High Alpha portfolio company acquired by Minnesota firm
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Structural Inc., an employee-engagement software company launched by Indianapolis venture studio High Alpha in 2017, has been acquired by St. Paul, Minnesota-based Augeo Affinity Marketing Inc.
The acquisition closed on Saturday. Augeo declined to disclose financial terms of the deal.
Structural is based in St. Paul and has just over 20 employees, half of whom are Indiana-based. The acquisition brings Augeo’s total head count to about 400. All of Structural’s employees were retained in the acquisition, an Augeo spokesman said.
Structural will now operate as “Structural, an Augeo company.”
“Joining forces with Augeo will enable us to quickly elevate our growth,” Structural Founder and CEO Scott Burns said in a written statement.
The companies described the acquisition as “the culmination of a multi-year partnership between the two companies.”
Structural’s platform organizes data from different systems into a “people directory” that makes it easier for people within an organization to connect with one another. An employee working on a project, for instance, could use Structural to identify colleagues with needed skills or experience.
Augeo offers loyalty and engagement platforms that customers can use to connect their employees, consumers, members and partners.
Structural is one of High Alpha’s oldest portfolio companies: High Alpha itself was formed in 2015 and the venture studio had launched only four other companies prior to Structural: Sigstr, Clear Scholar, Zylo and Doxly.
To date, High Alpha has launched 27 companies. Three others, Octiv, Lessonly and Visible, launched prior to 2015 and were grandfathered into High Alpha’s portfolio.