In 2014, Vacasa topped the Business Journal's list of Oregon's Fastest Growing Private Companies. No one had ever heard of this vacation rental company, but its growth was astounding. It had a two-year growth rate of 3,000% and, at just four years old, $26 million in revenue. Since then, Vacasa's star has only risen. Over the years, it became one of Portland's highest funded startups, achieved unicorn status and, in December, began trading on the Nasdaq as one of Oregon's newest public companies.
Given the splash that Vacasa made on the PBJ's 2014 list, we thought it was worth highlighting startups that are making their own debuts on this year's list. We narrowed the scope to look only at newbies that are less than 10 years old.
That brought us to the 12 companies listed here in alphabetical order. We're calling them Early Risers, in that they're young and rising fast, not to mention strengthening the entrepreneurial fabric that is, in so many ways, the backbone of Oregon's economy.
Above the Fray Design
Founded: 2017
Two-year growth rate: 212.9%
List ranking: 16
What it does: E-commerce agency focused on manufacturers and producers
Cardone Ventures
Founded: 2019
Two-year growth rate: 1386.3%
List ranking: 3
What it does: Business consulting
Customer.io
Founded: 2012
Two-year growth rate: 145.7%
List ranking: 22
What it does: Marketing software to automate messages across channels
Dext Capital
Founded: 2019
Two-year growth rate: 867.3%
List ranking: 5
What it does: Lender focused on the health care industry
Face Rock Creamery
Founded: 2012
Top executive: Greg Drobot, owner and president
Employees: 91
2021 revenue: $5.91M
2019-2021 revenue growth: 45.9%
List ranking: 66
What it does: Manufacturer and retailer of specialty cheeses
Of note: Face Rock Creamery picked up six medals at the 2022 International Dairy Competition in Los Angeles. The award winners were the Bandon-based cheese maker's aged cheddar, cheddar cheese curds, Vampire Slayer cheese curds, Face 2 Face Clothbound bandaged cheddar, Face 2 Face Cheddar, Vampire Slayer Cheddar.
Joyful
Founded: 2015
Two-year growth rate: 245.3%
List ranking: 13
What it does: Helps clients create vibrant company and customer cultures
Lucky Lion
Founded: 2015
Two-year growth rate: 153.1%
List ranking: 19
What it does: Vertically integrated cannabis company
Modernist Financial
Founded: 2015
Top executive: Georgia Lee Hussey, founder and CEO
Employees: 6
2021 revenue: $695,382
2019-2021 revenue growth: 35.5%
List ranking: 82
What it does: Registered investment advisor
Of note: Hussey is one of a handful of women who have launched financial services firms in the past few years, a sign that Portland's wealth management industry is diversifying as clients seek more investing options. "People are waking up to the fact that who manages their money and who makes the profit from their money is important," Hussey told the Business Journal last year. "There's a deep desire to align financial choices with what people believe in."
MyTeam Medical Staffing
Founded: 2018
Two-year growth rate: 562%
List ranking: 7
What it does: Medical staffing
Northwest Private Lending
Founded: 2016
Top executive: Eric Larson, president
Employees: 8
2021 revenue: $1.6M
2019-2021 revenue growth: 86%
List ranking: 39
What it does: Lender for real estate investors
Of note: NWPL is committed to giving away 10% of gross income to charitable organizations. According to the company's website, nonprofit partners include My Father's House and Portland Rescue Mission, which both assist people experiencing homelessness; and With Love, which provides support to foster families.
Pinnacle Pro Logistics
Founded: 2016
Two-year growth rate: 2207.9%
List ranking: 2
What it does: Third-party logistics
Purelight Power
Founded: 2019
Two-year growth rate: 2553.9%
List ranking: 1
What it does: residential solar panel installation
