YouEarnedIt is putting its recent investment by Vista Equity Partners to work by acquiring a Chicago startup.
Austin-based YouEarnedIt, which lets companies provide employee recognition and rewards, said it has purchased HighGround, a human relations software company.
In an announcement on Thursday, the companies said the partnership would help both grow their businesses as they gradually integrate their software to create a “unified employee-first engagement platform.”
YouEarnedIt and HighGround said they will continue to operate as individual companies.
Financial terms of the deal were not disclosed.
In April, YouEarnedIt received an undisclosed strategic investment from Vista, a $31 billion private-equity firm based in Austin.
Prior to that, the 90-person company raised $7.9 million from investors including Silverton Partners, IDG Ventures USA, Motley Fool and Capital Factory.
Founded in 2013, YouEarnedIt operates a platform that lets employees receive digital points from peers to reward them for behavior that generates revenue or reaches other workplace goals. Points can be redeemed for items or activities offered by the company.
HighGround, founded in 2012, makes software used by companies for coaching and employee evaluations. The company, which has 80 employees, has raised more than $19 million from investors including Method Capital and Lightbank.
“Together we will continue to deliver on our promise to enable customers to build winning cultures, engaged teams and stronger business results by putting people first,” said Autumn Manning, co-founder and CEO of YouEarnedIt.
As part of the acquisition, Manning will serve as CEO of the combined organizations and Harris will serve as president.
News on Open Source is free and unlimited. Access to the rest of 512tech.com comes with an American-Statesman digital subscription, which also includes myStatesman.com and the ePaper edition. Subscribe at statesman.com/subscribe.