Location: New York, NY
Industry: Technology, financial services
President and CEO
ADDRESSING THE CHANGING ECONOMY
LiftForward, Inc. helps companies convert products into services. “Consumers and companies no longer want to own assets — they prefer to pay a monthly fee and upgrade frequently. To put it another way, the world now wants subscription services for the goods and services that people use every day,” says Jeffrey Rogers, president and CEO of LiftForward. “While some companies have been able to adapt to the change and startups are addressing some of the demand, the vast majority of the economy is still using old-world methods to deal with delayed payments. As I contemplated these changes in the world, I started to build a model of helping companies make that transition, and LiftForward was born.”
Quick Tip: “A company without a vision and plan to get there will not scale significantly.”
The most significant factor in LiftForward’s success was “the development of a vision and plan that added value to the financial technology community,” says Rogers. “Once the vision was defined, product development was key to getting to market in a timely fashion [and] attracting capital.” At the same time, LiftForward’s growth was propelled by its ability to attract highly skilled engineers and finance executives. “We could not be where we are today without the quality of the team,” says Rogers. LiftForward experienced significant growth in 2016. Over the next five years, the company’s subscription-management solution will be integrated into a few additional major manufacturers and distributors.