HPA has been in existence since April of 2007, and actively began making investments in August of 2007. One of our early investments was a cutting edge commercial construction communication network called Gradebeam. Few could forecast the financial melt down of October 2008, and the melt down in commercial real estate as well.
HPA Announces An Acquisition, It’s First!
But Gradebeam stuck to it. Credit their CEO Bryan Jurewicz for keeping Gradebeam moving along. HPA angel Doug Monieson served on the Gradebeam Board of Directors, and did a lot to help the company. Many other Hyde Park Angels pitched in when the company needed or asked for our help. In one of the most challenging financial environments that we have ever seen, Gradebeam soldiered on.
Today we are happy to announce that Gradebeam has been acquired by Textura Corporation. The terms of the deal are not public, but HPA is excited for Gradebeam and it’s employees. We are also happy for our organization. Our student associates helped us screen the deal when it first came in. Our Screening Committee worked through the deal and we presented Gradebeam at our December 2007 meeting. Gradebeam’s exit helps us validate our process.
Here is a link to the press release. Let’s raise a glass of champagne and toast Gradebeam and Textura on a job well done. We are looking for big things from you guys in the future.
HPA has plenty of great companies left in its portfolio. Why not take a look at them and see if you can become a customer?