Funding Interfolio’s Innovation

Company news

Interfolio has just raised an important round of growth funding led by education sector specialists Quad Partners. We’re making ByCommittee an even more effective platform to help faculty focus on their core mission.

Today we’re announcing a groundbreaking step for Interfolio: we’ve successfully raised an important round of growth financing led by Quad Partners, a seasoned private investment firm focused exclusively on companies serving education. This capital will be instrumental in growing academic decision support and institutional workflow software into its potential as a transformational tool for colleges and universities. You can read more about the fundraising here.

The academic community has been responding to Interfolio’s ByCommittee technology in super positive ways.  The trend is clear—namely, that given how important faculty are to both the bottom line and core values of a university, institutions are beginning to invest in faculty-facing technologies that make it easier for faculty to focus on their core mission.  Because of this trend, Interfolio has been growing faster than we ever thought possible.

In case you need a refresher, our ByCommittee platform is currently made up of two modules to support institutions in making complicated, important academic committee decisions: Faculty Search and Promotion & Tenure. Our Faculty Search module came about first, after we’d heard from school for years that they were hungry to find the right software to handle their faculty job applications. Next, after a lot of conversations with our existing network of scholars, we developed the Promotion & Tenure module to streamline the sequential, confidential review required when a career academic is up for promotion. If you’ve ever been involved in an academic promotion process, just take a minute to watch this video and see how ByCommittee can transform tenure at your institution.

Based on what we’ve heard from schools nationwide, there is a need to fill even more critical gaps around universities’ strategic decisions about recruitment, tenure, and professional service. This strategic capital investment from Quad Partners will help us continue to evolve our technology to do just that.

“We look for higher education technology companies that have strong traction in solving large problems with opportunities for accelerated growth,” said James Tieng, a Principal at Quad Partners. “Interfolio is poised to both define and lead the market of academic decision support software and faculty focused technology in higher education.”

And over the past 16 years, we’ve built up a substantial user base across higher education that attests to the serious need for thoughtful technology to support academic careers. The Interfolio user network encompasses not only working scholars, but recommendation writers, senior administrative officers, department staff, and career centers.

“We’re on a mission to build innovative tools that seamlessly fit into the lives of the academic community and help them effectively accomplish their day-to-day and year-to-year work,” says our President and Chief Product Officer, Steve Goldenberg.

“With all the investment and innovation that has occurred in education technology, one particular group has been left behind: faculty,” said Andrew Rosen, CEO, Interfolio. “Our focus is building software that makes faculty life easier and more productive. Faculty will be able to focus on both teaching and research and our software will help them take care of everything else.”

We’ll be saying more over the next few months about how we expect this new technology to further transform the higher education market, so stay tuned.