Seizing Market Expansion and Reopening Opportunities with University Buyers
Interfolio is a higher-ed SaaS platform whose Faculty Information System helps universities with the hiring, management, and promotion of their faculty and academic personnel.
Interfolio, backed by 2018 investments from the New York-based venture capital and private equity firm Insight Venture Partners, developed a series of successful products in academic recruitment, faculty reporting, academic dossiers and more, but they had reached their saturation point in the market. If they wanted to expand their footprint among higher education institutions, they needed new products and services.
3Pillar worked with Interfolio to seize their market expansion opportunity by helping them conceptualize and build Interfolio Lifecycle Management, a new software product licensed to universities. The product, which gives higher education administrators visibility into scholarly appointments and advancement, expanded Interfolio’s platform of faculty-centric solutions. Lifecycle Management was a winning investment for universities. It provided the faculty and staff a better way to track career milestones and gave the university administrators an easily manageable and accessible roster of full-time and part-time academics, faculty profiles and career trajectories.
“We are fortunate to work with exceptional faculty and as administrators it is our duty to ensure their academy experiences are positive and enriching from the very first day they join our campus until the day they retire. Having a system that supports the professional pathways of an active and diverse faculty (i.e. tenure-track, tenured and adjunct) is an administrative feat! With Interfolio Lifecycle Management, we see the possibilities of bringing together all of the facets of a faculty member’s journey—from their initial hire, through review(s), as they take on administrative and service appointments, take leave, apply and achieve tenure and promotion and other milestones. When all of these paths come together, under a single system, it is not only powerful but a long-needed investment in the success of our faculty. More simply, when our faculty succeed, our students succeed—and isn’t that the ultimate goal? As administrators, we strive to support our scholars in every facet of their professional journeys and Lifecycle Management stands ready to provide a systematic architecture to help us do exactly that.”
Alyssa Kupka, Chief of Staff/Senior Associate Vice President, DePaul University
“Managing faculty events can be challenging. Knowing the intricacies of who is reviewed, when, and for what action is time consuming and cumbersome. The value of Interfolio Lifecycle Management is in its ability to help us track our faculty on different contracts and different review cycles easily and efficiently.”
Aneesa Anne McDonald, Faculty Affairs Specialist, University of Wyoming
Lifecycle Management gave Interfolio the opportunity to reopen conversations with university buyers who had previously not used their services, and allowed them to increase spend from current university clients. In 2020, 16% of new or expansion software license dollars for the Interfolio offerings have come from Lifecycle Management license purchase.