Company launches its 200th customer as it enters 2023
InfoReady, providing its software to universities and colleges, medical centers, foundations, corporations, and government agencies around the world, enters 2023 with a strong momentum from setting new records for number of clients, revenue growth, volume of applications and employee headcount.
Miami University of Ohio becomes InfoReady client #200 in December.
Other higher ed institutions now served by InfoReady include Oregon State University, and Brown University’s Advance-Clinical and Translational Research.
Over 30% growth in annual recurring revenue (ARR) over the last 12 months while maintaining an extraordinarily high, near 100%, customer retention rate.
“We have captured 52% market-share of the largest university research market, which is a testimony to both the usefulness of our platform and our commitment to high levels of customer service,” said Bhushan Kulkarni, CEO, InfoReady. “Nearly 100% of institutions who become InfoReady clients stay year after year. We are grateful for the regular input our clients provide so we can continue to develop software that truly meets their needs.”
InfoReady’s users managed nearly 90,000 applications in the last 12 months.
InfoReady’s volume of applications and competitions has been growing rapidly because of its current clients’ demand to expand usage to other departments and units. “InfoReady’s software was developed as a tool to help universities manage internal grant competitions,” said Eric Jacobson, President, InfoReady. “InfoReady has grown dramatically as it is now used to manage scholarships, fellowships, seed funding, administrative approvals, and much more. Nearly every competitive decision-making business process or workflow can benefit from InfoReady’s automation and efficiency.”
Employee headcount grows by 25%
InfoReady supported its impressive growth by strategically hiring new workers from across the country while functioning as a fully remote workplace. InfoReady projects accelerating ARR in 2023 and recruit more employees.
InfoReady’s software allows administrators to create applications, to set up automated routing for review, and to track and consolidate information for reporting. It happens all in one cloud-based environment without the need for IT support.
As an Ann Arbor SPARK client since 2010, InfoReady™ benefited from SPARK’s business accelerator grants supported by the Ann Arbor/Ypsilanti SmartZone Local Development Finance Authority (LDFA). These grants helped cover the costs of sales and marketing efforts. InfoReady recently participated as a host for the MI STEM Forward internship program and is a six-time FastTrack award winner. Bhushan Kulkarni, CEO, is a former Ann Arbor SPARK board member.
InfoReady is a SaaS platform solving workflow challenges associated with promoting application opportunities, processing applications, routing and review processes, and sharing results for higher education, corporations and other organizations. Its software is simple to configure (no IT support needed), easy to use and provides insights to enhance outcomes. InfoReady is widely used across higher education campuses to manage competitions and opportunities for funding, awards, approvals and much more. A privately held corporation, InfoReady consistently deploys its capital to grow in the most efficient manner. Learn more at inforeadycorp.com.