It should be simple to manage, transfer, and control who has access to employment records. But it's not.
Argyle is a gateway to access employment records. Similar to how Plaid changed the fintech industry by opening up access to financial institutions, Argyle is doing the same with employee databases. Argyle builds the underlying infrastructure that connects to every employer, maintains a live data feed to the systems these employers use to manage employment records, and provides a normalized data set so that businesses can make use of employment data in a way that is simple yet impactful. The net effect of Argyle's infrastructure is a set of use cases.
Click into a use case for details.
The short term objective for Argyle is access to 100% of employment records; the reason for fundraising at this moment is to quicken the date of 100% access. Achieving this goal requires a large scale development team, deep technological experiences, and an appreciation that this data set is stored in countless, fragmented, ways.
There are over 7.8M businesses in the United States alone that generated employment records in 2019. Starting at A and going to Z, going from the largest employers to the smallest ones or picking the "biggest" payroll providers and ending with the smallest ones take a reductive view of the endeavor. Two key considerations have been made in our approach to 100% access. First, building access that is complementary to legacy competition - thereby allowing Argyle to act as a failover for transactions they can not fulfill. Second, developing access in productized tranche's - thereby allowing Argyle to have high coverage in segments of the market instead of all at once. In turn, Argyle will be able to sell new Tranches of coverage over the same set of client verticals.
Anecdotally Equifax's [$800M](https://links96.mixmaxusercontent.com/5c11484d7f45880f4e3664b9/l/v2aWz3gSPkaN61aQ7?messageId=!!!MESSAGE_ID!!!&rn=!!!RECIPIENT_NAME_ENC!!!&re=!!!EMAIL_ADDR_ENC!!!&sc=!!!IS_SENDER_COPY!!!) revenue-producing subsidiary, TWN, has spent 70 years gaining a rudimentary level of this same data set, and their coverage ranges between 30% to 65% depending on the client vertical. Argyle estimates it can get near 100% coverage in 2-3 years. After two years of development, the hard truth is this: this moat is a brute-force endeavor constrained by the number of developers who are committed to the project. It demands both a front line team that builds new connections and multiple maintenance squads that maintain them. If access to this data was simple, another company would have solved this already.