Every.io has raised $22.5M in a Series A round led by Redpoint Ventures, with participation from Y Combinator, Okta Ventures, and Base10 Partners. The company's mission is to help tech founders focus on growth by simplifying and automating back-office operations like HR, finance, payroll, and taxes. CEO Rajeev Behera's experience in managing complex administrative tasks during his prior venture-backed company inspired the creation of Every. The funding will support the development of new products, including a free incorporation solution that provides an integrated back-office setup with a single click. The platform has grown to over 150 customers, with 78% utilizing its full suite of services, and aims to be the go-to solution for startup founders.



Every, a new entrant in the HR technology space, has raised $22.5 million in a Series A funding round led by Redpoint Ventures, with participation from Y Combinator, Okta Ventures, and Base10 Partners. The startup, co-founded by Rajeev Behera and Barry Peterson, is poised to disrupt the crowded HR software market by offering a unique all-in-one solution tailored for early-stage tech startups.

Innovative Business Model for Early-Stage Startups

Every’s platform stands out by offering free incorporation services and essential back-office functionalities such as business banking, payroll, onboarding, and compliance, specifically designed for startups with fewer than 200 employees. After a simple 30-minute onboarding session, startups gain access to a suite of integrated tools that cover HR, payroll, expense management, and more. The strategy is designed to lock in customers early by providing critical services from the very start of their business journey.

“We spent all this time building pretty advanced expense management, banking, payroll, all that stuff. Now we will release incorporation for founders, and we’re going to just give it away for free,” said Behera, co-founder and CEO of Every.

Leveraging the Power of Community and Y Combinator Connections

Every’s strong relationship with Y Combinator is evident in its customer base, with nearly half of its 150 clients originating from the accelerator's network. Behera, who is no stranger to the startup ecosystem, leveraged his experience from co-founding Reflektive, an HR employee reviews company sold to Learning Technologies Group in 2021. His ties to Y Combinator, combined with his deep understanding of HR technology, have enabled Every to swiftly gain traction among startups.

Building from the Ground Up

What makes Every's journey even more unique is its commitment to building its technology from scratch, rather than relying on partnerships with existing fintech companies. Behera, along with co-founder Barry Peterson, who previously served as Head of Engineering at Reflektive, developed Every's HR, payroll, and banking products internally. This approach allows Every to offer a seamless and integrated experience to its users.

A Competitive Edge in a Crowded Market

Despite entering a highly competitive market with established players like Gusto, Rippling, Deel, and Brex, Every's strategy appears to be paying off. The company’s focus on early-stage startups, combined with its integrated platform and strong community support, has attracted significant attention from investors and startups alike. The Series A funding round was led by Redpoint Ventures, whose partner, Alex Bard, took the initiative to lead the round after recognizing the potential of Every's model.

"Many founders were using Every, and that’s how many investors heard about Every in the first place," said Rexhi Dollaku of Base10 Partners. "Rajeev told us what he was building, and we funded it for the Series A."

Future Plans and Growth Strategy

With the new funding, Every plans to expand its engineering team and continue developing its platform to meet the needs of its growing customer base. Behera envisions that some of Every’s fastest-growing customers may eventually "graduate off" the platform, but until then, Every is determined to provide a tailored, comprehensive solution for startups in their crucial early years.

As Every continues to grow, it remains to be seen how the company will navigate competition from other Y Combinator-backed startups such as Rippling, Brex, Gusto, and Deel. However, with a fresh injection of capital, a strong team, and a focused strategy, Every is positioning itself to be a key player in the HR tech landscape for startups.