New Relic is closing the company’s downtown Seattle office in an effort to consolidate its Northwest cohort.
The publicly-traded San Francisco-based app analytics company is shutting down its small Seattle office and moving employees down to Portland, where New Relic has a large engineering center.
New Relic spokesman Andrew Schmitt confirmed with GeekWire that the company did not eliminate any positions as part of the Seattle office closure. It offered positions and relocation to the team in Seattle “to help make the move down to our Portland office,” Schmitt said.
New Relic raised $215 million since launching in 2007 and went public in December 2014. The company, now worth around $1.5 billion, helps customers understand how users are interacting with their software in real time, providing data related to user click streams, mobile activity, end user experiences, transactions, and more. New Relic’s stock is down 25 percent today and trading below its IPO price of $23 per share despite beating analyst expectations for its Q3 earnings report.
New Relic is among a bevy of out-of-town tech companies like Airbnb, eBay, Google, and others that have offices in Portland. Amazon now has a presence in the city after acquiring Elemental Technologies for $296 million in October.
Seattle, meanwhile, is also home to several engineering centers for companies like Facebook, Twitter, Google, and many more.
