At the BetaKit Town Hall: Vancouver last night, Alison Taylor, co-founder of clinic management software company Jane App, revealed that her company has achieved $100 million in annual recurring revenue (ARR).
As opposed to a unicorn valuation, “centaur” refers to private SaaS companies that reach the nine-figure revenue milestone. The term was first coined by Bessemer Venture Partners, who described it as “an elite subset of the growing unicorn herd” in its 2023 State of the Cloud report.
“Now $100 to $250 million [ARR] seems like it’s more accessible.”
Alison Taylor
Jane App
Joined on a Vantage Points panel by notable representatives from the British Columbia tech scene, Taylor said she had long been following a spreadsheet that detailed the different paths various companies had taken to $100 million in ARR, then casually mentioned that Jane App had finally reached the milestone this year.
“I hadn’t actually really thought past that moment, and we just hit 100 million [ARR] this year,” Taylor said. “I’m like, ‘Oh okay, now what are we doing?’ Okay, let’s go to a billion.”
On stage, Taylor described how she and her co-founder Trevor Johnston, became “accidental entrepreneurs.” Taylor wanted a better platform to manage the administrative needs of the multidisciplinary clinic she operated, so she went to Johnston, her eventual co-CEO, to build a platform. In 2014, they officially launched Jane App, a software that offers partnered health clinics online appointments, scheduling, and billing on an integrated platform.
The Globe and Mail reported that Jane App had reached $60 million ARR, with about 350 employees in January 2023. The Vancouver-based startup is also a bit of an outlier as a mostly self-funded company, only externally raising less than $10 million, per The Globe and Mail.
At the BetaKit Town Hall, Taylor noted Jane App now has 550 employees before describing how the final stretch to $100 million ARR came naturally.
“I think zero to $5 million [ARR] was actually harder than $50 to $100 million,” Taylor said. “Once you hit a certain path it feels like you just keep doing more of the same, and now $100 to $250 million seems like it’s more accessible.”
Last November, Jane App was recognized on Deloitte’s Technology Fast 50 list with a 378 percent three-year revenue growth rate.
Photos courtesy Eric Ennis from Renovo Agency for BetaKit.