Early-stage investment fund SaaS Venture Capital has invested in promising startups in more than two-dozen cities. But in some cases, "city" might be an overstatement.
SaaS has found startups in Camp Hill, Pennsylvania; Pleasant Grove, Utah; and Mechanicsville, Virginia—which is actually an unincorporated area 10 miles outside Richmond.
If those places sound a long way from San Francisco, New York, Seattle, Boston, or Austin, that is intentional. SaaS looks for investments outside the big tech centers and gets in early on startups overlooked by VC firms unduly focused on companies in a handful of cities, says Collin Gutman, cofounder and managing partner of SaaS. As highly skilled workers flee expensive tech centers for America's heartland, great investment opportunities are coming with them, he says. That is particularly true in the cybersecurity industry, which has boomed during the coronavirus crisis, with no slowdown in sight.