Highlights:

  • Every focuses on back-office tasks like payroll, taxes, and accounting, offering startup founders access to expert guidance from accountants and payroll specialists.
  • Every will use the new funding to expand its back-office suite, including launching the first free incorporation solution.

Recently, a startup company that specializes in back-office solutions, Every Inc., has secured USD 22.5 million in new funding to expand its product offerings within its back-office suite.

Established in 2021 by serial entrepreneur Rajeev Behera, the founder and former CEO of software company Reflektive Inc., Every provides startups with a comprehensive finance and human resources platform. The suite integrates banking, cards, bill payments, corporate treasury, tax management, payroll, and benefits.

The concept for the company originated from Behera’s experience at Reflektive, where he faced challenges while managing the back office. “Founders just want to focus on building,” Behera said during the company’s last funding round in November. “They don’t have time to learn complex subjects like payroll, taxes and accounting.”

Every specializes in crucial back-office tasks such as payroll, taxes, and accounting, providing startup founders with access to professional support from accountants and payroll experts. Their services include filing state taxes, assisting founders in selecting the right healthcare plan, and developing tailored treasury management strategies to optimize returns while ensuring full insurance coverage for all funds.

Startup founders “need a partner who takes them through each step and makes sure that their company is set up compliantly, so they can focus their time on finding product market fit and serving customers,” Behera stated that this is precisely what Every delivers.

The company is seeing success with its offerings, having grown to over 150 customers, with 78% of them utilizing Every’s complete back-office suite.

Every intends to use the new funding to expand its back-office suite by introducing additional products, including the market’s first free incorporation solution. According to the company, this tool will allow founders to establish a corporate entity and instantly set up their entire back office with just a click of a button.

The Series A funding round was led by Redpoint Ventures LP, with participation from Y Combinator, Okta Ventures, Base10 Partners Management, and Formus Capital.

“HR, finance and payroll back office ops can be particularly challenging early on for startups, but these functions are both critical and important to the foundation of any business. With Every, founders now have a solution that can get them back to focusing on their customers and product, and automate everything else,” said Rexhi Dollaku, General Partner at Base10 Partners.