Reykjavík, Iceland The Icelandic bootstrapped startup CrankWheel has acquired all assets of the Danish startup Accordium. The acquisition (price undisclosed), includes technical infrastructure and intellectual property as well as the Accordium brand and customer base.
CrankWheel has focused on providing a screen-sharing solution that requires no installation for the viewer. Accordium has simplified the process around electronic signatures and developed a video solution that enables users to personalize their sales emails and landing pages.
STRENGTHENS CRANKWHEEL’S GLOBAL GROWTH
The acquisition expands the product range and service to over 50.000 CrankWheel users in six continents. The acquisition further strengthens growth which accelerated during the global pandemic when companies accelerated the move of in-person communication to virtual platforms. This trend is expected to continue post-pandemic with the hybrid office bridging the gap between working from home and at the office.
ADDS E-SIGNATURE AND VIDEO SALES ENGAGEMENT SOLUTIONS TO THE PRODUCT LINEUP
“The global pandemic kick-started and accelerated the digital transformation of most industries. With the acquisition, we can further help our customers’ salesforce become even more effective and efficient by using digital solutions. Now we can offer a product range for the entire sales funnel; making the first cold email communication more personal, making calls visual and engaging and making the signature process simpler and more efficient,” says Jói Sigurdsson, Founder and CEO of CrankWheel
COVID HAS ACCELERATED DIGITAL TRANSFORMATION IN SALES AND VIRTUAL SELLING
“Our customers, that started using CrankWheel because of the pandemic, have seen how effective our solution is. The pandemic-related growth will not evaporate since they have seen the success rate. Their salesforce will use a hybrid approach with meeting customers virtually as well as in person. The addition of Accordium to our product line will help us on our quest to make the sales cycle shorter, easier and simpler for our clients,” adds Gilsi Sigvaldason, co-founder and CRO of CrankWheel.
About CrankWheel: CrankWheel is a bootstrapped startup, based in Iceland. It was founded in 2015 by Jói Sigurdsson and Gilsi Sigvaldason, childhood friends from Akureyri in Northern Iceland. Jói worked for 10 years at Google’s Montréal office before moving back to Iceland to found CrankWheel with Gilsi, who had a wealth of experience in sales of insurance and finance solutions. Their different backgrounds are the pillar of CrankWheel; Jói was a tech lead at Google working on technologies such as the Chrome browser and WebRTC, whereas Gilsi had on multiple occasion driven hours simply to show a customer his laptop screen. The result was an application that allows salespeople to share their screens in real-time with customers during a sales call. www.crankwheel.com
About Accordium: Accordium was founded in Denmark in 2016 by ex-Trustpilot employees. The purpose was to shorten the sales process by making contracts easier to sign with electronic signatures. Following that, they developed a video marketing tool to make emails more personal. www.accordium.com