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Jun 16, 2016 · 20m · top-founders

EP 327: This B2B SaaS Companies Prevents Death With Wearables

Nathan Latka · 11m spoken Nathan Klarer · 6m spoken
0:00 / 0:00

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

In this episode of The Top, host Nathan Latka interviews Nathan Klarer, CEO of BridgeCrest Medical, about scaling a B2B SaaS predictive safety platform for heavy industrial enterprises. Klarer details the company's wearable fatigue-monitoring technology, $1.3 million funding, multi-year contracts with zero churn, and key partnerships with tier-one mining giants.

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 61.2% of the talking time here. How this is scored →

Nathan as informed peer 4.2 Guest teaching 2.5 Guest disagreement 0.3 Nathan pushing back 1.5
05100:0010:0020:001:29–4:23 · Nathan as informed peer 4/10 Introducing Nathan Klarer of BridgeCrest Medical Latka introduces Klarer and explores his transition from equity research to heavy industry IoT wearables. Klarer politely explains their fatigue prediction solution and Intel Basis watch validation.4:24–6:52 · Nathan as informed peer 5/10 Enterprise Sales Cycles, Pricing, and Idea Genesis Latka probes the enterprise pricing model, questioning contract lengths, sales cycles, and whether hardware is subsidized. Klarer explains their pure SaaS annual fee structure.6:52–9:28 · Nathan as informed peer 4/10 Team Composition, Equity, and $1.3 Million Funding Latka brings up Crunchbase funding data of $200k, which Klarer corrects by disclosing $1.3 million raised. They discuss team equity allocation and software development capital expenditure.9:28–12:38 · Nathan as informed peer 5/10 SaaS Retention Metrics and Land-and-Expand Strategy Latka drills into customer metrics, churn, and revenue targets. Klarer explains site-level vs. corporate sales strategy and politely punts on giving 2016 forward-looking revenue projections.12:40–16:35 · Nathan as informed peer 4/10 Key Industrial Partnerships and CEO Responsibilities Klarer outlines partnerships with mining majors like Barrick and Rio Tinto before Latka transitions into mid-roll sponsor reads.16:35–18:44 · Nathan as informed peer 3/10 The Famous Five Rapid-Fire Questions The interview wraps smoothly with the Famous Five questions covering recommended books, leadership role models, and sleep habits.1:29–4:23 · Guest teaching 3/10 Introducing Nathan Klarer of BridgeCrest Medical Latka introduces Klarer and explores his transition from equity research to heavy industry IoT wearables. Klarer politely explains their fatigue prediction solution and Intel Basis watch validation.4:24–6:52 · Guest teaching 2/10 Enterprise Sales Cycles, Pricing, and Idea Genesis Latka probes the enterprise pricing model, questioning contract lengths, sales cycles, and whether hardware is subsidized. Klarer explains their pure SaaS annual fee structure.6:52–9:28 · Guest teaching 4/10 Team Composition, Equity, and $1.3 Million Funding Latka brings up Crunchbase funding data of $200k, which Klarer corrects by disclosing $1.3 million raised. They discuss team equity allocation and software development capital expenditure.9:28–12:38 · Guest teaching 3/10 SaaS Retention Metrics and Land-and-Expand Strategy Latka drills into customer metrics, churn, and revenue targets. Klarer explains site-level vs. corporate sales strategy and politely punts on giving 2016 forward-looking revenue projections.12:40–16:35 · Guest teaching 2/10 Key Industrial Partnerships and CEO Responsibilities Klarer outlines partnerships with mining majors like Barrick and Rio Tinto before Latka transitions into mid-roll sponsor reads.16:35–18:44 · Guest teaching 1/10 The Famous Five Rapid-Fire Questions The interview wraps smoothly with the Famous Five questions covering recommended books, leadership role models, and sleep habits.1:29–4:23 · Guest disagreement 0/10 Introducing Nathan Klarer of BridgeCrest Medical Latka introduces Klarer and explores his transition from equity research to heavy industry IoT wearables. Klarer politely explains their fatigue prediction solution and Intel Basis watch validation.4:24–6:52 · Guest disagreement 0/10 Enterprise Sales Cycles, Pricing, and Idea Genesis Latka probes the enterprise pricing model, questioning contract lengths, sales cycles, and whether hardware is subsidized. Klarer explains their pure SaaS annual fee structure.6:52–9:28 · Guest disagreement 0/10 Team Composition, Equity, and $1.3 Million Funding Latka brings up Crunchbase funding data of $200k, which Klarer corrects by disclosing $1.3 million raised. They discuss team equity allocation and software development capital expenditure.9:28–12:38 · Guest disagreement 2/10 SaaS Retention Metrics and Land-and-Expand Strategy Latka drills into customer metrics, churn, and revenue targets. Klarer explains site-level vs. corporate sales strategy and politely punts on giving 2016 forward-looking revenue projections.12:40–16:35 · Guest disagreement 0/10 Key Industrial Partnerships and CEO Responsibilities Klarer outlines partnerships with mining majors like Barrick and Rio Tinto before Latka transitions into mid-roll sponsor reads.16:35–18:44 · Guest disagreement 0/10 The Famous Five Rapid-Fire Questions The interview wraps smoothly with the Famous Five questions covering recommended books, leadership role models, and sleep habits.1:29–4:23 · Nathan pushing back 1/10 Introducing Nathan Klarer of BridgeCrest Medical Latka introduces Klarer and explores his transition from equity research to heavy industry IoT wearables. Klarer politely explains their fatigue prediction solution and Intel Basis watch validation.4:24–6:52 · Nathan pushing back 2/10 Enterprise Sales Cycles, Pricing, and Idea Genesis Latka probes the enterprise pricing model, questioning contract lengths, sales cycles, and whether hardware is subsidized. Klarer explains their pure SaaS annual fee structure.6:52–9:28 · Nathan pushing back 2/10 Team Composition, Equity, and $1.3 Million Funding Latka brings up Crunchbase funding data of $200k, which Klarer corrects by disclosing $1.3 million raised. They discuss team equity allocation and software development capital expenditure.9:28–12:38 · Nathan pushing back 3/10 SaaS Retention Metrics and Land-and-Expand Strategy Latka drills into customer metrics, churn, and revenue targets. Klarer explains site-level vs. corporate sales strategy and politely punts on giving 2016 forward-looking revenue projections.12:40–16:35 · Nathan pushing back 1/10 Key Industrial Partnerships and CEO Responsibilities Klarer outlines partnerships with mining majors like Barrick and Rio Tinto before Latka transitions into mid-roll sponsor reads.16:35–18:44 · Nathan pushing back 0/10 The Famous Five Rapid-Fire Questions The interview wraps smoothly with the Famous Five questions covering recommended books, leadership role models, and sleep habits.

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

0:00 · Nathan 80.7% · guest 19.3%0:00 · Nathan 80.7% · guest 19.3%3:00 · Nathan 37.8% · guest 62.2%3:00 · Nathan 37.8% · guest 62.2%6:00 · Nathan 41.6% · guest 58.4%6:00 · Nathan 41.6% · guest 58.4%9:00 · Nathan 51.5% · guest 48.5%9:00 · Nathan 51.5% · guest 48.5%12:00 · Nathan 52.2% · guest 47.8%12:00 · Nathan 52.2% · guest 47.8%15:00 · Nathan 80.7% · guest 19.3%15:00 · Nathan 80.7% · guest 19.3%18:00 · Nathan 87.7% · guest 12.3%18:00 · Nathan 87.7% · guest 12.3%
Sharpest disagreement ▶ 12:05 Refusing forward-looking revenue guidance

Klarer explicitly declines Latka's direct question regarding their 2016 revenue goal, noting he does not have board permission to disclose future projections.

 Hardest push from Nathan ▶ 11:47 Pressing for revenue figures and ranges

Latka pushes for revenue numbers by offering broad over/under ranges when Klarer hesitates to give specific financials.

 Biggest teaching moment ▶ 8:18 Correcting Crunchbase investment data

Klarer corrects Latka's public Crunchbase estimate of $200k in total funding by revealing they have actually raised $1.3 million.

 Nathan holds their own ▶ 5:32 Analyzing enterprise systems integration and multi-year locks

Latka demonstrates SaaS domain expertise by dissecting onboarding friction, training overhead, and the necessity of multi-year contract locks for industrial deployments.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Introducing Nathan Klarer of BridgeCrest Medical 4301 Latka introduces Klarer and explores his transition from equity research to heavy industry IoT wearables. Klarer politely explains their fatigue prediction solution and Intel Basis watch validation.
Enterprise Sales Cycles, Pricing, and Idea Genesis 5202 Latka probes the enterprise pricing model, questioning contract lengths, sales cycles, and whether hardware is subsidized. Klarer explains their pure SaaS annual fee structure.
Team Composition, Equity, and $1.3 Million Funding 4402 Latka brings up Crunchbase funding data of $200k, which Klarer corrects by disclosing $1.3 million raised. They discuss team equity allocation and software development capital expenditure.
SaaS Retention Metrics and Land-and-Expand Strategy 5323 Latka drills into customer metrics, churn, and revenue targets. Klarer explains site-level vs. corporate sales strategy and politely punts on giving 2016 forward-looking revenue projections.
Key Industrial Partnerships and CEO Responsibilities 4201 Klarer outlines partnerships with mining majors like Barrick and Rio Tinto before Latka transitions into mid-roll sponsor reads.
The Famous Five Rapid-Fire Questions 3100 The interview wraps smoothly with the Famous Five questions covering recommended books, leadership role models, and sleep habits.

Statements from this episode (13)

Disclosure
BridgeCrest is a B2B SaaS wearable analytics platform for heavy industry
“We're a B to B SaaS company. And what we do is we integrate the latest wearable technology and IOT technology into an analytics platform that helps heavy industry companies. So mining companies, trucking companies, oil and gas companies prevent accidents befor…”
Nathan Klarer Jun 16, 2016 ▶ 3:03
Assertion Not checkable as stated
BridgeCrest validated the Intel Basis watch at 14,000 feet in the Andes
“We actually ran a medical validation and in that medical validation, we found that the basis worked best for our needs but we, and that was actually a study we did, and I can go into that, but we did that at 14,000 feet in the Andes Mountains”
Nathan Klarer Jun 16, 2016 ▶ 4:00
Disclosure
Klarer: BridgeCrest enterprise sales cycle averages about six months
“It's like a typical enterprise sales cycle. So like six months or so.”
Nathan Klarer Jun 16, 2016 ▶ 4:50
Disclosure
Klarer: BridgeCrest contract values range from five to six figures
“They're in the five to six figures.”
Nathan Klarer Jun 16, 2016 ▶ 5:07
Disclosure
BridgeCrest industrial clients sign multi-year contracts spanning two to four years
“What we're seeing right now is companies are actually doing that two, that three, that four year contract.”
Nathan Klarer Jun 16, 2016 ▶ 5:59
Assertion Not checkable as stated
BridgeCrest Medical employs 10 to 20 people with a solo founder
“So I'm the solo founder for this company, actually. We're about 10 to 20 people right now in that range.”
Nathan Klarer Jun 16, 2016 ▶ 6:56
Assertion Not publicly verifiable
BridgeCrest Medical raised $1.3M in funding as of early 2016
“So we've reached, we've raised the date about 1.3 million dollars. And that came mostly The beginning of last year in a round.”
Nathan Klarer Jun 16, 2016 ▶ 8:24
Assertion Not checkable as stated
BridgeCrest spends primarily on software engineering, partnering for hardware production
“Last year, most of our costs were just engineering for the analytic software because we partner for the hardware.”
Nathan Klarer Jun 16, 2016 ▶ 9:21
Assertion Not checkable as stated
Klarer: BridgeCrest has not had a single customer churn
“Our churn rate is very low. We actually have not had a customer churn yet.”
Nathan Klarer Jun 16, 2016 ▶ 9:54
Assertion Not checkable as stated
Klarer: BridgeCrest has about 10 to 20 customers
“We've got about 10 to 20 customers right now.”
Nathan Klarer Jun 16, 2016 ▶ 10:03
Insight
Selling directly to industrial sites closes faster than through corporate headquarters
“Heavy industry sales is a little bit different. You can often penetrate by going directly to a site rather than going through corporate, and that'll often give you a faster sale.”
Nathan Klarer Jun 16, 2016 ▶ 10:57
Assertion Not checkable as stated
Klarer: BridgeCrest revenue was under $1M in 2015
“So we just launched in 2015. So we were below a million at the end of that year, but it was about, you know, less than a quarter.”
Nathan Klarer Jun 16, 2016 ▶ 11:47
Disclosure
Barrick Gold partnered with BridgeCrest Medical to develop its wearable solution
“Barrick, who is our development partner building this solution.”
Nathan Klarer Jun 16, 2016 ▶ 12:57
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