Every provides an integrated back-office suite — banking, payroll, HR onboarding, benefits, expense management, bookkeeping, taxes, and state compliance — targeted at very early-stage tech startups. Founders Rajeev Behera and Barry Peterson built the core banking and HR products in-house rather than partnering with other fintechs. Every’s go-to-market tactic is to give away incorporation and a business bank account to hook customers, then monetize through monthly SaaS fees for modules and interchange fees. The company says it has roughly 150 customers (about half from Y Combinator) and is geared toward startups with fewer than 200 employees, aiming to support them through their first five years. Every currently has about 20 employees and plans to use new funding to hire, primarily in engineering, and to fund the free incorporation/onboarding model. Competition includes larger incumbents and unicorns such as Gusto, Rippling, and Deel, as well as Brex, Mercury and several smaller HR/payroll vendors. Every.io offers a unified back-office platform that bundles bank accounts, corporate cards, bill payments, corporate treasury, HR, payroll, benefits, accounting, and taxes. The company launched in Y Combinator’s S23 batch and is based in San Francisco. Every.io reached $1M ARR within six months of launch and grew to 75 customers. The startup intends to use the new capital to expand operations and broaden its business reach. Rajeev Behera founded Every.io and previously raised $100M for his prior venture, Reflektive, scaling it to 250 employees. The product is positioned to save founders time and money by consolidating multiple financial and HR functions into one platform.

Total raised

$32M

Funding rounds

2

Latest round

Series A

Latest activity

Sep 2024