Handshake AI Business Hit $100M ARR in 8 months

Handshake, the early-career networking and recruitment platform, has accelerated a pivot toward AI . And claims its AI business hit an $100 million annualized run rate (ARR) within just eight months after a “refounding” focused on its AI business unit. 

Before this shift, the core Handshake marketplace connected 20 million students and professionals with employers across over 1,600 universities, and boasted partnerships with “100% of the Fortune 100” in recruiting outreach. 

Handshake’s core product historically has been a marketplace that bridges students and alumni with companies and universities, streamlining recruiting, job matching, internship placement, and employer engagement.

Its new AI business seeks to leverage the platform’s massive dataset of early-career users and academic talent to provide “human data” services to AI labs, plus AI agents for job seekers and recruiters. The strategy aims to transform Handshake from a three-sided marketplace into a data/agent infrastructure business that powers AI model training and hiring assistance. 

Prior to the pivot, Handshake had raised substantial capital and been valued at $3.5 billion after a Series F round. 

The company recently laid off ~15% of its workforce (~100 employees) to refocus resources on the AI-driven direction and is projecting that its AI business will eclipse its recruiting core by year’s end.  Combined ARR (core + AI) is forecast to double to $300M by year’s end, and reach “high hundreds of millions” in the following year.