Chicago-based human resources software startup HighGround has been acquired by YouEarnedIt, another HR software company based in Austin.
The companies announced the acquisition Thursday, saying that the partnership will help both of them grow their businesses as they gradually integrate their softwares to create a "unified employee-first engagement platform." Terms of the deal were not disclosed, but YouEarnedIt and HighGround said they will continue to operate as individual companies.
HighGround, which was founded in 2012 by Vip Sandhir, makes a workplace engagement platform that gives HR managers a way to provide meaningful, ongoing coaching sessions to employees in real-time. In 2017, Sandhir stepped down and Andee Harris replaced him as CEO.
In 2016, the startup raised $7.6 million, bringing its total VC funding to nearly $18 million, according to Crunchbase. Its investors include KDWC, Columbus Nova Technology Partners and Lightbank. HighGround employs 70 people.
YouEarnedIt, which launched in 2013 and employs 90 people, makes a platform that rewards employee behavior which generates revenue or reaches other workplace goals. The startup, which recently received an undisclosed strategic investment from Vista Equity Partners, a $31 billion private-equity firm, says it has more than 400 organizations using its software.
“As we expand our platform to better serve the needs and desires of employees to more deeply engage and have a direct impact on the bottom-line of their organizations, partnering with HighGround to deliver real-time performance management and engagement was a natural next step,” said Autumn Manning, co-founder and CEO of YouEarnedIt, in a statement.
As part of the acquisition, Manning will serve as CEO of the combined organizations and Harris will serve as president.
This is the latest Chicago software startup exit in a slew of acquisitions taking place this year. Earlier this week, Champagin, Ill.-based Agrible was acquired by agriculture company Nutrien for $63 million. And in June, LearnCore was acquired by Belgium-based sales enablement platform Showpad for $50 million.
