Houston innovators podcast episode 129
Houston innovators find 'perfect storm' for fintech and marketing platform
Phil Sitter saw fast growth and adoption from his restaurant rewards platform he founded in 2019, but when the pandemic hit, he had to go back to the drawing board to find a growing industry that needed to be disrupted by his technology. And he did.
Sitter, a Houston restaurateur, originally founded VIPInsiders to help his restaurants — and later, licensing the technology out, other Houston eateries too — reward loyal patrons who continue to come in. However, in 2020, Sitter considered a pivot.
"We realized the restaurant industry may never be the same, and we asked ourselves who could be an ideal client," Sitter says on the Houston Innovators Podcast.
This pivot ended up creating RepeatMD, a customizable marketing and fintech platform focused on the aesthetics industry, which includes plastic surgeons, dermatologists, etc.
Sitter, who serves as the company's CEO, says once he dived into learning about the industry, he found out these types of business are seeing incredible growth following the pandemic.
"They call it the 'Zoom boom' — everyone saw themselves on Zoom daily and decided to invest in themselves and their facial treatments." says Chris Chomenko, vice president of sales for the company.
"And they had the time," Sitter adds. "When you think about aesthetic procedures — whether its invasive or non-invasive, it takes time for recovery."
After initially branching out into the field, Sitter says they are now onboarding up to 200 new locations a month, providing med spas around the world the ability to reward returning customers, as well as inform them on the breadth of options the facility offers. RepeatMD has expanded its team to 50 people and is eyeing seed funding this summer.
"Some things had to work out perfectly in order," Chomenko says, "for this perfect storm of perfect timing. Whenever you talk about entrepreneurs and how much of it was luck and how much of it is hard work, we really have attribute a lot of our success to being there with the right idea, in the right place, at the right time."
Sitter and Chomenko share more about the future of RepeatMD on the podcast episode. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.