Vinco
Empowering the workforce of the future through education.
Startup Snapshot
Startup name: Vinco
Industry: EdTech
Business Model: B2B SaaS
Founder: Lissy Giacoman, Sofia Sada, Miriam Fernandez
Operates in: Mexico, Colombia, Brazil, Costa Rica & Dominican Republic
HQ Location: Monterrey, Mexico
Team Size: 45
Founded: 2021
Institutional Investors: Y Combinator, Reach Capital, Learn Capital, Angel Ventures & Wayra
Angel Investors: Rachel Romer, Beth Axelrod, Brian Requarth, Claire Diaz-Ortiz & others
Accelerators: Y Combinator (S21), Google for Startups & Codigos by Endeavor
Website: www.vincoed.com
What does Vinco do?
Vinco simplifies education's role in boosting retention and productivity for LATAM's corporations. This is achieved by connecting their customers and employees with top-notch global educational programs and institutions.
What's your backstory?
Vinco was founded by three extraordinary female founders who met in their early school days. They studied in the same school and grew up together, including playing soccer as a team in elementary school; their friendship has remained unwavering.
Individually, the founders gained valuable experience in diverse consulting roles. Lissy excelled at BCG, GPC, and Galera, where she met Miriam, while Sofia made her mark at Accenture.
Grateful for their educational opportunities, Lissy, Sofia, and Miriam envisioned a world where quality education is accessible. Leveraging their diverse academic backgrounds – Lissy's economics degree from Yale and MBA from MIT, Miriam's international policy studies at Georgetown, and Sofia's film and cinematography studies at the University of Austin – they joined forces to create Vinco.
These visionary and determined women are united in their mission to make education accessible, transformative, and impactful for individuals and corporations in the LATAM region.
How did you come up with the idea?
Through the extensive experience the three founders gained in consulting, they recognized a significant opportunity in the education sector firsthand.
Driven by their passion to make a meaningful impact, the founders seized the moment during the COVID pandemic when online programs for working adults experienced rapid growth. They realized that launching Vinco at this time would allow companies to offer their workforce access to these valuable educational programs, taking advantage of technological advancements and shifting dynamics.
In addition, with the talent war intensifying at an unprecedented pace, incorporating education became crucial for retaining and upskilling teams. Vinco understood the importance of offering companies the tools to invest in their employees' growth and development, enabling them to attract and retain top talent in a competitive environment.
"Latin America is the region with the largest skills gap in the world.
-World Economic Forum"
How did you acquire your first customers?
Vinco acquired its first customers by meticulously curating a list of the top 10 educational institutions with the most robust operational base in Mexico, forging strategic alliances with them, and approaching them with a compelling and innovative business model that promised mutual benefits. Fast forward nearly two years, and the partnerships with these esteemed educational institutions have strengthened, serving as the foundation for Vinco's success and customer acquisition.
When did you realize you had achieved PMF?
Many of the launches with large corporations began as pilot programs within specific departments or isolated areas of the companies. However, these programs have since expanded to encompass the entire corporate structure. Additionally, it is worth noting that half of the companies currently partnering with Vinco proactively sought out the platform, a testament to its reputation and success. Furthermore, Vinco's client base continues growing through referrals from satisfied customers, solidifying its position as a trusted and sought-after partner in corporate education.
What's your motivation?
Lissy, Sofia, and Miriam genuinely appreciate the educational opportunities they have been fortunate to receive. They passionately envision a world where education is within reach for everyone, transcending barriers and creating equal access.
In Mexico, an alarming two-thirds of the workforce have not completed high school, while the LATAM region grapples with one of the most significant skills gaps worldwide. Their heartfelt mission is to bridge this gap, employing a win-win model that benefits not only employees and companies but also educational institutions, Vinco, and society.
With a deep sense of purpose, Lissy, Sofia, and Miriam strive to make education a catalyst for positive change, empowering individuals, driving economic growth, and fostering a more inclusive and prosperous society.
What's next for Vinco?
Vinco's ultimate goal is to become the top choice for all educational needs within companies across LATAM. We aim to create a seamless experience where individuals can access the best educational programs, regardless of location. Whether the most suitable program is in Argentina or Mexico, we envision a future where geographical boundaries do not limit one's learning opportunities.
Furthermore, we are dedicated to fostering a corporate culture that places education at the forefront. We strive to empower companies to invest wholeheartedly in their employees' development, where economic constraints no longer hinder pursuing further education. With this vision in mind, we are committed to breaking down these barriers and ensuring that education becomes an accessible and transformative force for all in the LATAM region.
Tips for other founders:
Focus on people:
Internally: Build strong relationships with your stakeholders.
Externally: Implement an effective recruitment process.
Embrace experimentation: Foster a culture of continuous improvement through rapid iteration and learning from successes and failures.
Don't wait until your MVP is perfect: Adopt an agile approach, launching quickly and adjusting based on feedback to drive faster progress.
Special offer for our readers 🚀
Receive an MXN 20,000 bonus for educational programs for your collaborators!
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Special thanks to our sponsor:
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Renowned for its expertise and commitment to excellence, Axented provides innovative solutions to help businesses thrive in a digital world.
Felicidades , muy buena entrevista con Vinco!