Rypples' Jerome Ternynck on building teams and scaling impact in conversation with Robin Haak

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Rypples' Jerome Ternynck on building teams and scaling impact in conversation with Robin Haak

A candid discussion on scaling B2B SaaS, the art of hiring great talent, leveraging AI to transform recruitment, and why making an impact can also be highly profitable.

Nov 28, 2024

Transcript

In this episode of the EUVC podcast, Andreas talks with Robin Haak, the solo GP behind Robin Capital, and Jerome Ternynck, founder of SmartRecruiters and a new initiative called Rypples.

Together, we explore the evolution of recruiting, why "you are who you hire," and how AI is reshaping talent acquisition. Jerome brings insights from decades in HR tech, while Robin adds the investor’s perspective on navigating and succeeding in competitive markets.

We’ll dig into Jerome’s journey with SmartRecruiters and the problem-solving mindset that’s driven his work for the past 30 years. We'll also uncover Rypples—his new mission to combine sustainable impact and financial return by investing in ocean-positive startups—and why sustainability is the next big business frontier.

Watch it here or add it to your episodes on Apple or Spotify 🎧 chapters for easy navigation available on the Spotify/Apple episode.

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✍️ Show notes

Rypple's Vision: Sustainable Impact Beyond Profits

Jerome is clear about what Rypples aims to do: "We actually have the opportunity to become the first sustainable generation." The goal isn't just making an impact—it’s doing so while being profitable. Rypples is not a traditional fund; it’s an ocean investment firm investing out of its own balance sheet. Key highlights include:

Not a Fund, but an Evergreen Approach: Jerome shares that Rypples operates with their own capital, focusing on ocean-positive ventures at seed and Series A stages.
Aligned Incentives for Profit and Impact: Jerome firmly believes that making money is key to driving impact. Ventures that scale can only do so with sustainable financial models.

The Art of Fundraising and the VC Relationship

Jerome brings up a vital point about venture fundraising—how important it is to create urgency among investors: "Fear of missing out is actually the only driver of term sheets." He explains his approach to engaging VCs:

FOMO as the Key Driver: Fundraising is not about proving numbers to everyone; it’s about getting a few to fear missing out. Jerome advises keeping a small circle and building strong relationships long before you raise.
VCs Are Not Your Advisors: He stresses the need for founders to recognize VCs as investors, not necessarily advisors. Founders should manage their board with a clear understanding of each member’s role.

Scaling Smart Recruiters and SaaS Lessons

Jerome reflects on scaling Smart Recruiters, covering challenges in SaaS growth from ARR of $1M to $10M, and ultimately beyond:

Customer Acquisition & ICP Focus: The need to transition from product-market fit to go-to-market fit was a key point. Jerome highlights, “Every company needs to hire, but serving everyone makes you a servant of all and a master of none.”
Sales Metrics & Efficient Teams: Jerome speaks about getting sales efficiency right: "A dollar of sales and marketing needs to deliver a dollar of ARR." He emphasizes that for smaller contract values, optimizing for efficiency becomes even more critical.

AI in Recruiting: Opportunities and Challenges

Robin asks Jerome about the role of AI in recruitment, given Jerome’s extensive experience in the space:

Automating the Recruitment Process: Jerome believes in the potential of AI to reduce inefficiencies in recruitment, with Winston (their AI tool) already handling high-volume recruitment processes for major firms.
Moving Beyond User Interfaces: He makes a bold prediction, “No user will want to learn a software ever again. The software should learn them.” Jerome envisions a future where interfaces are replaced by intuitive AI-driven experiences.

CEO as an Athlete: Continuous Learning

Jerome underscores the concept of the CEO as an athlete, noting, “You, as a CEO, are both the main driver and the main limitation of your company.” The discussion revolves around the need for continuous self-improvement and pushing personal boundaries:

Constant Learning as the Key: Successful founders are curious and proactive in their growth. Jerome also emphasizes being open to stepping aside if you become the limiting factor for your company’s progress.

The Rypple Mission: Oceans, Sustainability, and Scale

Jerome shares the motivation behind starting Rypples after stepping down as CEO of Smart Recruiters:

Focusing on the Oceans: With Rypples, Jerome and his partner have chosen to focus on ocean-positive projects—dealing with sustainable fisheries, ocean data systems, maritime decarbonization, and coral reef restoration.
Scalable Solutions for Real Impact: Rypples looks for startups that have a working product and market fit, and helps them scale, combining funding with operator expertise to maximize growth.

Final Thoughts: Collaboration and Real Value

Robin closes by reinforcing that Jerome’s approach combines long-term mission-driven work with real-world financial acumen. Both Robin and Jerome encourage VCs and founders to look beyond immediate numbers and think about the lasting impact of their ventures.

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