Founded in 2002, Sorenson Capital is a private equity firm that specializes in middle-market buyout and growth equity investments. With more than $1 billion in capital under management, Sorenson is the largest private equity firm based in Utah.
Tackling the adoption problem
Sorenson is committed to building strong, long-term relationships with its potential targets and portfolio companies. Looking to better manage its relationships, Sorenson tried adopting several different solutions over the years (including private-equity focused CRMs, Salesforce, Salesforce consultants, etc.). Despite all the effort, adoption was lackluster and each initiative eventually failed.
Ultimately, Sorenson turned to Affinity for its auto-populating capabilities, intuitive platform, and ease-of-use. The results have been transformative. Affinity is now ingrained in the team's daily workflow and is used to manage both inbound and outbound sourcing. The team estimates that it would need to spend 5+ hours per week per person to manually input the information that is automatically surfaced through Affinity.
“Affinity has become a daily tool that is ingrained in our workflow. I get a richness of data that didn't exist before. When I am connecting with someone, knowing if anyone at my firm already has a solid relationship or has recently connected with them is key. It enables us to be able to move fast in the same direction without stepping over each other.”
Strengthening relationships and retaining brand equity
Before adopting Affinity, Sorenson’s relationships were a black box. It was too easy for team members to step on each others’ toes because there was a lack of transparency and historical context of existing relationships.
With Affinity, the team has been able to leverage long-standing relationships at the senior level and democratize them without manual input. There's less duplication of work. Team members can instantly understand who knows who and who has the strongest relationships. This has led to better firm coordination and stronger relationships with potential targets and portfolio companies.