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Jun 1, 2022 · 19m · top-founders

3 co-founders own 33% each of new recruiting marketplace and SaaS tool

Bram Medina · 9m spoken Nathan Latka · 7m spoken
0:00 / 0:00

gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

Nathan Latka interviews Higherport CEO Bram Medina, exploring how the company transitioned from a traditional recruitment agency into a scalable recruiter marketplace and SaaS platform while preparing for a €2 million European expansion.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 43.7% of the talking time here. How this is scored →

Nathan as informed peer 6.5 Guest teaching 2.2 Guest disagreement 1.8 Nathan pushing back 5.0
05100:0010:001:04–3:57 · Nathan as informed peer 7/10 Higherport Business Model and Placement Economics Nathan digs into the revenue mechanics, pressing Bram on the SaaS vs. placement fee split and clarifying the take-rate math (80% to recruiters, ~4k take rate per placement). Bram readily explains the unit economics without conflict.4:00–7:33 · Nathan as informed peer 6/10 Transition from Traditional Agency to Scalable Platform Nathan inquires why Bram shut down a multi-million-euro agency instead of selling it. Bram explains that carrying the clients over solved their cold start problem for the new platform.7:36–10:26 · Nathan as informed peer 8/10 Current Traction, Monthly Revenue, and ATS SaaS Integrations Nathan directly pushes back when Bram presents projected forward revenue multiplied by 12 as ARR, forcing Bram to state the hard past month revenue ($16k) and actual placement numbers.10:28–13:44 · Nathan as informed peer 7/10 Marketplace Supply and Demand Metrics Nathan interrogates the platform metrics, defining recruiter activity and pointing out power law dynamics. When Bram touts 30-50% QoQ growth, Nathan pushes back on percentage games at tiny base numbers.13:45–17:09 · Nathan as informed peer 7/10 Co-Founder Equity, Funding History, and €2M Raise Plans Nathan calculates past round valuation caps and equity dilution on the fly and asks Bram for targeted valuation numbers on his upcoming 2M euro raise.17:10–18:26 · Nathan as informed peer 4/10 The Famous Five Rapid-Fire Questions Nathan runs through his standard rapid-fire Famous Five format with quick, collaborative responses from Bram.1:04–3:57 · Guest teaching 3/10 Higherport Business Model and Placement Economics Nathan digs into the revenue mechanics, pressing Bram on the SaaS vs. placement fee split and clarifying the take-rate math (80% to recruiters, ~4k take rate per placement). Bram readily explains the unit economics without conflict.4:00–7:33 · Guest teaching 2/10 Transition from Traditional Agency to Scalable Platform Nathan inquires why Bram shut down a multi-million-euro agency instead of selling it. Bram explains that carrying the clients over solved their cold start problem for the new platform.7:36–10:26 · Guest teaching 2/10 Current Traction, Monthly Revenue, and ATS SaaS Integrations Nathan directly pushes back when Bram presents projected forward revenue multiplied by 12 as ARR, forcing Bram to state the hard past month revenue ($16k) and actual placement numbers.10:28–13:44 · Guest teaching 3/10 Marketplace Supply and Demand Metrics Nathan interrogates the platform metrics, defining recruiter activity and pointing out power law dynamics. When Bram touts 30-50% QoQ growth, Nathan pushes back on percentage games at tiny base numbers.13:45–17:09 · Guest teaching 2/10 Co-Founder Equity, Funding History, and €2M Raise Plans Nathan calculates past round valuation caps and equity dilution on the fly and asks Bram for targeted valuation numbers on his upcoming 2M euro raise.17:10–18:26 · Guest teaching 1/10 The Famous Five Rapid-Fire Questions Nathan runs through his standard rapid-fire Famous Five format with quick, collaborative responses from Bram.1:04–3:57 · Guest disagreement 1/10 Higherport Business Model and Placement Economics Nathan digs into the revenue mechanics, pressing Bram on the SaaS vs. placement fee split and clarifying the take-rate math (80% to recruiters, ~4k take rate per placement). Bram readily explains the unit economics without conflict.4:00–7:33 · Guest disagreement 2/10 Transition from Traditional Agency to Scalable Platform Nathan inquires why Bram shut down a multi-million-euro agency instead of selling it. Bram explains that carrying the clients over solved their cold start problem for the new platform.7:36–10:26 · Guest disagreement 2/10 Current Traction, Monthly Revenue, and ATS SaaS Integrations Nathan directly pushes back when Bram presents projected forward revenue multiplied by 12 as ARR, forcing Bram to state the hard past month revenue ($16k) and actual placement numbers.10:28–13:44 · Guest disagreement 3/10 Marketplace Supply and Demand Metrics Nathan interrogates the platform metrics, defining recruiter activity and pointing out power law dynamics. When Bram touts 30-50% QoQ growth, Nathan pushes back on percentage games at tiny base numbers.13:45–17:09 · Guest disagreement 2/10 Co-Founder Equity, Funding History, and €2M Raise Plans Nathan calculates past round valuation caps and equity dilution on the fly and asks Bram for targeted valuation numbers on his upcoming 2M euro raise.17:10–18:26 · Guest disagreement 1/10 The Famous Five Rapid-Fire Questions Nathan runs through his standard rapid-fire Famous Five format with quick, collaborative responses from Bram.1:04–3:57 · Nathan pushing back 4/10 Higherport Business Model and Placement Economics Nathan digs into the revenue mechanics, pressing Bram on the SaaS vs. placement fee split and clarifying the take-rate math (80% to recruiters, ~4k take rate per placement). Bram readily explains the unit economics without conflict.4:00–7:33 · Nathan pushing back 5/10 Transition from Traditional Agency to Scalable Platform Nathan inquires why Bram shut down a multi-million-euro agency instead of selling it. Bram explains that carrying the clients over solved their cold start problem for the new platform.7:36–10:26 · Nathan pushing back 8/10 Current Traction, Monthly Revenue, and ATS SaaS Integrations Nathan directly pushes back when Bram presents projected forward revenue multiplied by 12 as ARR, forcing Bram to state the hard past month revenue ($16k) and actual placement numbers.10:28–13:44 · Nathan pushing back 7/10 Marketplace Supply and Demand Metrics Nathan interrogates the platform metrics, defining recruiter activity and pointing out power law dynamics. When Bram touts 30-50% QoQ growth, Nathan pushes back on percentage games at tiny base numbers.13:45–17:09 · Nathan pushing back 5/10 Co-Founder Equity, Funding History, and €2M Raise Plans Nathan calculates past round valuation caps and equity dilution on the fly and asks Bram for targeted valuation numbers on his upcoming 2M euro raise.17:10–18:26 · Nathan pushing back 1/10 The Famous Five Rapid-Fire Questions Nathan runs through his standard rapid-fire Famous Five format with quick, collaborative responses from Bram.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 47.6% · guest 52.4%0:00 · Nathan 47.6% · guest 52.4%3:00 · Nathan 29.7% · guest 70.3%3:00 · Nathan 29.7% · guest 70.3%6:00 · Nathan 51.2% · guest 48.8%6:00 · Nathan 51.2% · guest 48.8%9:00 · Nathan 48.3% · guest 51.7%9:00 · Nathan 48.3% · guest 51.7%12:00 · Nathan 33.5% · guest 66.5%12:00 · Nathan 33.5% · guest 66.5%15:00 · Nathan 40% · guest 60%15:00 · Nathan 40% · guest 60%18:00 · Nathan 73.4% · guest 26.6%18:00 · Nathan 73.4% · guest 26.6%
Sharpest disagreement ▶ 13:05 Defending early growth rates

Bram defends their early traction by emphasizing 30-50% quarter-on-quarter growth to project future scale despite low absolute placement numbers.

 Hardest push from Nathan ▶ 8:03 Pushback on projected ARR calculation

Nathan refuses Bram's forward projection framing for ARR, pointing out that multiplying estimated future revenue by 12 is based on huge assumptions and demanding actual historical revenue.

 Biggest teaching moment ▶ 7:04 Explaining the cold-start value of agency clients

Bram explains why shutting down and rolling existing client relationships into the marketplace was strategically more valuable than selling the agency.

 Nathan holds their own ▶ 13:24 Dissecting percentage growth on small numbers

Nathan calls Bram out using Bram's own VC background, noting that 100% growth from 1 to 2 placements is a classic vanity metric in pitch decks.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Higherport Business Model and Placement Economics 7314 Nathan digs into the revenue mechanics, pressing Bram on the SaaS vs. placement fee split and clarifying the take-rate math (80% to recruiters, ~4k take rate per placement). Bram readily explains the unit economics without conflict.
Transition from Traditional Agency to Scalable Platform 6225 Nathan inquires why Bram shut down a multi-million-euro agency instead of selling it. Bram explains that carrying the clients over solved their cold start problem for the new platform.
Current Traction, Monthly Revenue, and ATS SaaS Integrations 8228 Nathan directly pushes back when Bram presents projected forward revenue multiplied by 12 as ARR, forcing Bram to state the hard past month revenue ($16k) and actual placement numbers.
Marketplace Supply and Demand Metrics 7337 Nathan interrogates the platform metrics, defining recruiter activity and pointing out power law dynamics. When Bram touts 30-50% QoQ growth, Nathan pushes back on percentage games at tiny base numbers.
Co-Founder Equity, Funding History, and €2M Raise Plans 7225 Nathan calculates past round valuation caps and equity dilution on the fly and asks Bram for targeted valuation numbers on his upcoming 2M euro raise.
The Famous Five Rapid-Fire Questions 4111 Nathan runs through his standard rapid-fire Famous Five format with quick, collaborative responses from Bram.

Statements from this episode (13)

Disclosure
Medina: SaaS generates roughly 10% of Higherport's revenue
“Currently it's a small percentage from SaaS. It's about 10%.”
Bram Medina Jun 1, 2022 ▶ 2:23
Disclosure
Medina: Recruiters receive over 80% of Higherport placement fees
“Over 80%.”
Bram Medina Jun 1, 2022 ▶ 3:25
Insight
Medina: Traditional agencies cannot rapidly scale hiring without recruiter marketplace bundling
“The amount of people on your payroll just limits how scalable your solution is. And most companies would call us and say, listen, I need a team of 10 engineers and I need them within two months. That is not something that any agency can easily, easily can do. …”
Bram Medina Jun 1, 2022 ▶ 5:03
Assertion Not checkable as stated
Higherport generated €16,000 in gross revenue last month
“Let's see last month was a 16 K. Okay.”
Bram Medina Jun 1, 2022 ▶ 8:27
Assertion Not checkable as stated
Higherport completed four candidate placements last month with minimal SaaS revenue
“Yeah, no, this is a four placements and going up and the SAS part is really, really small at this point in time.”
Bram Medina Jun 1, 2022 ▶ 8:43
Opinion
Medina: Higherport can 10x to 15x revenue with current infrastructure
“With the current infrastructure and team that we have, we can do 10 times, 15 times the revenue that we do right now.”
Bram Medina Jun 1, 2022 ▶ 10:49
Assertion Not checkable as stated
Medina: Over 60% of Higherport's 104 recruiters are active weekly
“So right now, let's say amount of recruiters that are Active from those 104 is over 60%. And the amount of recruiters proposing is around 30%. And that is already with the size that we are today, which is relatively small as 30 companies that are on the platfo…”
Bram Medina Jun 1, 2022 ▶ 11:59
Assertion Not checkable as stated
Medina: Higherport has placed close to 20 candidates since launch
“I think it would be. Close to 20.”
Bram Medina Jun 1, 2022 ▶ 12:59
Assertion Not checkable as stated
Medina: Higherport is growing 30% to 50% quarter-over-quarter
“So if you look at our growth right now, it's between 30, 50% quarter and quarter.”
Bram Medina Jun 1, 2022 ▶ 13:14
Disclosure
Higherport plans European expansion in 2023 backed by new funding
“And then, 2023, we will go abroad to Europe. I'm also preparing a funding round in the next months to make that possible.”
Bram Medina Jun 1, 2022 ▶ 14:35
Assertion Supported
Higherport raised $500K from angel investors and a venture fund
“Then we brought on a number of investors and formals and also a venture capital fund that were raised half a million dollars.”
Bram Medina Jun 1, 2022 ▶ 14:53
Disclosure
Higherport is targeting a €2M funding round
“We are going to raise the two million euros.”
Bram Medina Jun 1, 2022 ▶ 16:32
Insight
Medina: VC portfolio access matters more than fundraising valuation
“I think the most important factor is to get VCs on board that open doors that have a portfolio of companies that we can plug the solution in. I think all those factors are much more important than only the valuation.”
Bram Medina Jun 1, 2022 ▶ 16:42
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