Every.io, a San Francisco-based company specializing in a comprehensive back office stack tailored for startups, recently closed a substantial Seed funding round amounting to $9.5 million. This round, spearheaded by Base10, witnessed robust participation from notable entities like Y Combinator, Formus Capital, and Rex Salisbury’s Cambrian Ventures.
The infusion of capital is earmarked to bolster the company's operational footprint and augment its market penetration strategy.
Founded by serial entrepreneur Rajeev Behera, renowned for his successful stint in raising $100 million for his prior venture, Reflektive—a significant player in the HR B2B SaaS domain that burgeoned to a workforce of 250 employees—Every.io marks a pioneering foray into an all-inclusive finance and HR suite. This unique platform amalgamates an array of crucial functionalities, including banking solutions, card services, bill payments, corporate treasury management, bookkeeping, tax compliance, HR management, payroll administration, and benefits provision.
The company's remarkable trajectory commenced with its launch during Y Combinator's S23 batch. Within a span of six months, Every.io swiftly surged to an impressive $1 million in Annual Recurring Revenue (ARR) and solidified its customer base, now boasting 75 clients.
Every.io's emergence as a comprehensive solution provider catering specifically to the multifaceted needs of startups underscores the growing demand for streamlined, all-encompassing back office tools within the entrepreneurial ecosystem. This investment not only fortifies the company's financial standing but also affirms its potential to revolutionize and streamline the operational infrastructure for startups navigating the complexities of finance and HR management.
