An investment from Elevate Capital results in a new Beaverton startup

Stop me if you’ve heard this one before. A company manages to land early stage capital and, in so doing, decides to move their headquarters from their founding city to a city closer to their investor. Of course you’ve heard it. It’s something that regularly happened to Portland companies not so long ago. But today, there’s a new twist. Instead of companies leaving town, folks are starting to relocate those headquarters to Portland. And this time, at least part of that decision was thanks to a local investor.

According to GeekWire, GrowthPlug chose Portland after local venture fund Elevate Capital led their financing round. Access to talent was also a key part of this decision for the company.

Heading north: Sudhir Bhatti, CEO and co-founder of GrowthPlug, said the Bay Area was a great place to get connected to world-class investors. “But when it comes to hiring, it’s a hyper-competitive market and as an early-stage startup, a great and dedicated team is what matters the most,” he said.

That’s what eventually led to the relocation to the Portland region, which offers “the right mix of tech talent, great quality of life and booming startup scene,” Bhatti said. “We have been looking forward to moving GrowthPlug’s headquarters to a region where we can be capital efficient and get access to a big talent pool in the tech space,” he added.

“There are a lot of talented people who already live in the area or are willing to relocate to Oregon,” he told Willamette Week. “Because of the quality of life, fun outdoor activities like hiking and skiing nearby, and less traffic in the area.”

For more on the newly Beaverton-based company, visit GrowthPlug.