NEW YORK, March 16, 2023-- Wingspan, a leading payroll and benefits platform specifically designed for flexible workforces, announced today that it has secured $14 million in Series A funding. This latest round, led by Andreessen Horowitz, brings the company's total capital raised to $23.5 million. Existing investors such as Distributed Ventures, Long Journey Ventures, Ludlow Ventures, and 186 Ventures also participated, along with founders from Warby Parker, Harry's, Allbirds, TubeMogul, and Catalant. The newly acquired funds will be used to expand Wingspan's team and further develop its innovative platform, which already serves tens of thousands of independent contractors.

As the gig economy continues to grow and more companies increasingly rely on independent contractors to scale their operations, managing payroll and benefits for this workforce presents significant challenges for both employers and workers. Wingspan aims to address these issues by offering a comprehensive and scalable solution that simplifies the onboarding, payment, and support processes for contractors. According to the company, the platform typically saves companies $240 per contractor and 10 hours per week.

One in every three American workers is now an independent contractor, contributing over a trillion dollars annually to the nation's GDP. Despite the expanding gig economy, there remains a lack of integrated systems to streamline the relationship between businesses and their contractor workforces. Wingspan seeks to eliminate administrative inefficiencies for both parties by automating payment, benefits, and tax-related workflows. This approach allows companies and contractors to focus on their core business operations and creative endeavors.

Lisa Zeeveld, CFO of BELAY Solutions, a fully remote virtual staffing solutions company, praised Wingspan's transformative impact: "Wingspan has become the critical workflow engine to streamline the process for fast payments and efficient onboarding of contractors, which is a competitive advantage in today's changing labor market."

Launched in 2019, Wingspan aims to remove barriers for self-employed workers and facilitate seamless collaboration between businesses and their contractor networks. The platform currently serves over 20,000 members and hundreds of enterprise clients, with projections to surpass $1 billion in contractor payments by year-end.

Andreessen Horowitz's General Partner David Ulevitch, who recently joined Wingspan's Board of Directors, expressed confidence in the company's future: "We are proud to be investors in Wingspan as they use this round of capital to rapidly scale the business to meet the needs demanded by today's workplace."

About Wingspan:

Wingspan is the premier payroll platform for independent contractors, designed to support a flexible workforce in today's evolving economy. Co-founded by Anthony Mironov and Greg Franczyk, Wingspan empowers businesses with the tools to efficiently manage contractors at scale, ensuring timely payments, access to benefits, and simplified onboarding. With backgrounds in financial services, small business payroll and benefits, and platform engineering, Mironov and Franczyk have revolutionized the way companies support the modern workforce. Learn more at https://www.wingspan.app/