Successful Bay Area Startup Team comes back to Sacramento to Launch Cloud Video Security Company
January 2, 2018
Rhombus Systems Team is Welcomed Home to Launch Cloud Video Security Company
Q&A: The details of why Rhombus Systems chose Greater Sacramento
Why did you choose the Sacramento region to do business in?
“For many of our team, Sacramento is our home now or was originally! Ever since leaving, we have looked for a way to come back and start something here. Due to a number of intersecting trends below, we see now as the perfect time for tech companies to start in the region.”
The downtown revitalization of Sacramento
- This is really important because a lot of young people work in tech and they like to be near city centers
The rapidly escalating cost in the Bay Area
- Not only is it expensive for employees to live in the bay area, but for startups it’s becoming increasingly cost prohibitive to hire and retain talent
- Yes, the bay area has always been expensive, but over the last few years it’s feeling like the problem is rapidly getting worse
The ease of working and doing business remotely
- With all the teleconference tools, it is becoming increasingly easier to have employees where you want them and still get business done efficiently.
- Given how close Sacramento is to the bay area, it’s easy to quickly get there when needed so in our mind we get the best of both worlds – an affordable place to do business but easy access to the epicenter of tech.
What are the benefits of living and doing business in the Sacramento region?
#1 Cost effectiveness
#2 We’re new, but given the answer above we hear retention is much better which is a huge issue in the Bay Area
#3 Proximity to the Bay Area — One of the major issues going on in the Bay Area is the market price for engineers has made it near impossible to make any sort of seed investment last. Even raising a $1 million round is going to get you a few people for less than a year, barely enough time to build a product let alone start to sell it. Sacramento is able to offer entrepreneurs more runway to get their companies off the ground.
Do you believe your location in the Sacramento region has helped you find quality talent?
“Yes, between UC Davis and Sac State, the local people, and people that have moved from the bay area, we don’t see an issue finding the talent we need.”
Why do you choose to do business in California over other states?
“California, and Northern California specifically, has the largest concentration of tech experience and venture capital in the world. As connected as the world is becoming online, having physical proximity to these people and capital is a big advantage. There’s a collective wisdom in the area that just makes working through all the challenges of a startup that much easier.”
What is your favorite restaurant or hangout spot in the Sacramento region?
“We like the Temple locations and Sauced!”
MyFloraDNA combines DNA technology with high-throughput data management, using their Real Time Dashboard MyFloraCLOUD. This effective tool enables their clients to manage their data from tested samples. This app also uploads the Molecular ID information of the sequenced strain to the Blockchain (in case the client requires it) to protect the information as much as possible.
Origin Materials was founded in West Sacramento by two UC Davis graduates who met while studying chemical engineering. Today, Origin is the world’s leading carbon negative materials company, boasting partnerships with the likes of Mitsubishi and LVMH Beauty.
Michael Moore is the Managing Director, Tax Credits & Investment Advisory Services at Ernst & Young and a member of GSEC’s Competitiveness Council. Learn more about why he values economic development, working with GSEC and living and working in the Greater Sacramento region.