VC's Non-AI Bet: $3M Senior-Care SaaS Hits $13M Revenue, $50M Run-Rate and a $200M Term Sheet
MartinGTobias · x · 2026-09-22
Investor Martin Tobias pushes back on the 'bifurcated venture market' narrative by sharing a counterexample: in June 2022 he invested in a traditional SaaS company selling into senior care—no AI, no agents, a first-time founder—at a $3M valuation.
Results:
- Over $13M in revenue this year, profitable for the last two years;
- Exiting the year at over $50M run rate;
- Just received a term sheet at over $200M valuation.
His takeaway: ignore media narratives about only generational companies paying off—build something that solves a huge problem people will pay for and focus on customers.
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