Ann Arbor software firm InfoReady has been ranked No. 313 on the Inc. 5000 list of the fastest-growing private companies in the United States.
The company, which was founded in 2010 as a spin-off of GDI Infotech, had revenue of $2.1 million in 2016 and showed three-year growth of 105 percent.
InfoReady president and CEO Bhushan Kulkarni says the company originally focused on a product called InfoReady Review that helps universities streamline the grant application process. However, universities started using the software for other workflow applications, and Kulkarni says that's where "the growth really occurred."
The company recently added another product, InfoReady Thrive, which helps universities create a marketplace or one-stop shop for opportunities ranging from scholarships to fellowships to study-abroad programs and internships.
InfoReady had six customers in the first year of launching the product, and grew its customer base to 18 in the second year. By the end of the third year, Kulkarni says he expects to have about 100 customers coast-to-coast across the U.S.
InfoReady currently has a staff of about 20, but Kulkarni expects that to change.
"We're having natural employee growth to support the product," he says. "We need marketing staff and salespeople, and we expect that over the next year we'll be expanding our marketing department."
Kulkarni says InfoReady's products are appealing because they aggregate all opportunities on one site. The platform helps administrators put out the word about these opportunities and target faculty who can then target students who would be a good fit.
"It has become a platform for student engagement, success, and retention," Kulkarni says. "All this information is in one place, instead of having to visit 100 different sites to see what is available."
Kulkarni also notes that the platform is easy to implement and use, requiring little effort from university tech departments.
"Most of our growth is happening because we are providing the tools and product customers can use quickly and expand and scale their programs quickly with the help of technology," he says. "The ease of use and the fact that it requires no training is what's driving the growth."
Sarah Rigg is a freelance writer and editor in Ypsilanti Township. You may reach her at firstname.lastname@example.org.
Photos courtesy of InfoReady.