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DFnet

Vertical SaaS + services · clinical EDC/CDMS · bootstrapped since 2004
👤 Darryl Pahl & Lisa Ondrejcek (Married co-founders from Fred Hutchinson Cancer Research Center; they managed trial data before selling the software for it.)🌐 siteLinkedIn

Drug trials legally need validated data systems. DFnet bought the old DataFax tool and its clients, then modernized it.

Will it work? · our read
Quietly unkillable. An unglamorous niche with far larger rivals. But FDA rules guarantee the demand, trials can't switch mid-study, and DFnet has grown steadily for 20 years.
01How the money moves
Drug trial legally needs validated data capture
DFnet configures DFdiscover and runs the data
Charges license plus data services per study, for years
02The numbers
About $10MStatedrevenue, SaaS + services
2025source: approaching $10M in revenue
$10M
revenue (approx)
20+ yrs
bootstrapped, no VC
21 CFR Part 11
FDA-grade capture
Revenue and history are founder-stated on Practical Founders (Oct 2025); the compliance badge is from a third-party EDC directory listing. Practical Founders #167
About $10M across DFdiscover licenses and data-management services; bootstrapped since 2004, about 50 staff, no VC.
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Sources
Practical Founders #167 — Darryl Pahl, DFnet (Oct 2025): show notes state "approaching $10M in revenue", bootstrapped 20+ yrs, about 50 staff, DataFax acquisition brought 35+ clients.BetterClinical — DFnet/DFdiscover EDC listing: "compliant with FDA 21 CFR Part 11"; hybrid paper + EDC capture.Software Hamilton — DataFax (2011): Clinical DataFax Systems Inc., Hamilton, Ontario; 19+ yrs, 1,000+ sites, 10,000+ patients, no FDA citations.CDISC — DF/Net Research member profile: 10+ year member of the clinical-data standards body.
Revenue is first-party but STATED, not filed: the Practical Founders podcast page (episode #167, Oct 23 2025, featuring co-founder Darryl Pahl) states in its show notes that DFnet "has grown to more than 50 employees and is approaching $10M in revenue." That is third-person narrative summarizing the episode, not a marked verbatim quote from Pahl, but it is first-party content built from his own interview, so STATED still applies. That figure is total company revenue — DFdiscover software licenses plus data-management services — and is not broken out or audited, so treat it as a blended, self-reported number. Founding (Seattle, 2004), bootstrapped and still-independent status, about 50 staff, and the DataFax acquisition (35+ clients overnight) are from the same page, which I opened. The 21 CFR Part 11 compliance is from a third-party EDC directory listing (opened); DataFax's pre-DFnet history (Clinical DataFax Systems Inc., Hamilton, Ontario) is from Software Hamilton, a secondary source (opened). DFnet's own site was rate-limiting (HTTP 503), so no claim here rests on a page I could not read. No documented drama — this is a slow, patient execution-and-timing story, not a scandal. We never score you.