Every.io: Back Office Stack Company Closes $9.5 Million In Funding

By Amit Chowdhry ● Dec 9, 2023

Every.io (dba Every) – an all-in-one back office stack for startups – recently announced it is coming out of stealth alongside $9.5 million in seed funding. The round was led by Base10, with participation from Y Combinator, Formus Capital, and Rex Salisbury’s Cambrian Ventures.

Every offers bank accounts, corporate cards, bill payments, corporate treasury, HR, payroll, benefits, accounting, and taxes in one platform, allowing founders to save time and money. Following their successful launch in YC’s S23 batch, Every hit $1 million ARR in 6 months and grew to 75 customers.

The company was founded by serial entrepreneur Rajeev Behera – who previously raised $100 million for his last venture, Reflektive, in the HR B2B SaaS space, scaling it to 250 employees.

With Every, founders get a dedicated accountant and payroll specialist for expert guidance, who can support filing state taxes, choosing the best healthcare plan, and creating a custom treasury management plan that maximizes yield and fund safety.

Every’s AI automates workflows across its integrated product suite, saving founders time and money while also providing a superior experience. And for example, And Every’s in-house general ledger sits across banking, payroll, and treasury, allowing the Bookkeeper AI to seamlessly pull and automatically categorize transaction data, delivering bookkeeping at 50% of the cost of competitors.

KEY QUOTES:

“When I started my last company, I made a lot of costly errors setting up my back office. Founders just want to focus on building. They don’t have time to learn complex subjects like payroll, taxes, and accounting.”

— Rajeev Behera, CEO of Every – who was also the founding CEO at Reflektive

“We had some complicated situations with paying our contractors, and Every handled them super well. We were literally set up within an hour for contractors and within a day for W2 payroll.”

— George Wang, Co-Founder and CEO at Stellar Sleep (YC S23)

“As a founder, the last thing I need is to be thinking about all these details. Finding a single trusted source to handle all of them (well + efficiently), so I can focus on our customers & product is so valuable.”

— Luke Groesbeck, Co-Founder and CEO at Foundation (YC S23)

“We are thrilled to lead this seed funding round and are excited how Every is leveraging AI to reimagine the full back office stack to simplify complex workflows so they are more founder friendly. We look forward to partnering with Every as they continue to save founders hundreds of hours managing Finance and HR.”

— Rexhi Dollaku, General Partner at Base10 Partners