In 2008, Dick Beedon, Amplifinity’s Founder, was working as an IBM sales representative pitching software solutions to doctors’ offices west of the Los Angeles area when he stumbled upon an idea that would evolve into a company shaping the referral automation software marketplace.
Like all great ideas, they start out small. Having met two pharmaceutical salesmen covering the same territory, Beedon offered them compensation in exchange for referrals that closed. In a year, Dick Beedon was IBM’s number one salesman on the West Coast.
“He had a vision,” said Larry Angeli, CEO of Amplifinity, “to take his referral marketing idea and transform it into an automated enterprise platform designed to help major brands execute highly successful referral strategies. It was immediately exciting.”
Since its inception, Amplifinity has raised more than $6.2 million in capital and grown quickly as a referral automation software thought leader, building upon early successes acquiring enterprise clients like ADT and DirectTV. RSVP was one of Amplifinity’s earliest investors, recognizing immediately not only the potential of the platform but also the talent of the personalities driving its growth.
Angeli joined Amplifinity in 2012, already having notched more than 25 years of executive experience growing companies in the enterprise technology marketplace.
“I fell in love with it right away. It gave me the opportunity to engage customers directly, and Dick and I really love talking to companies and evangelizing the incredible value proposition of the platform,” said Angeli. “And in just three years this whole market category has really blossomed.”
While Angeli credits a great deal of the company’s success to the true value in the software, RSVP’s role as investor and mentor has played no small part in the startup’s rapid growth.
“Paul, Spencer, and the RSVP team was right there, always supportive, always available,” said Angeli. “They have so much experience and value to give and they understand how to balance that support with the type of environment that fosters independence and creativity so their portfolio companies can be themselves.”
In April of 2014 Beedon was tragically struck with a life-threatening staph infection that would ultimately require 4 major surgeries to bring the Amplifinity founder back from the brink. Throughout those challenges, Angeli said Paul Vlasic and RSVP supported the company both personally and professionally.
“Dick was the life and soul of this business,” said Angeli. “It was a very difficult time and Paul was not only at the hospital supporting the family, he was guiding the board through the transition, protecting the integrity and culture of the company. He was right in the middle of it all.”
Angeli is bullish as ever about the future of Amplifinity. With their founder recovered and their growth continuing to build steam, Amplifinity is on schedule to generate more than $100 million in revenue in 2016. The energy necessary to sustain such growth, Angeli said, is just a part of the culture of RSVP.
“You never forget the people that help you get there,” said Angeli. “That’s why it has been so terrific working with Paul and Raymond, because they’ve been there every step of the way.”