Today, Thinkific embarked on their journey as a publicly listed company on the Toronto Stock Exchange (TSX) under the ticker “THNC”, which marks the first IPO in Rhino’s history!
Over the past five years, we’ve had the privilege of holding front-row seats to Thinkific becoming one of Canada’s most promising high-growth technology companies (THNC is the highest growth SaaS company in the history of the TSX). Having the opportunity to support them on their journey since our first investment in 2016, to co-locating with them at the Bunker (Rhino’s 1st office), to funding their Growth round last year, all the way through to ringing the IPO bell with them today has truly been an honour.
When we set out to build the fund that put the entrepreneurs at the center of everything we did, the true customers we serve, we had a vision of being at the table from the most formative stages through an IPO.
Now that we’re here, it is a humbling experience for us at Rhino. Humbling because it had very little to do with us and it had everything to do with the incredible people at THNC - building value day in and day out.
As we reflect on our past decisions to invest in THNC, we go back to one line we wrote in late 2015 - “entrepreneurs are the true builders of value, the drivers of progress and positive change. Reducing barriers to entry for entrepreneurs is at the heart of the “why” for Thinkific.” That statement is still true today. The THNC team is mission driven; trampling barriers to entry for knowledge entrepreneurs to realize their full potential.
Greg (Thinkific CEO/Co-Founder) and his team have built a category-leading business that empowers entrepreneurs, around the world, to build businesses teaching what they know and are passionate about. The rise of the “creator economy” and the continued democratization of education are powerful tailwinds for Thinkific. The success of THNC is a testament to a venture truism “when a great team meets a great market, something special happens”.
We put together a video to celebrate this significant moment in both Thinkific and Rhino’s history by taking a moment to reflect back on the journey that brought us here today.
It is with great excitement and pride that we welcome Greg Smith, Miranda Lievers, Matt Payne, Matt Smith, and the entire Thinkific team to the Golden Crash!