(Photo by Flickr user n e o g e j o, used under a Creative Commons license)
Interfolio, the Farragut North-based company that makes “decision support software” for scholars in higher ed, announced on Monday that the company has secured $12 million in institutional financing.
Unlike many other edtech companies that focus on the student learning experience, Interfolio wants to make life easier for faculty. As CEO Andrew Rosen puts it, using Interfolio’s tools “faculty will be able to focus on both teaching and research and our software will help them take care of everything else.”
The financing was led by Quad Partners, a private investment firm that invests exclusively in the education industry. “Interfolio is poised to both define and lead the market of academic decision support software,” James Tieng, principal at Quad, said of his new investment.
The money will be spent on strategic growth — namely, improving already existing services while at the same time developing select new tools.