A missed annual report can surface at the worst possible moment. Discern built a registered agent around the people who must prove, state by state, that the paperwork was actually done.
Three former Stripe and Square operators started with one customer, one state and one leave type. Five years later, Cocoon had supported 25,000 leaves, won 400-plus employers and sold to TriNet - a neat lesson in turning regulatory sludge into useful software.