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Elevate Capital company logo
Venture Capital
FINANCE | Investment Firms & Funds
elevate.vc

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Investments

41

Portfolio Exits

3

Funds

5

Partners & Customers

2

About Elevate Capital

Elevate Capital is an investment firm that provides the financial and mentor capital needed to build a successful company.

Elevate Capital Headquarters Location

888 SW 5th Ave Ste 1600

Portland, Oregon, 97204,

United States

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Latest Elevate Capital News

PracticeTek Acquires GrowthPlug to Help Healthcare Practices Modernize

Sep 23, 2022

GrowthPlug furthers PracticeTek’s leadership in helping practices thrive with an all-in-one practice marketing platform PracticeTek, a leading provider of software and payments solutions to the retail healthcare market, announced it has acquired GrowthPlug, a practice marketing platform. “Independent healthcare practices are increasingly focused on growing their patient base, as well as having a unified online presence. GrowthPlug is a market leader in this category and is well-positioned to capitalize on the wave of digitization in practice software.” The acquisition adds GrowthPlug to PracticeTek’s thriving ecosystem of healthcare software companies, enabling GrowthPlug to turbocharge innovation and accelerate growth. GrowthPlug will continue to be led by CEO Sudhir Bhatti , COO Shavita Bhatti, and the founding team. This collaboration will expand support to healthcare practices in acquiring and serving patients with an all-in-one practice SaaS solution. GrowthPlug provides mobile-optimized websites, business listings management, social media publishing, reputation management and intelligent analytics, helping doctor’s offices to turbocharge their digital presence and accelerate revenue. With tremendous recent growth in its customer base, GrowthPlug offers an AI-driven software platform enabling practices to automate their front desk operations and accelerate patient acquisition. The company was initially founded in Silicon Valley in 2016 and moved to Portland, Oregon, in 2019 after securing a $1 million investment from Elevate Capital, which exits its interest with this transaction. “PracticeTek has a proven method for identifying breakout startups with innovative solutions and helping them scale to meet the critical needs of healthcare providers,” said Sudhir Bhatti. “We are excited to partner with other amazing healthcare software organizations to help healthcare practices modernize, automate, and grow successful businesses.” “We’ve been fascinated by the growth journey of GrowthPlug and see its unique capabilities as complementary to our solution suite of practice marketing and automation,” said Eric Leaver, CEO of PracticeTek. “Independent healthcare practices are increasingly focused on growing their patient base, as well as having a unified online presence. GrowthPlug is a market leader in this category and is well-positioned to capitalize on the wave of digitization in practice software.” Nitin Rai, Founder and Managing Partner of Elevate Capital, added: “We are so proud of Sudhir, Shavita, and the entire GrowthPlug team for their achievements and the great returns provided to Elevate Capital in just three short years. Elevate Capital’s investment in GrowthPlug supported their move from Silicon Valley to Beaverton, Oregon, and since then, it’s been an incredible and big win for Beaverton’s startup ecosystem.” In 2021, GrowthPlug was featured in Forbes as a Top Tech and AI innovator. A year earlier, the company was named TiE50 Award Winner at TiEcon 2020. GrowthPlug has been backed by Elevate Capital prior to the PracticeTek transaction, which was led by board members Nitin Rai and Doug Knopper. PracticeTek is backed by investors Lightyear Capital and Greater Sum Ventures.

Elevate Capital Investments

41 Investments

Elevate Capital has made 41 investments. Their latest investment was in TrovaTrip as part of their Series A on September 9, 2022.

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Elevate Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/20/2022

Series A

TrovaTrip

$15M

No

5

8/4/2022

Series A - II

Bacon

$8M

Yes

6

6/8/2022

Seed VC

Skysquad

$1M

Yes

2

5/31/2022

Seed VC

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$99M

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10

4/12/2022

Seed VC

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$99M

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10

Date

9/20/2022

8/4/2022

6/8/2022

5/31/2022

4/12/2022

Round

Series A

Series A - II

Seed VC

Seed VC

Seed VC

Company

TrovaTrip

Bacon

Skysquad

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Amount

$15M

$8M

$1M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

5

6

2

10

10

Elevate Capital Portfolio Exits

3 Portfolio Exits

Elevate Capital has 3 portfolio exits. Their latest portfolio exit was GrowthPlug on September 22, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/22/2022

Acquired

$99M

7

3/24/2022

Acquired

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$99M

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10

8/13/2021

Acquired

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$99M

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10

Date

9/22/2022

3/24/2022

8/13/2021

Exit

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

Acquirer

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Sources

7

10

10

Elevate Capital Fund History

5 Fund Histories

Elevate Capital has 5 funds, including Elevate Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

1/26/2021

Elevate Fund II

$26M

2

7/31/2020

Elevate Innovation Gap Fund

$99M

10

8/31/2016

Elevate Capital Fund

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$99M

10

6/15/2016

Elevate Inclusive Fund

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10

Elevate Capital Fund II

10

Closing Date

1/26/2021

7/31/2020

8/31/2016

6/15/2016

Fund

Elevate Fund II

Elevate Innovation Gap Fund

Elevate Capital Fund

Elevate Inclusive Fund

Elevate Capital Fund II

Fund Type

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Status

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Amount

$26M

$99M

$99M

Sources

2

10

10

10

10

Elevate Capital Partners & Customers

2 Partners and customers

Elevate Capital has 2 strategic partners and customers. Elevate Capital recently partnered with Canopy on February 2, 2016.

Date

Type

Business Partner

Country

News Snippet

Sources

2/23/2016

Client

United Kingdom

Canopy selects Elevate Capital as a new fund manager for the Canopy CAPITAL program

This investment strategy , in tandem with a deep commitment to stimulating entrepreneurial activity , mentoring talent , investing in the region and supporting minority entrepreneurs in their selection process , makes Elevate Capital an appealing choice for a new partnership with Canopy CAPITAL .

3

8/7/2015

Vendor

Cyprus

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10

Date

2/23/2016

8/7/2015

Type

Client

Vendor

Business Partner

Country

United Kingdom

Cyprus

News Snippet

Canopy selects Elevate Capital as a new fund manager for the Canopy CAPITAL program

This investment strategy , in tandem with a deep commitment to stimulating entrepreneurial activity , mentoring talent , investing in the region and supporting minority entrepreneurs in their selection process , makes Elevate Capital an appealing choice for a new partnership with Canopy CAPITAL .

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Sources

3

10

Elevate Capital Team

1 Team Member

Elevate Capital has 1 team member, including current Founder, Managing Partner, Managing Director, Nitin Rai.

Name

Work History

Title

Status

Nitin Rai

Founder, Managing Partner, Managing Director

Current

Name

Nitin Rai

Work History

Title

Founder, Managing Partner, Managing Director

Status

Current

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