Black-Led VC Leads $9.5M Investment In Every.io To Automate Back Office Workflows With AI
Every.io has announced it’s coming out of stealth alongside $9.5 million in seed funding.
Every is the first all-in-one finance and HR suite that combines Banking, Cards, Bill Payments, Corporate Treasury, Bookkeeping, Tax, HR, Payroll, and Benefits in one platform.
It was founded by Rajeev Behera, who previously raised $100 million in his last venture, Reflektive.
The inspiration came from Behara’s experience as the founding CEO at Reflektive.
“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,” said Behera, according to a press release.
Every aims to save founders time by consolidating all their back office work in one place with ten times better workflows using AI.
On top of being a platform, Every also provides professional services.
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.
Every’s AI automates workflows across its product suite, saving founders time and money while delivering a superior experience.
Following their launch in YC’s S23 batch, the platform hit $1 million ARR in six months and grew to 75 customers.
The $9.5 Million Seed Funding
The seed funding round was led by Base10 – a San Francisco-based venture capital fund investing in founders and companies founded by Adeyemi Ajao and TJ Nahigian.
Read: Base10 Becomes First Black-Led VC Firm To Cross $1B AUM With New Fund
The company intends to use the funds to expand operations and its business reach.
“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,” said Rexhi Dollaku, General Partner at Base10 Partners.
“We look forward to partnering with Every as they continue to save founders hundreds of hours managing Finance and HR.”
