Web3 job platform Braintrust raises $100 million in private token sale

Braintrust, a Web3 talent network, has raised $100 million in a private token sale led by Coatue, according to an announcement on Thursday.

Tiger Global and True Ventures as well as previous Braintrust backers like Blockchain Ventures and HashKey also took part in the private token sale.

Braintrust aims to connect companies with skilled workers in the Web3 space. The company claims to have over 700,000 community members.

According to Thursday’s announcement, Braintrust will use the proceeds of the private token sale to grow its network and provide funding for community projects via grants. The company said that all 700,000-plus members are eligible to apply for grants on projects geared towards improving the network.

Launched in June 2020, Braintrust’s gross service volume has grown by 2,250% to reach $28.2 million in the last 18 months, according to data from the company’s website dashboard.

Other figures from the dashboard also show significant growth for the company as the number of its enterprise clients has increased eight-fold from 63 to 474 during the same period, with over 36,000 job-seekers on the platform.

In October 2020, Braintrust secured $18 million in a funding round led by ACME and Blockchange.

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