When Disruption Corporation shut down and was absorbed by 1776, not every startup that had come to the Crystal City space stuck around. Online construction marketplace startup SupplyHog was one of the first to start working in the office, splitting between Virginia and Chattanooga, Tn. Eight months after Disruption and Crystal Tech Fund folded, the five-year-old startup doesn't seem much phased, with a new website design and new features to streamline its service.
"It all happened pretty suddenly," said SupplyHog CEO Nathan Derrick in an interview with DC Inno. "The grand plan was to have the whole team there. Now we're focused on our future."
Derrick knew Singh through their shared connection to 500 Startups; SupplyHog was a 500 accelerator company, and Derrick moved himself and the company into Disruption before he even saw the space, and before he even found a place to live. Bold moves like this haven't done the company any harm though: SupplyHog has brought in over $3 million from investors including Rockville, Md.-based Camber Creek, and has moved more than $4 million worth of product in 40 states over the last year.
"Building is really one of the last industries that hasn't adapted to new technology," Derrick said. "That's starting to change. We want to be a change agent, to power local commerce with our platform."
Office location isn't a central issue for a SaaS company like SupplyHog, but it can play a role in attracting talent and generally managing company growth. And while it may not longer have a Disruption office, SupplyHog's headquarters is very much in the mold of a startup hub, located in the former home of one of Chattanooga's most successful startups ever, Access America. That transportation logistics firm was sold last year to to Coyote Logistics for $125 million, while the founders created the venture incubator Lamp Post Group, which counts SupplyHog as one of its portfolio companies.
Coming back to Chattanooga isn't really a negative for the company, Derrick said. SupplyHog's revenue is still growing, with profitability possible as soon as next year, and he doesn't regret taking the chance on moving to Crystal City.
"I'm glad we did it, I got a lot out of it and met a lot of great people," Derrick said. "But Chattanooga is great. We love it here, it's home."
