Every.io
All-in-one back-office platform for startups offering banking, payroll, HR, taxes, and more.
Website: https://www.every.io/
Cover Block
| Field | Value |
|---|---|
| Name | Every.io |
| Tagline | All-in-one back-office platform for startups offering banking, payroll, HR, taxes, and more. |
| Headquarters | San Francisco, United States |
| Founded | 2021 |
| Stage | Series A |
| Business Model | SaaS |
| Industry | Fintech |
| Technology Type | AI / Machine Learning |
| Geography | North America |
| Growth Profile | Venture Scale |
| Founding Team | Co-Founders (2) |
| Funding Label | Series A |
| Total Disclosed | ~$32,000,000 |
Links
- Website: https://www.every.io/
- LinkedIn: https://www.linkedin.com/company/everybanking
- Blog: https://blog.every.io/
- Y Combinator Launch: https://www.ycombinator.com/launches/MdN-every-io-incorporate-your-startup-for-0
- Crunchbase: https://www.crunchbase.com/organization/every-inc
What an Investor Needs First
Every.io is a San Francisco fintech selling an integrated back-office stack (banking, corporate cards, bill pay, payroll, HR, bookkeeping, and tax) to early-stage startups [SiliconANGLE, Sep 2024]. The company was founded in 2021 by Rajeev Behera and Barry Peterson, both previously at Reflektive [Y Combinator]. Every's pitch is that a single account, with workflows wired together by AI, replaces the patchwork early founders otherwise stitch by hand [LinkedIn]. The company has raised approximately $32,000,000 in disclosed funding: a $9.5M seed in November 2023 led by Base10 and a $22.5M Series A in September 2024 led by Redpoint Ventures [Finsmes, Nov 2023] [SiliconANGLE, Sep 2024]. Distribution leans heavily on the Y Combinator network [TechCrunch, Sep 2024]. The company says it has processed more than $60M in payroll to date and that customers on the platform have paid $0 in tax penalties [Every.io].
Data Accuracy: GREEN -- Confirmed by SiliconANGLE, TechCrunch, Finsmes, PR Newswire, and the company's own filings.
Inside the Company
Every was founded in 2021 in San Francisco by Rajeev Behera and Barry Peterson, who had previously built Reflektive, a performance-management software company that scaled to roughly 250 employees and raised a reported $100M from Andreessen Horowitz, Lightspeed, and TPG [Every.io] [Y Combinator]. The company spent its first two years in product build mode before surfacing publicly with a $9.5M seed round in November 2023 led by Base10 [Finsmes, Nov 2023] [PR Newswire]. In September 2024, Every announced a $22.5M Series A led by Redpoint Ventures [SiliconANGLE, Sep 2024]. The most visible go-to-market milestone has been Every's free incorporation product [Y Combinator]. The company reports having processed more than $60M in payroll [Every.io].
Data Accuracy: GREEN -- Confirmed by SiliconANGLE, Finsmes, PR Newswire, Y Combinator, and the company website.
Under the Hood
Every sells a single account that bundles banking, corporate cards, bill payments, corporate treasury, payroll, HR, benefits, bookkeeping, and tax [Every.io] [SiliconANGLE, Sep 2024]. The free incorporation product includes business formation paired with a bank account [Every.io]. The payroll product automates compliance tasks and handles state tax registrations [Every.io]. The company states that across more than $60M in payroll processed, customers have paid $0 in tax penalties [Every.io]. Every is a financial technology company, not a bank, and deposits run through partner banks [Every.io]. The company's LinkedIn page describes the offering as delivering 10x better workflows using AI [LinkedIn].
Data Accuracy: YELLOW -- Product surface confirmed by SiliconANGLE and the company website; AI workflow claims rest on company-only sourcing.
Market Research and Opportunity
Every is selling into the back office of a newly formed US startup. TechCrunch reported that Y Combinator companies have been adopting Every as a default for banking and HR [TechCrunch, Sep 2024]. SiliconANGLE's coverage of the Series A emphasized that startup founders are increasingly looking for an all-in-one suite [SiliconANGLE, Sep 2024]. DHRMap framed the round as a bet on redefining HR tech for early-stage startups [DHRMap]. Adjacent markets include SMB banking (Mercury, Brex, Relay, Bluevine), payroll and HR (Gusto, Rippling, Justworks, Deel), bookkeeping and tax (Pilot, Bench, Kruze Consulting), and corporate cards (Brex, Ramp, Mercury IO).
| Metric | Value |
|---|---|
| Payroll processed on platform | >$60M |
| Series A round size | $22.5M |
| Total disclosed funding | ~$32,000,000 |
Data Accuracy: YELLOW -- Demand drivers and customer segment confirmed by TechCrunch, SiliconANGLE, and DHRMap; quantitative TAM not independently sourced.
Competition and Substitutes
Every is positioned as a bundle in a market where the strongest current players are best-of-breed point solutions.
| Company | Positioning | Stage / Funding |
|---|---|---|
| Every.io | All-in-one back office | Series A, ~$32,000,000 |
| Relay Financial | SMB business banking | Venture-backed |
In banking, Mercury and Brex are the gravitational centers for venture-backed startups. In payroll and HR, Gusto and Rippling are the incumbents. In bookkeeping and tax, Pilot and Kruze Consulting dominate the venture-backed early-stage segment. Every's edge is distribution within the YC network and the integration surface itself [TechCrunch, Sep 2024].
Opportunity
The size of the prize is becoming the operating-system layer that every newly incorporated US startup runs on from day zero through Series B. The wedge product (free incorporation) sits at the literal first transaction in a startup's life [TechCrunch, Sep 2024].
Data Accuracy: YELLOW -- Scenarios anchored to cited TechCrunch, SiliconANGLE, and company-source evidence.
Sources
- [SiliconANGLE, Sep 2024] Every.io raises $22.5M to develop new products for startup back-office support | https://siliconangle.com/2024/09/12/every-io-raises-22-5m-develop-new-products-startup-back-office-support/
- [TechCrunch, Sep 2024] Why Y Combinator companies are flocking to banking and HR startup Every | https://techcrunch.com/2024/09/12/why-y-combinator-companies-are-flocking-to-new-banking-hr-startup-every/
- [Finsmes, Nov 2023] Every.io Raises $9.5M in Seed Funding | https://www.finsmes.com/2023/11/every-io-raises-9-5m-in-seed-funding.html
- [PR Newswire] Every.io Raises $9.5M in Seed Funding for All-in-One HR & Finance Suite | https://www.prnewswire.com/news-releases/everyio-raises-9-5m-in-seed-funding-for-all-in-one-hr--finance-suite-301999705.html
- [DHRMap] Every Secures $22.5 Million Series A to Redefine HR Tech for Early-Stage Startups | https://www.dhrmap.com/news/every-secures-22-5-million-series-a-to-redefine-hr-tech-for-early-stage-startups
- [Y Combinator] Launch YC: Every.io: Incorporate your startup for $0 | https://www.ycombinator.com/launches/MdN-every-io-incorporate-your-startup-for-0
- [Every.io] About | https://www.every.io/about
- [Every.io] Why I Built Every: Announcing Our $22.5M Series A Led By Redpoint Ventures | https://www.every.io/blog-post/why-i-built-every-announcing-our-22-5m-series-a-to-transform-back-office-stress-into-founder-success
- [Every.io] Introducing Every: A Modern Payroll Platform for Startups | https://www.every.io/blog-post/introducing-every-a-modern-payroll-platform-for-startups
- [Every.io] Company homepage | https://www.every.io/
- [LinkedIn] Every company page | https://www.linkedin.com/company/everybanking
- [Crunchbase] Every - Crunchbase Company Profile & Funding | https://www.crunchbase.com/organization/every-inc
- [Business Insider, May 2016] Reflektive founder Rajeev Behera profile | https://www.businessinsider.com/
- [Fortune, May 2016] Reflektive customer growth coverage | https://fortune.com/
Articles about Every.io
- Every.io Wants Every YC Founder's First Bank Account, Payroll Run, and Tax Filing — The San Francisco back-office startup raised $22.5M from Redpoint to bundle banking, payroll, and HR for companies on day zero.