-40%

est. 2Y upside i

DevOps & InfraSeries B

Braintrust is the enterprise-grade stack for building AI products. From evaluations, to prompt playground, to data management, we take uncertainty and tedium out of incorporating AI into your business.

Rank

#3121

Sector

Developer Tools

Est. Liquidity

~4Y

Data Quality

Data: Low

Given the recent security breach, critical incumbent threat, and lack of revenue visibility, the expected equity upside over 2 years is significantly negative (-40% probability-weighted).

Last updated: July 3, 2026

Bull (10%)+140%

Braintrust overcomes security breach and becomes category leader in AI evaluation. Revenue grows to $100M+ and exit at 3x current valuation ($2.4B), yielding 140% upside after 20% dilution.

Base (45%)-20%

Company maintains current valuation but dilutes 20% from future funding, resulting in a -20% return for common stockholders. Revenue growth is moderate and competitive pressures persist.

Bear (45%)-100%

Security breach damages customer trust, revenue fails to grow, and exit below liquidation preference ($121.1M) leaves common stock worthless, resulting in -100% return.

Est. time to liquidity~4.0 years

Preference Stack Risk

high

Funding Intensity

1510%

Total preferred liquidation preference of $121.1M represents 15.1% of the $800M valuation, creating a high overhang in downside scenarios.

Dilution Risk

high

Series B round closed 4 months ago; further dilution expected within 24 months given moderate capital intensity.

Secondary Liquidity

none

No secondary market activity reported.

Engineering — 10 roles

People — 5 roles

Marketing — 3 roles

Operations — 3 roles

Customer Experience — 1 role

View all 44 open roles at Braintrust →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Braintrust's data — designed to show you've done your homework.

  • 1

    “How does Braintrust's security architecture prevent breaches like the one in May 2026?”

  • 2

    “With Big Tech building native AI observability, how does Braintrust plan to differentiate?”

  • 3

    “What is the expected timeline for revenue growth and profitability, given recent funding?”

Community

Valuation Sentiment

Our model estimates -40% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.