The B.C.-based software company is reportedly closing the deal this week led by Silicon Valley investment firm TCV. Existing Jane investors will sell secondary shares to TCV rather than the company issuing new equity shares. Jane did not respond to The Logic’s request for comment. (The Globe and Mail)

Talking point: Jane’s value is now three times higher than it was in 2021 when U.S. firm JMI bought more than US$100 million in shares in another secondary deal. Founded in 2012, Jane sells cloud software to small and medium-sized health-care providers, like massage therapists and physiotherapists, to manage things like booking, communication and payments. About 50,000 clinics use the app, and the company generates about $100 million in annual revenue. “It’s rare to find practice-management software that people fanatically rave about,” JMI general partner Matt Emery told The Globe and Mail in 2023. The company has taken a different approach to scaling than many software firms, raising relatively little venture capital and prioritizing profitability from the start.