Industry News

QCA Invests in Death-care Industry SaaS Provider CRäKN

CINCINNATI – Queen City Angels has announced an investment in CRäKN, a cloud-based software solution for the death-care industry. The company’s software-as-a-service enables funeral home operators and related suppliers to benefit from the cloud for various business functions, including enterprise resource planning and customer relationship management, which will enhance their ability to manage, track and optimize the funeral process for families.

According to a press release announcing the investment, CRäKN plans to use the QCA investment to add new team members who will help take the company’s technology solutions to a broader market.

“For CRäKN, raising money in our own hometown was important to us,” said Scott Mindrum, president and CEO of CRäKN and QCA member. “We have received tremendous support from multiple QCA members since inception of our company, from financial modeling and information technology to marketing. They keep us in the loop for opportunities and events in the community, and have shared our story with other investor organizations outside the city to help us raise the capital we need. We are also fortunate to have ongoing board support from QCA members Terry Wright and Steve Baggott as we move forward. Both of them bring extensive sales and marketing experience to our team.”

Mindrum added, “There has never been a better time to start a business in the Cincinnati/Northern Kentucky area than right now. The resources are vast, and most are there for the taking. We are tenants at HCDC, members of Cintrifuse and raised capital from QCA, so we speak from experience.”

Both CRäKN management and QCA investors recognize opportunities for other technology offerings that the company can provide through strategic partnerships, third-party integrations, new feature "bolt-on" services and analytics. In addition, while the death rate is projected to double in the next twenty years, attendance and graduation from the nations 59 accredited mortuary programs are significantly down from historical levels. As a result, funeral directors will increasingly need to do more with less. Solving this industry challenge is part of CRäKN’s vision.

“We are excited to have CRäKN as one of our portfolio companies for a number of reasons,” said Wright. “There is nothing like CRäKN in our investment profile, and the management team is unique with its strong background and connections in the death care industry. Senior members of the CRäKN team have extensive backgrounds in providing cloud-based software solutions specifically to this vertical market. The combination of a strong technology, focused market, experienced team and early success gave us great confidence in the potential for CRäKN to quickly become a local success story.”

CRäKN is a Software-As-A-Service business solution for the death-care industry.CRäKN streamlines how funeral professionals manage, track, and organize their entire operation with easy to use tools that automate routine business and accounting processes. To learn more, visit www.crakn.net.

Posted Aug. 17, 2017


 
























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