product with us so we can achieve product-market fit faster and accelerate our deal cycles.
- An experienced Enterprise sales team who is used to navigating large complex businesses and selling enterprise deals.
The Braintrust Marketplace business grew quickly during ZIRP and has always had strong fundamentals, but has been extremely cyclical and basically flat for 3 years. This is why we developed Braintrust AIR, a non-cyclical, higher-margin product that is literally creating a new category of HR solutions for businesses.
Like my early days running Doctor On Demand, it’s clear to me that we’re in a “land grab” scenario in this market. I knew in 2014 that everyone would eventually have access to high quality medical care via video, so we had to get as many enterprises and insurance carriers signed on as quickly as possible. That same moment is now playing out in AI-powered HR solutions.
We have an incredible pipeline of enterprise businesses (staffing firms, Fortune 1000’s, healthcare facilities, etc), mostly thanks to warm introductions from existing clients as well as our vast investor community.
Moving forward, we’re focusing 80% of the company’s time, money, and resources on Braintrust AIR. The jobs marketplace will continue to grow organically and profitably, and that business will fund our bigger ambitions with Braintrust AIR, and other bets in the AI space in general.
Importantly, just as with the core marketplace business, a portion of profits will continue to be sent through the BTRST Fee Converter system, which purchases BTRST in the open market and sends them to our on-chain treasury (DAO) for further network development.
And now, on to our business updates:
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Product: Braintrust AIR has been live and quite active in the core tech jobs marketplace, saving clients hundreds of hours and placing higher quality candidates, faster.
We’re now focused on delivering the AIR experience through all major applicant tracking systems (ATS) as well as offering a standalone version that can be used in any enterprise environment, trained on any role, without burdensome IT integration.
AIR is also benefiting from a strong network effect here: the more AIR is used, the better it works for our clients. Talent have also received it quite well, often citing how much more relaxed they are interviewing with an AI Agent, as well as appreciating that they got an interview at all, as opposed to the typical no-response from most companies.
Sales: Our team is incredibly fired up about selling Braintrust AIR and have described the in market reception as unlike anything they have ever sold. Many HR/TA organizations are under immense C-level pressure to be more cost efficient and Braintrust AIR provides a very clear ROI. We are seeing 80%+ of all initial conversations turning into real pipeline opportunities. We have yet to see the final close rates & deal sizes, but are anticipating them to be orders of magnitude greater than the marketplace. Our focus is on delivering results to our existing customers, telling those stories, rinse and repeat.
Marketing: I appeared on the SHRM AI+HI podcast talking all about the Future of Recruiting with AI. Braintrust also received 4 “badges” from G2, most notably #1 Job Board, along with "leader" badges in the categories of Candidate Relationship Management and Freelance Platforms.
Talent: We’re up to 1.25M Community Members and growing at a rate of ~ 60K sign ups per month. Our expansion to All Roles (not just tech) with Braintrust AIR has led to more diverse roles (and fills!) on the marketplace side as well – from Chem/Bio/Physics PHD candidates to Voice Actors, and everything in between.
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
