New Relic continues downtown Portland expansion

Employment at the company’s “intergalactic engineering headquarters” exceeds 200.

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Employment at the New Relic’s “intergalactic engineering headquarters” in Portland exceeds 200 and the software company lists 20 open positions on its site.

According to the Portland Business Journal, the San Francisco-based company is set up to have “the things that make it a product” in downtown Portland with business operations in the Bay Area.

A big selling point is Portland’s relative affordability. For instance, the second quarter average home price in Portland’s most expensive neighborhood is $661,822. In the San Jose metro area, aka Silicon Valley, the median price is $980,000.

As the Portland office has grown, its leaders worked hard to maintain the feel of a startup, another attribute that helped attract many early engineers.

(SOURCE: Portland Business Journal)

In other startup news, investor Nitin Rai is teaming with the Oregon Regional Accelerator and Innovation Network to launch a regional seed fund.

It will serve the south Willamette Valley area.

“We’ve known for some time that an early-stage fund would be critical for taking RAIN — and therefore the companies it supports — to the next level,” said RAIN Executive Director Jim Coonan, in a written statement. “We went through an exhaustive process to identify a partnership that would align our needs, and we couldn’t be more pleased to have an accomplished entrepreneur, mentor and investor like Nitin lead this new venture.”

Rai is president and CEO of the software company First Insight and a founding charter member of the entrepreneurial organization TiE Oregon. He serves as president of the TiE board and chair of TiE Angels, the organization’s angel investment group.

(SOURCE: Portland Business Journal)

The proposed fund will distribute investments from $25,000 to $250,000.


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