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The Pursuit of Scrappiness
Uldis Teraudkalns & Janis Zeps
229 episodes
1 month ago
Dmitry Gurski founded Flo Health in 2015, turning it into the leading women’s health app globally with over 420 million downloads and 80 million monthly active users. From bootstrapped beginnings to a $200M Series C from General Atlantic in 2024 (valuing Flo at $1B+), Dmitry has scaled the company to profitability, with offices in Lithuania and the UK. 🎓 Expect to Learn: - How Flo became a $1B+ company without a clear playbook — and why long-term planning is mostly fiction - What 20 yea...
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All content for The Pursuit of Scrappiness is the property of Uldis Teraudkalns & Janis Zeps and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
Dmitry Gurski founded Flo Health in 2015, turning it into the leading women’s health app globally with over 420 million downloads and 80 million monthly active users. From bootstrapped beginnings to a $200M Series C from General Atlantic in 2024 (valuing Flo at $1B+), Dmitry has scaled the company to profitability, with offices in Lithuania and the UK. 🎓 Expect to Learn: - How Flo became a $1B+ company without a clear playbook — and why long-term planning is mostly fiction - What 20 yea...
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Education
Technology,
Business
Episodes (20/229)
The Pursuit of Scrappiness
211. 420M downloads, 80M Active users, $200 M raised. Dmitry Gurski (Flo Health): “Don’t Listen to Negative Opinions. I Was Shy & Nerdy—20 Years Ago No One Would Believe I Could Lead a $1B++ company.” Leadership Lessons Behind the World’s #1 Health App
Dmitry Gurski founded Flo Health in 2015, turning it into the leading women’s health app globally with over 420 million downloads and 80 million monthly active users. From bootstrapped beginnings to a $200M Series C from General Atlantic in 2024 (valuing Flo at $1B+), Dmitry has scaled the company to profitability, with offices in Lithuania and the UK. 🎓 Expect to Learn: - How Flo became a $1B+ company without a clear playbook — and why long-term planning is mostly fiction - What 20 yea...
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1 month ago
46 minutes

The Pursuit of Scrappiness
210. Lt. Gen. Ben Hodges: “Russia Is Already at War With Us” — Making Decisions Under Uncertainty, Taking Ownership Without Blame & Ethical Dilemmas in AI Decision-Making
Lieutenant General Ben Hodges is a retired U.S. Army officer who served as Commanding General of United States Army Europe from 2014 to 2017. With a 38-year career spanning infantry roles, combat deployments in Iraq and Afghanistan, and leadership in NATO exercises, he is renowned for his expertise in military strategy, alliance building, and deterrence. Post-retirement, Hodges has become a prominent analyst on European security, Russia’s invasion of Ukraine, and transatlantic relations, advi...
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1 month ago
40 minutes

The Pursuit of Scrappiness
209. No Cards, No Phones, Just Your Hand: How Handwave Raised €4.2M to Build the Future of Payments With Palm Biometrics w/ Janis Stirna
Jānis Stirna is the co-founder and CEO of Handwave. The company’s palm-scanning tech enables cardless, phoneless payments and identity verification, emphasizing security (two-factor biometrics) and affordability to outpace rivals like Amazon One. With $5M raised—including a $4.2M seed from Practica Capital in August 2025—Handwave partners with Visa and targets retail pilots in Europe, the U.S. and beyond. On this episode we talk about: How fintech innovations like Apple Pay inspired HandwaveN...
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2 months ago
44 minutes

The Pursuit of Scrappiness
208. Bootstrapped, Profitable (€2.2M) & Paying Dividends: How HackMotion Turned a Niche Golf Gadget Into a Global Hardware Business w/ Atis Hermanis
Atis Hermanis is the co-founder of HackMotion. With a Ph.D. in electronics, sensor systems, and signal processing, Atis brings a research background to the company’s wrist-worn tech for golf swing analysis. HackMotion has bootstrapped to profitability, hitting €7.3M revenue in 2024 (160% growth) and 476% profit increase, while pioneering paying €30K in dividends to employees in H1 2025. Winners of the Baltic E-Commerce Star award, they’ve scaled globally, partnering with PGA Tour pros and foc...
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2 months ago
48 minutes

The Pursuit of Scrappiness
207. From Managing Partner to Startup CEO: Mariana Hagström (Avokaado) on Automating Legal Workflows, Building AI That Replaces Repetition (Not Humans) & Why Corporate Professionals Must Learn to Trust AI
Mariana Hagström is the Founder and CEO of Avokaado. Based in Estonia, Avokaado’s cloud-based contract lifecycle management (CLM) platform automates drafting, oversight and workflows. With over €2M raised from Tera Ventures, ParticleX and others, Mariana’s scaled a legal tech tool that is used not only by law firms, but also companies of various sizes across the globe. A 2020 European Woman of Legal Tech, she’s a vocal advocate for AI in legal teams, ethical innovation, and empowering women i...
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3 months ago
46 minutes

The Pursuit of Scrappiness
206. Turning Mixed LEGO Bricks Into a VC-Backed AI Startup: €1.5M Raised, Benefits of Iterative Fundraising, Real-World Complexity of Building Hardware & a New Frontier in Circular Tech w/ Ilya Malkin (Sort A Brick)
Ilya Malkin is the co-founder of Sort-A-Brick, a Vilnius-based startup that raised over €1 million in pre-seed funding at the end of 2024. Sort-A-Brick leverages AI-powered computer vision to analyze and sort mixed Lego bricks sent in by customers, identifying which complete sets can be rebuilt from them—breathing new life into unused collections and promoting a circular economy in toys. With a background in management consulting, Ilya spotted an opportunity in the massive Lego market while d...
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3 months ago
43 minutes

The Pursuit of Scrappiness
205. AI Startup Founded in 2024 Raises €15M Seed Round, Signs 7-Figure Deals With No Outbound Sales & Aims to Lead the Next AI Breakthrough Beyond LLMs Into Physics and Industrial Simulations w/ Miks Mikelsons & Dennis Just (Emmi AI)
Dennis Just and Miks Mikelsons are the co-founders of Emmi AI, a deep-tech startup revolutionizing industrial engineering through cutting-edge AI simulation technology. Based in Austria and founded in 2024, Emmi is already making waves with a €15 million seed round led by top-tier investors like Speedinvest, 3VC, and Serena. With a team heavy on researchers and a foundation in serious academic publishing, Emmi is tackling complex, unsolved physics-based simulation problems across industries l...
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5 months ago
51 minutes

The Pursuit of Scrappiness
How Revolut Hacked Growth With No Budget: Guerrilla Tactics, Partnerships, and Product-Led Virality (INSIGHT #18)
This is an insight from our previous conversation on growth hacking and building Revolut customer acquisition early on: You can grow fast without budget by trading value with the right partners.Putting your product where people already are makes them more likely to try it.Local, targeted efforts work better than big, generic marketing.It’s more important to get people using your product than just seeing it.Andrius Biceika is a non-executive director at Revolut. He was one of the early employe...
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5 months ago
14 minutes

The Pursuit of Scrappiness
Influencer Marketing 101 for Startups: “If It Works in Your Industry, Your Competitors Are Already Beating You to Death With It” & “If You’re So Small That You Need Every Creator to Deliver Super High Return, Then Don’t Do It.” (INSIGHT #17)
This is an insight from our previous conversation on how to work with influencer marketing: When you should and shouldn’t start influencer marketing.Why a portfolio approach to creators mirrors venture investing logic.The importance of creator enthusiasm and authenticity.Lessons from successful campaigns with consumer and B2B angles.Avery Schrader is the founder and CEO of Modash, a leading influencer marketing platform that helps brands scale partnerships with content creators. With a backgr...
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5 months ago
13 minutes

The Pursuit of Scrappiness
204. Mintos CEO Martins Sulte on How to Handle Market Volatility as a Retail Investor & Fintech Founder. Practical Tools To Increase AI-Efficiency Today. Why Retail Investors Are Spoiled For Choice & Why You Shouldn’t Start Investing With Trumpcoin
Martins Sulte is the co-founder and CEO of Mintos, the largest investment platform of its kind in Europe, with over 700 million euros in assets under administration and more than half a million users. Since launching in 2014, Martins has led the company from a peer-to-peer lending marketplace to a full-scale multi-asset platform, offering access to loans, ETFs, bonds, real estate, and soon—crypto and stocks. With a background in finance and management consulting, Martins brings a disciplined ...
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5 months ago
44 minutes

The Pursuit of Scrappiness
203. Monthly Tech Brief: Wise Founders Outrank Ed Sheeran on UK Rich List, €100K Salaries in Lithuania’s Startups, Crypto Founders Getting Kidnapped, Slack and ChatGPT Can Be Used Against You in Court & Klarna Rehires Humans in AI Reality Check
Welcome to the Pursuit of Scrappiness Tech Brief. A monthly discussion on topics we find relevant to highlight, discuss and share with you to help you become a scrappier and better version of yourself. On this episode we talk about: 🇱🇹🇱🇻🇪🇪 BALTICS • Wise founders on UK Rich List – Kristo Käärmann and Taavet Hinrikus rank among UK’s wealthiest. • Lithuanian startup salaries – Average tech salary at €4.6k/month, possibly more favorable than Berlin after tax and cost-of-living adjustments....
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6 months ago
1 hour 3 minutes

The Pursuit of Scrappiness
202. Tax Expert Reveals How Startups Can Take Advantage of Tax Opportunities, Where the Baltics Rank in Competitiveness Globally & How to Use Niche Content to Build Your Personal Brand w/ Janis Taukacs (Sorainen)
Janis Taukacs is a seasoned tax advisor and partner at Sorainen law firm, where he leads the tax and customs practice. He has nearly 30 years of experience across the Baltics and internationally. Known for his deep expertise in corporate taxation, international structuring, and tax dispute resolution, Janis is also a passionate content creator, running the “Tax Stories” blog and podcast. Through his work, he bridges complex legal frameworks with practical insights for founders, investors, and...
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6 months ago
53 minutes

The Pursuit of Scrappiness
201. Sales Expert with $2Bn in Deals Signed Reveals Why People Fear Sales, Why Good Writing Is Critical, How to Do Founder-Led Sales, Common Mistakes, How to Build a Sales Process in a Startup, and the Impact of AI w/ Zoltan Vardy (Launch Code)
Zoltan Vardy is a seasoned sales strategist, startup mentor, and now also a published author whose career spans over 30 years, more than $2 billion in closed deals and more than 200 startups assisted in building their sales function. From leading multinational sales teams to advising early-stage B2B startups, Zoltan has dedicated his work to helping founders build scalable, recurring revenue engines. His signature methodology, “The Launch Code,” is now also the title of his debut book—a pract...
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6 months ago
55 minutes

The Pursuit of Scrappiness
INSIGHT #16: VC Reveals The Inside Pressure Of Hitting 3X Return Benchmarks And Having To Wait 6–8 Years To Know Whether The Fund Succeeded (And Most Don’t)
This is an insight from our previous conversation on the intricacies of VC business: Winners in VC portfolios usually take 6–8 years to emerge—sometimes longer.The 3x return benchmark is extremely difficult to hit.Many funds don’t actually meet their targets, especially emerging managers.Emotional reality: fund managers often don't know if they succeeded for almost a decade.Jone Vaituleviciute is the managing partner and co-founder of Firstpick, an early-stage VC and accelerator program based...
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6 months ago
13 minutes

The Pursuit of Scrappiness
200th Episode Q&A: What Does It Mean to Be Scrappy, Most Impressive Learnings in 4 Years, Beliefs We Held That Are No Longer True, Tips to Stay Focused & Motivated
Welcome to the 200th episode of the Pursuit of Scrappiness podcast! We celebrate this major milestone by flipping the script. Having interviewed top founders, VCs, and operators across Europe and beyond, we turn the mic on ourselves this time—reflecting on four years of podcasting, lessons learned, and what it truly means to stay “scrappy.” Fueled by thoughtful questions submitted by past guests, this episode is a candid and insightful deep-dive into what it takes to consistently create...
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7 months ago
1 hour 6 minutes

The Pursuit of Scrappiness
INSIGHT #15: Ragnar Sass Explains How Founders Can Make Real Impact on the Security of Europe by Leveraging Their Startup Experience (Technical Expertise Not Required)
This is an insight from our previous conversation with Ragnar Sass on helping Ukraine and Europe win: Why the Baltics are uniquely positioned to lead in defense tech.Defense sector sales cycles vs. SaaS—and how Baltic agility offers an advantage.How Ragnar’s team is building a fast, hands-on defense startup ecosystem with hackathons, bootcamps, and testing in Ukraine.Real examples of non-technical founders thriving in defense tech, and why operational skills are more important than ever.Ragna...
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7 months ago
13 minutes

The Pursuit of Scrappiness
71% of Exit Funding in 2024 Came from Secondaries: Learn How It Works, When Your Startup Is Ready, and How to Negotiate the Best Terms w/ Rando Rannus (Siena Secondary Fund). Ep 199
Rando Rannus is a general partner at Siena Secondary Fund, the first and only dedicated secondary VC fund in the Baltics. With a unique background as both a company founder and operator—having built and sold an advertising business to MTG Group, and held leadership roles at Bolt and Viveo Health—Rando brings an operator’s mindset to venture investing. His fund specializes in providing liquidity to founders, employees, and early investors in high-growth scaleups, with a focus on the CEE and No...
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7 months ago
48 minutes

The Pursuit of Scrappiness
198. Europe Strikes Back, Biggest Fundraising Announcements in March, Elon Controls 60% of World’s Satellites, Alibaba Joins AI Race, xAI Buys X
Welcome to a new type of episode of the Pursuit of Scrappiness podcast. A monthly analysis of topics we find relevant to highlight, discuss and share with you to help you become a scrappier and better version of yourself. We will be looking at events and developments in business, politics and technology from a European and particularly Baltic perspective. On this episode we talk about: Baltic funding newsEnefit Green going privateHow Europe strikes back in space and rocket techHarry St...
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7 months ago
1 hour 2 minutes

The Pursuit of Scrappiness
800M Downloads, $100M Revenue: How a Bootstrapped Lithuanian Game Studio Won Big — Lessons in Gamification, A/B Testing & Standing Out in Hyper-Competitive Market w/ Ada Mockute Jaime (Nordcurrent). Ep 197
Ada Mockutė Jaime is the Chief Marketing Officer at Nordcurrent, the largest game developer and publisher from the Baltics. With over 800 million game downloads worldwide and a portfolio of hit mobile titles like Cooking Fever and Airplane Chefs, Nordcurrent has become a global gaming powerhouse—all while remaining completely bootstrapped. On this episode we talk about: How Nordcurrent scaled into a global gaming giant without any external funding, driven by adaptability and long-term t...
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8 months ago
50 minutes

The Pursuit of Scrappiness
INSIGHT #14: Listen to This If You Want to Accelerate Your Career in Tech & Startups: How StartSchool Aims to Bring Free World-Class Coding Education to the Most Ambitious New Founders
This is an insight from our previous conversation on jumpstarting your tech career by joining Startschool: Apply by March 31st, 2025Get world class training for freeProject based, peer-to-peer learningLearn both tech and business skillsAnna Andersone and Kristofs Blaus are co-founders of StartSchool, a brand new transformative IT and business education program in Latvia, aimed at nurturing future technology leaders. With a unique curriculum combining comprehensive coding education from Silico...
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8 months ago
11 minutes

The Pursuit of Scrappiness
Dmitry Gurski founded Flo Health in 2015, turning it into the leading women’s health app globally with over 420 million downloads and 80 million monthly active users. From bootstrapped beginnings to a $200M Series C from General Atlantic in 2024 (valuing Flo at $1B+), Dmitry has scaled the company to profitability, with offices in Lithuania and the UK. 🎓 Expect to Learn: - How Flo became a $1B+ company without a clear playbook — and why long-term planning is mostly fiction - What 20 yea...