15 Apr 2019
Akkroo to integrate in US acquisition
Alumni Chris Wickson and Andy Higgs founded Akkroo, a mobile marketing technology business in 2013. On 4 April 2019, they announced a $34 million (US dollar) acquisition by Phoenix based Integrate Inc.
Akkroo, which provides software for B2B sales and marketing teams who exhibit at events, has been acquired by the American company. This is Integrate’s second acquisition in six months, and their existing customers include Microsoft and Adobe. They view Akkroo’s software and team as a key part of their future strategy.
Akkroo has spent the last five years developing an innovative way to capture and process leads generated at tradeshows and exhibitions in real-time. It enables faster follow-up with visitors and sales leads, accelerating revenue generation and enabling companies to explicitly review their return on investment for the first time.
Trade shows, exhibitions and business events are an important part of modern business-to-business marketing and yet for many organisations, it can take weeks to process and follow-up on the sales leads generated. The software offered by Akkroo drastically shortens the follow-up time as leads are passed straight into back-office databases and marketing software such as Salesforce.
With 50 staff at Akkroo, the business has doubled its revenue every year since the company was founded. Working with global customers, including organisations such as IBM, Johnson & Johnson and Avalara, the software has collected over 5 million leads from over 12,000 events.
Chris and Andy founded Akkroo a few years after leaving Loughborough. They had collaborated for several years prior to this. Chris, along with fellow students Oliver Sidwell (Geography and Business Management 2007) and Alastair Lindsay (Accountancy 2007) won the Loughborough University Business Plan Competition in 2007. Together they spent their £1,500 prize money with Andy, who had recently established his own web design and development firm, to form UK undergraduate jobs and reviews website, RateMyPlacement.
Fast forward to 2011 and the team saw a new opportunity to collaborate on software to replace manual methods of data capture. This was a problem that the on-campus team at RateMyPlacement were regularly encountering as they visited careers fairs across the country, signing up students to mailing lists. This mobile software was eventually spun out as an independent business, and officially became Akkroo in 2013.
The team at Akkroo also includes another two alumni, Daniel Currin (Industrial Design & Technology 2006) and Andrew Byford (Economics, 2007) who are the Head of Account Management and Account Executive respectively.
Chris Wickson graduated in 2007 with a degree in Management Sciences and Andy Higgs graduated in 2006 with a degree in Industrial Design and Technology.
Congratulations to the alumni on their success.
Read Chris’s thoughts on the acquisition online.
Pictured: Chris Wickson (CEO of Akkroo), Jeremy Bloom (CEO of Integrate), Andy Higgs (Chief Product Officer at Akkroo).
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