Contractor payroll platform Wingspan has raised $24 million in Series B funding led by Touring Capital, bringing its total funding to $54 million since its launch. Other investors that participated in the round include Andreessen Horowitz, Long Journey Ventures, Distributed Ventures, Company Ventures and 186 Ventures.
A news release shows Wingspan has grown its customer base by 200 percent over the past three years and has processed over $3 billion in payments, highlighting the rising demand for tools to manage the expanding contractor workforce.
“From day one, we knew the real problem existed at the intersection of company and contractor. We strategically started by building for freelancers — learning their pain points around income, benefits and taxes — then leveraged those insights to create the comprehensive platform that businesses desperately need. We’ve now completed the circle with the only solution that truly works for both sides,” Anthony Mironov, CEO of Wingspan, said in a statement.
Alongside the funding, Wingspan also announced the launch of Wingspan Embed, a new tool that allows HR platforms to integrate features like contractor onboarding, tax automation and payments with financial services such as tax withholding and debit cards.
