ANN ARBOR ? Amplifinity, which makes social networking an advertising vehicle, has landed another $1.5 million in venture capital, bringing the total raised since the company was founded in 2008 to about $6 million.
Amplifinity helps companies maximize their referral systems. The company, formerly uRefer, rebranded late last year. Amplifinity’s software allows people to upload video testimonials and other similar services where companies can capitalize on Internet advocacy through channels like social media. The new venture capital will allow Amplifinity to create new features for its advocacy management platform.
?We?ve morphed from refer a friend program to more of a platform that manages all kinds of social programs,? said co-founder Richard Beedon, a long time serial entrepreneur and investor. ?In a general sense, we?re a more a strategic product for the enterprise. ?
In a nutshell, Amplifinity is a tool a sales team can use to ask clients or third party partners to give them leds.
?We then process them and integrated the leds into SalesForce.Com and track the leds and outcomes,? Beedon said. ?The market is forming around us. They know they have to leverage this channel. The old advertising is dead. Social media is the new advertising channel.?
Amplifinity has also been expanding its staff, hiring four people. The downtown Ann Arbor-based company now employs 15 people and an intern and is looking to hire two software developers now.
