It’s hard to believe it was less than two years ago when I first heard of the idea for what would become Everee. Ron Ross, a good friend of mine, was a concerned parent trying to help his daughter navigate her finances. She was making enough to cover her expenses, but the timing of her paycheck and bills didn’t match, so she kept running out of money. It made Ron question why employees were stuck with a two-week pay cycle when it wasn’t working for many of them. Digital technology had advanced so many industries, so why were we still paying people the same way we had for the last 80 years?
Everee is a payroll platform that’s not only easy to use, it allows people to get paid whenever they need it, whether that’s daily, weekly or on demand. And today marks a huge milestone for our company.
I’m excited to announce we’ve raised $10M in a Series A financing round led by amazing investors who believe in our vision to disrupt the antiquated pay cycle. Origin Ventures and Signal Peak Ventures co-led the round, and I’ve enjoyed getting to know their teams, especially our new board members Brent Hill of Origin Ventures and Ben Dahl of Signal Peak Ventures. Both firms will bring critical experience and insights as we scale our business.
Our platform is more important today than we even imagined, with so many businesses concerned about taking care of their employees and so many people worried about getting by during these uncertain times. We want furloughed employees to know that when they return to work, they won’t have to wait another 2-3 weeks for their paycheck. We want workers who are worried about covering their expenses to have more control over their finances and additional opportunities to save. We want businesses to be able to offer more frequent pay as a life-changing benefit for employees once they’re hiring again.
The funding puts us in the position to help even more people and businesses in these ways, and accelerate efforts in line with our mission: to humanize the exchange of value between employers and employees. We recently made Pay On Demand, which allows employees to access 100% of their earned income whenever they need it at no cost to them, part of our Basic plan so it’s available to all customers.
Adding more value for our customers and helping them create a better pay experience is what drives every single employee at Everee. On behalf of the entire team, we’re honored and excited to start the next phase of growth for our business. We’ve only just begun, and I can’t wait to see what’s ahead for us!
Read more in the press release.