Company Helps Developers and Independent Power Producers Unlock Solar
Projects with Smarter, Faster, and More Cost-Effective Solutions, Welcomes
Piva Capital as Investor 

OAKLAND, Calif., July 29, 2025 — Planted Solar, the solar deployment platform helping project developers build faster, smarter, and more profitably, today announced a $12 million funding round anchored by Piva Capital, with participation from existing investors Breakthrough Energy Ventures, Khosla Ventures, and Team Builder Ventures. This investment comes at a critical juncture as the U.S. solar industry grapples with unprecedented demand and increasing deployment challenges. 

Solar Demand is Surging but Deployments Can’t Keep Up

U.S. demand for clean energy is skyrocketing—84% of new power capacity added in 2024 came from solar and storage—but the industry’s ability to keep pace is faltering. At a time of record growth, developers face land constraints, soaring costs, and execution challenges that are slowing project timelines, shrinking viable pipelines, and delaying urgently needed capacity.

Enter Planted:  Rethinking How Solar Gets Built

Traditional solar deployment remains too slow, costly, and fragmented—developers juggle dozens of suppliers, rigid hardware, and manual installation processes. Founded in 2020, Planted Solar was created to replace this outdated model with a fully integrated platform that streamlines every step of project delivery.

“We’ve seen the headlines, but the real story is happening behind the scenes,” said Eric Brown, CEO of Planted Solar. “Forward-looking developers are still moving, and we’re helping them move faster. We’re rethinking solar deployment to deliver what developers urgently need to build energy generation capacity today: less risk, better returns, and faster time to power. Piva’s deep experience with energy innovation and alignment with our vision of abundant and affordable energy make them an ideal partner as we scale to deliver the smarter approach that the solar industry needs.”

Here’s how it works:                                                                                                

• Smarter Digital Planning – Planted’s software replaces fragmented tools with a unified workflow that generates optimized layouts, energy models, and engineering drawings—feeding directly into field execution to accelerate timelines.
• High-Density, Terrain-Following Hardware – Planted’s arrays reduce land requirements by half and eliminate the need for costly site grading, unlocking new project sites that were previously infeasible.
• Rapid Installation Tools – Field robotics and simplified components enable faster builds with smaller crews, increasing labor productivity and minimizing errors in the field.

The result: developers can deploy solar projects twice as fast, with lower costs and less risk, while expanding pipelines and improving project economics in today’s challenging market.

Key benefits of Planted’s system include:

• 50% less land use compared to traditional solar
• Terrain-following arrays that unlock slopes of up to 27%
• 2x faster time to power, accelerating manufacturing and data center build-outs
• 70% less steel required, reducing material and logistics costs
• 30% lower cost of energy, enabling better returns for developers and investors

Partnering with Piva Capital to Deliver the Technology the Industry Needs Now

“Solar developers don’t have a decade to solve these problems—the crunch is happening right now,” said Mark Gudiksen, Managing Partner at Piva Capital. “Planted Solar’s platform clears some of the industry’s biggest roadblocks by making it faster and cheaper to get projects in the ground. This is exactly the kind of pragmatic innovation the energy transition needs.”

With the new financing, Planted Solar plans to accelerate the development of its digital and hardware solutions, expand deployment capacity, and forge strategic partnerships globally. The company is currently executing projects across the U.S., ranging from community solar installations to behind-the-meter systems for hospitals and infrastructure, while ramping up in international markets such as Asia-Pacific and Europe, where demand for land-efficient clean energy is surging.

About Planted Solar
Planted Solar is redefining solar deployment with an integrated hardware and software platform that pairs high-density, terrain-following arrays with automated installation. Planted’s smarter, streamlined approach helps developers, EPCs, and IPPs unlock more land, lower costs, and build projects in half the time—delivering stronger project outcomes and accelerating the delivery of abundant energy. Learn more at www.plantedsolar.com.

About Piva Capital
Piva Capital is a San Francisco-based venture capital firm investing in visionary entrepreneurs solving the world’s critical industrial challenges with breakthrough technologies and innovative business models. For more information, visit Piva.vc, or the company’s LinkedIn and Medium profiles.

Media Contact
Mary Magnani
CodePR
[email protected]

SOURCE Planted Solar

Ezee Fiber will create over 400 employment opportunities throughout the region, including construction personnel, installation technicians, sales, marketing, and community engagement associates. The company intends to establish a regional headquarters in Elk Grove Village, IL, and has already begun posting available positions.

“I’m proud to bring Ezee Fiber’s award-winning multi-gig internet service to Chicagoland. Residents and businesses will enjoy a significantly better internet experience driven by our advanced fiber internet and Wi-Fi 7 products,” says Matt Marino, Chief Executive Officer, Ezee Fiber.

“Our customers have honored us with a 4.9 Google rating and thousands of 5-star reviews. Additionally, Ezee Fiber has been recognized with PC Mag’s Fastest ISPs 2025 award and multiple Speedtest.net awards for outstanding speed and reliability. There are no term contracts, fees, or data caps. Our service includes transparent pricing and friendly, local customer service. Long wait times, outdated technology, confusing bills, pricing gimmicks, and frustrating customer service will be history for any new Ezee Fiber customers.”

“We’re thrilled to welcome Ezee Fiber to Chicagoland as we continue to prioritize modernizing infrastructure and expanding digital access for all residents,” David Pileski, Mayor of Roselle, adds. “Increased competition in the fiber internet market drives innovation, improves service, and delivers real value to our community. Whether you’re working from home, running a business, or just streaming your favorite show, this investment ensures Roselle stays connected and competitive well into the future.”

Greg Thomas, Senior Vice President and General Manager, Ezee Fiber’s Midwest Region, notes, “We are excited for residents and businesses across Chicagoland to soon enjoy our best-in-class, multi-gig fiber internet. This ambitious build targets more than 85 municipalities. Reliable and transparent fiber internet service is long overdue in these communities, and Ezee Fiber is committed to delivering it. Our expansion will provide future-proof connectivity to neighborhoods, condos, apartment buildings, master-planned communities, schools, small businesses, and large enterprises alike—backed by our dedication to simplicity, reliability, and exceptional local support. Residential customers will have access to multi-gig symmetrical fiber internet speeds up to 8 Gig, while business customers can expect dedicated enterprise-level speeds up to 100 Gig.”

Over the past 18 months, Ezee Fiber has announced major expansions, including a $200 million investment in Houston, a $250 million expansion in New Mexico, a $400 million expansion in Washington state, and its latest $400 million expansion into the Chicago metropolitan area. Additionally, Ezee Fiber recently announced the acquisition of Tachus Fiber Internet, a leading fiber optic ISP headquartered in The Woodlands, Texas.

Marino noted further expansions into additional U.S. states are planned throughout 2025 and beyond.

Residents and business owners can visit ezeefiber.com to learn more, check availability, and pre-register for service to be among the first to receive Ezee Fiber internet.

About Ezee Fiber

Ezee Fiber is a rapidly growing, Houston-based fiber internet provider delivering premium multi-gig service to residential, business, and government customers over a 100% fiber-optic network—at exceptional value. The company’s carrier-grade infrastructure spans Texas, New Mexico, and Washington, and is supported by local teams who live and work in the communities it serves.

Ezee Fiber’s industry-leading speeds, award-winning local customer service, and transparent pricing model set the company apart from the competition.

Learn more at www.ezeefiber.com

SOURCE Ezee Fiber

As healthcare providers and payers expand into more outcomes-based payment models, Arbital Health has developed a platform to reduce complexity and administrative burden while ensuring that all market participants can better monitor and improve their performance. Arbital Health’s platform is powered by its best-in-class actuarial team, which includes some of the most experienced value-based care experts in the country.

“Arbital Health has built something the healthcare industry desperately needs: the critical infrastructure that empowers payers and providers to reconcile their risk-based contracts with accelerated performance insights,” said Mike Spadafore, Managing Director at Valtruis. “By combining healthcare’s top actuaries with an advanced, AI-powered platform that automates complex actuarial workflows, Arbital Health is transforming how financial, and performance risk is understood and managed across the system. We’re proud to support their team as they drive growth, value, and better outcomes in healthcare.

Since its founding in 2024, Arbital Health has built its client roster to include more than 40 payers, providers, digital point solutions, value-based care enablers, and integrated delivery networks. In addition, Arbital has launched and onboarded more than 600,000 patient lives to its platform and assembled the most experienced value-based care actuary team to meet the growing demand to better manage complex risk-based contracts. Over the last year, the company has expanded strategic partnerships with organizations including HarmonyCares, Aligned Marketplace, Arkos Health, and Complete Health.

“Value-based care remains the most effective way to align financial results with better patient outcomes and build a more sustainable healthcare system. However, aligning on outcomes remains overly complex and healthcare organizations today lack the transparency, tools, and support needed to succeed,” said Brian Overstreet, Co-Founder, President, and CEO of Arbital Health. “Travis May and I founded Arbital Health to solve this challenge by building the critical infrastructure for the market, powered by leading actuarial expertise and AI-driven technology. By enabling our clients to better monitor, manage, and reconcile risk-based contracts, we’re helping them make smarter decisions, reduce financial risk, and improve patient outcomes. This new funding will accelerate our mission to transform how the industry manages value-based care.”

About Arbital Health
Arbital Health provides the critical infrastructure for providers and payers to successfully manage risk-based contracts. With the industry’s leading value-based actuaries and robust AI-powered platform, Arbital Health accelerates contract performance monitoring and decision-making, centralizes fragmented data, and automates contract reconciliation across all major risk models. By reducing complexity and administrative burden, Arbital Health ensures value-based care contracts deliver on their promise of better patient outcomes and sustainable financial performance. Arbital Health is led by a best-in-class team of healthcare actuaries, engineers, and industry veterans, and backed by leading investors Valtruis, Transformation Capital, Shaper Capital, and Healthy Ventures. For more information, visit arbitalhealth.com.

Contacts
Emily Poe | [email protected] 

SOURCE Arbital Health

Led by Insight Partners with participation from Andreessen Horowitz, funding will accelerate development of the widely adopted AI security testing solution

SAN FRANCISCO, July 29, 2025 — Promptfoo, the widely adopted open‑source framework for AI red‑teaming and security testing, today announced an $18.4 million Series A financing led by global software investor Insight Partners, with participation from existing investor Andreessen Horowitz.

Founded in 2024, Promptfoo is steadily gaining recognition as an emerging standard for robust AI security testing, with over 100,000 developers using its open source tools and adoption by more than 30 Fortune 500 companies. The platform helps developers and security teams secure large language models (LLMs) and generative AI applications by detecting and mitigating risks like prompt injection, data leakage, and insecure tool use. Its commercial enterprise solution, launched just a year ago, is trusted by leading retailers, telecoms, and financial institutions to securely deploy AI systems.

The funding comes at a critical point for enterprise AI adoption. As companies move beyond proof-of-concepts to production deployments, the complexity and risk profile of AI systems has grown exponentially.

“AI security has become the largest blocker to enterprises shipping generative AI applications to end users,” said Ian Webster, CEO and co-founder of Promptfoo. “Architectures like RAG, agents, and most recently MCP have expanded what’s possible with AI, but they’ve dramatically increased the attack surface.”

Promptfoo’s platform stands apart as one of the only AI-security solutions that closes the loop from discovery to resolution. It embeds automated red-team tests directly into the build and release process, pairs findings with clear, actionable remediation guidance, and feeds results into existing vulnerability-management workflows. This end-to-end automation—spanning attack objective generation, exploit search, and regression testing—gives security and engineering teams a single, continuous workflow for hardening today’s complex agentic systems, establishing Promptfoo as a leading choice for organizations aiming to deploy AI securely at scale.

“Promptfoo has created what we believe to be a category-defining product,” said Ganesh Bell, Managing Director at Insight Partners. “The layers of The Next Stack built around AI are clearly emerging beyond LLMs, and Promptfoo is a critical part of that evolution—especially in the race to enable intelligence-first design and secure Enterprise AI. Serious enterprises deploying AI will need comprehensive security testing, and Promptfoo’s combination of technical depth, open source adoption, and enterprise traction positions them perfectly to capture this massive market opportunity. We’re thrilled to partner with them as they help build the full AI security suite.”

The funding will fuel Promptfoo’s expansion as it moves to establish the industry standard for enterprise AI security. The company will scale its team and accelerate platform development to meet demand from Global 2000 companies seeking comprehensive solutions to secure their AI deployments.

“When we first invested in Promptfoo, we recognized that AI security would become mission-critical for every enterprise,” said Zane Lackey, General Partner at Andreessen Horowitz. “In just one year, they’ve validated that thesis and then some. This additional investment reflects our conviction that they’ll define how companies approach AI security for years to come.”

About Promptfoo

Promptfoo is the most widely adopted open source AI security testing platform, enabling enterprises to identify and remediate vulnerabilities in their AI systems before deployment. Founded in 2024, the company’s tools are used by over 100,000 developers worldwide, while its enterprise platform secures AI applications for Fortune 500 companies across retail, telecommunications, finance, and media. Learn more at [Promptfoo.dev].

About Insight Partners

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2024, the firm has over $90B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.

SOURCE Promptfoo

Funding led by Vertex Israel brings total raised to $20M, driven by rapid customer growth and strong demand for open source curation.

TEL AVIV, Israel, July 29, 2025 — Seal Security, a leading provider of application security solutions specializing in automatic curation of vulnerability-free open source components, today announced it has raised $13 million in Series A funding.

Seal’s platform addresses a critical market need to secure software supply chains and eliminate open source vulnerabilities. It provides production-ready patches that protect every layer of the software stack, from application dependencies and operating systems to container base images, without requiring version upgrades or complex migrations. Seal helps organizations keep their current environments secure and ensure future deployments are protected from the start.

Seal Security’s customer base has grown significantly, accompanied by substantial growth in ARR. To support this rapid expansion, the company has more than doubled its headcount over the past year.

“Modern development moves faster than ever, and traditional AppSec solutions can’t keep up,” said Itamar Sher, CEO of Seal Security. “At Seal, we believe the security of the code we build should be accelerated by LLMs, rather than having it exponentially grow our vulnerability backlog. This investment, along with the increased customer demand, validates the demand for our patching-first approach, empowering teams to automatically fix vulnerabilities, maintain compliance, and deliver secure software without altering their workflow.”

Organizations leveraging Seal Security achieve immediate, ongoing value by resolving critical vulnerabilities within hours or even minutes, significantly reducing security risks. Seal also commits to an industry-leading 72-hour CVE remediation SLA.

Seal Security replaces previously complex and intrusive solutions, directly tackling core challenges faced by Application Security, DevOps, DevSecOps, and IT teams, including vulnerability backlogs, dependency hell, legacy codebases, and rapid AI-driven development. Seal ensures secure deployment while maintaining compliance with standards such as PCI DSS, FedRAMP, DORA, CRA, NYDFS, and more.

The Series A round was led by Vertex Israel, with participation from More Investments, SBI Group, and CCL, bringing total funding to $20 million. This announcement follows a year of exceptional growth and continuous product innovation. The funding will enhance Seal Security’s go-to-market efforts and accelerate expansion of its core platform.

“Seal is emerging as the de facto remediation layer for open source and container environments, in a market that’s rapidly shifting from passive detection to automated, scalable remediation,” said Tami Bronner, General Partner, Vertex Ventures Israel. “Leading global cyber companies and highly regulated enterprises are already relying on Seal to eliminate vulnerability backlogs, maintain compliance, and secure even legacy systems without code rewrites or production disruptions. CISOs aren’t just adopting Seal; they’re embedding it into their core AppSec strategy. Seeing the depth of customer impact and the team’s ability to execute at scale, we’re proud to deepen our partnership. Seal isn’t just meeting the need, it’s shaping the future of secure software delivery.”

For more information, please contact: [email protected]

SOURCE Seal Security

Investment validates Reach’s domain-specific AI approach for exposure management; new ConfigIQ Drift™ module enables customers to define and detect drift across SaaS and On-prem environments.

SAN FRANCISCO, July 29, 2025 — Reach Security, the AI-powered assistant for operationalizing security controls across the enterprise turning intent into enforcement and helping organizations fix what matters across SaaS and on-prem environments, today announced a $10 million strategic investment from M12, Microsoft’s Venture Fund, and existing investors including Artisanal Ventures. The investment highlights M12’s belief in domain-specific AI as a transformative force in cybersecurity and underscores Reach’s leadership in enabling AI-powered exposure management.

As part of the announcement, Reach introduced ConfigIQ Drift™, a virtual assistant that allows security teams to define and enforce configuration drift detection without the need for deep configuration expertise or code skills. The company also previewed its upcoming Asset Intelligence capability, which will bring full-context visibility across identities, devices, and workloads to further enhance prioritization and remediation workflows.

Why M12, Microsoft’s Venture Fund Invested
M12’s investment reflects growing momentum in the exposure management category, with a focus on how virtual security assistants can drive adoption of security capabilities and automation in drift detection, policy enforcement, and remediation. M12 identified Reach’s unique combination of domain-specific language models (DSLM), operational automation, and real-world traction as key differentiators.

“Reach is redefining what actionable exposure management looks like,” said Todd Graham, Managing Partner at M12. “Their AI-powered assistant and extensible platform align directly with the needs of enterprise customers adopting Zero Trust, navigating compliance frameworks like CMMC, and helping customers migrate to or even activate underused capabilities in Microsoft 365 E5.”

Introducing ConfigIQ Drift™: A Virtual Assistant for Security Configuration
Reach launched its first drift capability three months ago. Today’s release of ConfigIQ Drift™ expands that foundation with a capability enabling customers to write their own drift detection rules. This makes it easy to define a baseline or “gold image” of intended configurations specifying exactly what to monitor for drift. For the first time, customers can now detect deviations across both SaaS and on-prem security products from a single, centralized location.

“Security teams aren’t just overwhelmed, they’re under-leveraged,” said Garrett Hamilton, CEO and Co-founder of Reach Security. “This partnership with M12 validates our belief that the next generation of cyber defense will be AI-powered, assistant-driven, plus deeply operational and focused on creating leverage for companies and their security tools. We’re building the infrastructure for that future today.”

Use Case Highlights: Zero Trust, CMMC, and Microsoft E3 to E5 Optimization
Reach is enabling real progress across a wide spectrum of high-priority security initiatives:

• Zero Trust: Aligning enforcement with ZT principles across identity, email, endpoint, and network controls
• CMMC 2.0: Mapping controls to live configurations and detecting drift in real time
• E3 to E5 Optimization: Helping organizations unlock the full value of Microsoft 365 by:
  • Mapping current posture and identifying gaps
  • Accelerating feature deployment through guided config generation
  • Monitoring for drift post-activation
  • Sustaining ROI with ongoing validation and insights

“Zero Trust is more than a framework, it’s a shift in how we operationalize protection,” said Jay Wilson, CISO at Insurity. “Reach is making it possible for us to move from planning to execution faster than we thought possible.”

Looking Ahead: Asset Intelligence and Adaptive Enforcement
Reach also previewed its upcoming Asset Intelligence capability. This will provide continuous insight into the security relevance, control coverage, and posture history of each identity, device, and workload. By combining that context with natural language rule authoring, Reach aims to deliver truly adaptive, assistant-driven enforcement.

Industry Recognition

Gartner® recently noted the importance of automation in exposure management:

“To combat the speed at which attackers exploit vulnerabilities, there will be a shift toward end-to-end automation of exposure management, including: continuous discovery, assessment, prioritization, validation and remediation of exposures.”
—Gartner, Emerging Tech: The Future of Exposure Management is Preemptive, by Elizabeth Kim, Apoorva Chhabra, 25 June 2025

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

SOURCE Reach Security

SALMON ARM, BC, July 29, 2025 – 4AG Robotics, the global pioneer in fully autonomous mushroom harvesting, today announced the close of its $40 million CAD Series B financing, led by Astanor and Cibus Capital, with support from new investor Voyager Capital and existing investors InBC, Emmertech, BDC Industrial Innovation Fund, Jim Richardson Family Office, Stray Dog Capital and Seraph Group. This round follows a $17.5 million round in 2023, bringing total capital raised to $57.5 million in the past two years.

The funding positions 4AG to meet surging global demand for its robotic harvesting platform, already in use across Canada, Ireland, and Australia, with new deployments soon to be underway in the Netherlands and the United States.

“This funding helps us leap from a start-up proving our product works to a scale-up manufacturer trying to keep pace with demand,” said Sean O’Connor, CEO of 4AG Robotics. “In just two and a half years, we’ve gone from asking farms to trial our technology to having deposits for over 40 additional robots. As one of the first companies to fully automate the human hand in produce harvesting, we’re ushering in a new era for mushroom farming.”

4AG’s system uses AI-powered computer vision, precision suction grippers, and advanced motion control to autonomously harvest, trim, and pack mushrooms 24/7—without manual labor. Designed to retrofit into existing Dutch-rack infrastructure, the robots enable consistent quality, reduced labour costs, and real-time operational data for growers.

“What sets us apart is we are not just a theoretical robotics project that works in a controlled lab environment—it’s the real world experience and the systems thinking that is critical to working with the complexity of real farm environments, and being able to deliver commercially successful automation into those environments” said Chris Payne, COO of 4AG Robotics.

The investment marks Astanor’s entry as a major partner to 4AG Robotics.

“We believe that, of all the agricultural sectors, mushrooms are the most poised for robotic solutions—and we believe that 4AG is not only the clear global leader today, but also has the potential, thanks to AI advances and their rich image data, to drive up yields and reduce inputs across the industry.  4AG could be at the forefront of the transformation of agriculture through AI and robotics,” said Harry Briggs, Partner at Astanor Ventures.

Cibus Capital, a leading agri-food tech investor based in the UK, also joined the round to support 4AG’s continued expansion into Europe and beyond.

“We are very excited to partner with 4AG, the global leader in agricultural harvesting robotics. Mushroom farming presents an enormous opportunity to utilise robotics and AI to drive labour optimisation together with higher yields and improved quality,” said Archie Burgess, Investment Director at Cibus Capital. “The impressive 4AG team has already developed a fleet of robots that pick up to 1 million mushrooms per week. We look forward to supporting them in accelerating this trajectory.”

The global mushroom sector—expected to surpass $70 billion by 2030—continues to face labour shortages and margin pressure. In western markets, harvesting accounts for up to 50% of production costs. These challenges are amplified by the constant need of harvesting, with mushrooms doubling in size every 24 hours, and farms needing to harvest their crops everyday of the year. 4AG’s plug-and-play robotic fleet offers growers a path to long-term competitiveness without reconfiguring their entire operation.

“We’re not just building robots—we’re building a new operating system for the mushroom industry,” said Michelle Lim, VP of Growth at 4AG Robotics. “Growers want tech that works out of the box, delivers ROI in under three years, and scales globally. That’s what we’ve built. And this funding gives us the fuel to move even faster.”

With this capital, 4AG Robotics will:

• Expand its manufacturing footprint in Salmon Arm, BC
• Grow its field service and customer success teams
• Accelerate development of next-gen features like punnet packing, disease detection, and AI-driven yield optimization

About Astanor
Astanor is a leading impact investor transforming the agrifood sector, “from soil to gut” by backing ambitious entrepreneurs building scalable solutions for a regenerative, climate-positive future. Learn more at https://astanor.com/

About Cibus Capital
Cibus Capital is a London-based sustainable food and agriculture investment firm advising over USD 1 billion. Founded in 2016, the Cibus funds invest in companies transforming the food and agriculture value chain towards commercial viability, sustainability and resilience. Learn more at https://www.cibusfund.com/

About 4AG Robotics
4AG Robotics builds fully autonomous harvesting systems that replace manual labour in commercial mushroom farms. Its AI-powered robots pick, trim, and pack mushrooms directly from existing infrastructure—around the clock, with precision and consistency. Founded in Salmon Arm, British Columbia, 4AG is active across five countries and backed by leading global investors. Learn more at http://www.4ag.ai .

SOURCE 4AG Robotics

Series B led by Touring Capital will propel Wingspan’s mission to make flexible work effortless; launch of Wingspan Embed brings comprehensive contractor management to HR platforms

NEW YORK, July 29, 2025 — Wingspan, the first modern payroll platform purpose-built for contractor management, announced that it has raised $24 million in Series B funding led by Touring Capital, bringing its total capital raised to $54 million. Existing investors Andreessen Horowitz, Long Journey Ventures, Distributed Ventures, Company Ventures, and 186 Ventures also participated.

Wingspan is on a mission to make contract work effortless for everyone. In less than three years, the company expanded its customer base by 200%, increased average ACV by 5x, supported 12x more contractors, and processed $3B+ in payments. Wingspan’s rapid adoption across various industries signals that businesses are urgently seeking infrastructure to manage this workforce transformation.

“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,” said Anthony Mironov, Co-founder and CEO of Wingspan. “The workforce composition is changing, and platforms that plan for this shift now will be well-positioned for the long haul.”

Roughly 40% of U.S. workers have performed contract work in the last year, and businesses increasingly rely on contingent labor to scale efficiently. More than $1.4 trillion dollars is paid out to contractors annually, or 4% of GDP, across an estimated 74 million contractors, per MBO Partners. In many ways, contractors are the backbone of the U.S. economy. By 2027, half of American workers are projected to earn some income from independent contracting, marking one of the most significant shifts in modern employment composition.

Wingspan is utilized by a range of contractors, from Omni’s gig workers to CRU Group’s insurance adjusters. Teladoc Health, Inc. (NYSE: TDOC) leverages Wingspan to provide its 10,000 healthcare providers with a seamless payment experience, saving the company an average of 28 hours per month on payment processing.

“Working with Wingspan has completely transformed the way Teladoc manages 1099 Provider Payroll,” said Tricia McGimpsey, VP, Payroll at Teladoc Health. “It’s an incredibly seamless process now.”

In addition to its Series B raise, Wingspan is announcing Wingspan Embed, a new solution that enables HR platforms to transform the way they manage and support contractors. The comprehensive feature set goes beyond contractor onboarding, tax automation, and payments to elevate the contractor experience with value-added financial services including tax withholding, debit cards, instant payouts, and insurance. Wingspan Embed’s modular and embeddable API-first architecture plugs directly into any HR platform; partners can choose from a white labeled solution, modular pre-built UI components, or a deeper, native integration. With Wingspan Embed, HR platforms become the central hub for managing a modern, flexible workforce.

“Wingspan Embed fundamentally changes what HR platforms can offer their customers. Instead of forcing businesses to juggle multiple systems, they can now manage their entire contingent workforce where they already work,” continued Mironov. “This funding accelerates our ability to help HR platforms unlock new revenue streams, reduce customer churn, and handle compliance complexities that have held them back from serving the contractor economy.”

The funding will accelerate Wingspan Embed’s adoption across HCM and HR platforms while expanding the company’s footprint in key verticals—healthcare, insurance, staffing, and professional services—where flexible workforces dominate. Wingspan will continue to invest in its world-class team while launching AI-powered products that apply the latest advances in AI technology to automate contractor compliance, streamline payments, and solve the complex challenges of managing flexible workforces at scale in ways that were never possible before.

“Wingspan is a scalable, intuitive product solving a critical market need, led by a visionary founding team,” said Priya Saiprasad, General Partner at Touring Capital. “The company’s extraordinary growth and rapid adoption by prominent HR platforms gave us the conviction to lead this funding round. We are proud to support Anthony, Greg, and the entire Wingspan team as they continue to modernize the infrastructure for contract work.”

“Wingspan cracked the code on making flexible work work—for platforms and the businesses they serve. Every platform will need a contractor stack—the smart ones will embed Wingspan,” said David Ulevitch, General Partner at Andreessen Horowitz.

To learn more about Wingspan Embed, visit https://www.wingspan.app/wingspan-embed.

About Wingspan
With 12x growth in contractors served and over $3B in total payments made in the past 3 years, Wingspan is on a mission to make flexible work effortless. As the first payroll platform for independent contractors, Wingspan provides platforms and their customers with the tools to efficiently and effectively manage contractors at scale – ensuring timely payments, access to optional insurance products and simplified onboarding. Wingspan was founded by Anthony Mironov and Greg Franczyk, whose backgrounds in financial services, small business payroll and benefits, and platform engineering gave them the tools to reinvent how companies support the way people work now. Learn more at https://www.wingspan.app/.

SOURCE Wingspan

BIRMINGHAM, Ala., July 29, 2025 — Porter Capital is pleased to announce a newly funded $2MM receivables-based financing facility for a leading nationwide provider of technology deployment, repair, and logistics. With operations spanning across the U.S., this company supports mission-critical technology rollouts for enterprise clients. The relationship is expected to grow as the company accelerates client deployments and scales its operations nationwide.

The company turned to Porter Capital for a flexible working capital solution that could meet their operational demands. As a company that delivers custom deployment and infrastructure solutions for Fortune 500 clients, they needed immediate access to additional capital to support a large client billing on net 60 payment terms.

“From day one, the Porter team was responsive and helpful,” said the company’s CFO. “Their ability to move quickly and tailor a financing structure to our business needs was a major factor in selecting them as a partner. The process was smooth, transparent, and effective.”

“This is exactly the type of business we’re built to support,” said John Cox Miller, SVP, National Sales at Porter Capital. “This company is solving major challenges in the tech deployment space, and we’re proud to provide the working capital they need to keep moving fast to serve their clients.”

This partnership is another example of how Porter Capital delivers personalized, high-impact financing solutions for companies in growth mode. Whether supporting field service operations, contractors, or logistics firms, Porter moves with speed and precision to unlock capital when it’s needed most.

About Porter Capital
Porter Capital Corporation was founded in 1991 by brothers Marc and Donald Porter in Birmingham, AL. The company provides working capital solutions to businesses nationwide across various industries. As a direct lender and factoring company, Porter Capital has funded billions since its inception. It offers Invoice Factoring services backed by a dedicated team committed to speed, flexibility, and service. Over the years, Porter Capital has expanded its services to include a specialized transportation division known as Porter Freight Funding. Porter continues to grow by offering fast, personalized working capital solutions backed by dedicated customer service. To learn more about Porter Capital Corporation and how it can support your business, call (205) 445-9445, email [email protected], or visit www.portercap.com.

CONTACT:
Ian Binek
[email protected]

SOURCE Porter Capital