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Highlights

 

Welcome to another episode of Category Visionaries — the show that explores GTM stories from the tech’s most innovative B2B founders. In today’s episode, we’re speaking with Anthony Mironov, CEO and Co-Founder of Wingspan, a payroll platform purpose-built for contingent work that has raised $30 Million in funding.

Here are the most interesting points from our conversation:

  • Anthony’s Background: Anthony shared his journey from private equity, focusing on payroll and benefits, to founding Wingspan. His experience in evaluating investment opportunities and a successful sale to Paychex provided him with deep insights into the payroll sector.
  • Founding Wingspan: Motivated by the administrative burdens on companies and freelancers in the gig economy, Anthony, leveraging his experience as an independent consultant, founded Wingspan to tackle these challenges.
  • Investor Confidence: Wingspan’s vision attracted investments from prestigious firms and notable founders, signaling strong investor belief in its potential to revolutionize freelance work administration.
  • Market Validation: Anthony observed early signs of the freelance work trend, which COVID-19 accelerated, reinforcing Wingspan’s mission to update the outdated system of record for freelance work.
  • B2B Focus Shift: Initially a direct-to-consumer model, Wingspan pivoted to a B2B focus upon realizing the scalability challenges of the former approach. This strategic shift targeted companies built on contingent work, leading to Wingspan’s scalable success.
  • Vision for the Future: Anthony envisions Wingspan becoming a leading financial services company for the professional services market, aiming to create a unified platform that simplifies the complexities of working independently.

 

Actionable
Takeaways

Embrace Your Expertise to Identify Market Gaps:

Anthony's transition from private equity to founding a payroll platform underscores the value of leveraging one's background to spot underserved market niches. Founders should mine their past experiences for unique insights into industry pain points.

Adapt to Market Changes Swiftly:

Wingspan's pivot from a B2C to a B2B model highlights the importance of agility in startup strategy. Be ready to shift your approach based on market feedback and scalability considerations to better meet customer needs and ensure growth.

Build on Strategic Investor Relationships:

Securing investment from notable firms and industry pioneers not only provides capital but also lends credibility. Cultivate relationships with investors who share your vision and can contribute beyond funding, through mentorship and network access.

Market Validation is Key:

Anthony's belief in the freelance trend, even before it became mainstream, emphasizes the need for founders to trust their insights while seeking validation through market trends and customer feedback. This foresight can position your company ahead of the curve.

Focus on Customer Success Stories:

In crowded markets, authentic customer success stories can differentiate your company. Invest in creating an excellent user experience that customers want to share, using their testimonials to build trust and attract new business.

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