# Everee

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/everee

- Industry: Software
- Headquarters: Salt Lake City, US
- Website: www.everee.com
- Total disclosed funding: $10M
- Latest round: Series A (Apr 8, 2020)
- Investors on record: 2

## About

Everee, Inc. specializes in providing a comprehensive payroll solution that facilitates same-day payments for both 1099 and W-2 workers, focusing on enhancing efficiency in payroll processing across multiple sectors.Founded by Derek Newbold, Kyle Jacobsen, and Tyler Ploeger, Everee, Inc. operates out of Salt Lake City, Utah, US. The company has undergone changes in its operational strategies and raised USD 10.000 mn in a Series A funding round in April 2020, co-led by Origin Ventures and Signal Peak Ventures. The total amount raised by the company is USD 10.000 mn. The founders have a background in developing innovative solutions aimed at improving financial operations for businesses.Everee offers a comprehensive payroll solution designed to facilitate same-day payments for both 1099 and W-2 workers, addressing the urgent need for faster pay in industries such as staffing, gig work, delivery, and rideshare. Their core product enables businesses to quickly process payroll, automate timesheet uploads, and handle compliance-related tasks such as tax calculations, I-9 verification, and ACA reporting across all 50 states. The platform is particularly advantageous for companies that operate in multiple jurisdictions, as it simplifies the complexities of payroll processing related to overtime and taxation. Everee’s services target a diverse client base, including staffing agencies and various commission-heavy industries, and are marketed primarily in the United States, focusing on urban areas where gig and temporary work is prevalent.Everee's revenue model is anchored in a transaction-based framework, where clients are charged for payroll processing services based on the number of workers paid each month rather than a flat fee for all users in the system. This structure allows businesses to optimize their payroll expenses by only incurring costs associated with active payments. Clients utilize Everee’s offerings, including its flagship same-day payroll service and automated compliance tools, to enhance their operational efficiency. The company’s transaction processes typically occur via B2B partnerships, where businesses subscribe to Everee’s services to streamline their payroll operations. Further details on specific pricing plans for these services, including any associated costs, were not disclosed.Following the recent funding round in April 2020, Everee, Inc. plans to accelerate its growth by supporting hiring, advancing product development, and expanding its sales and marketing efforts. Specific upcoming products and their launch dates have not been disclosed. The company is expected to explore additional markets as part of its expansion strategy, although targeted regions or specific timelines have not been mentioned.

## Funding rounds

- Series A, Apr 8, 2020, $10M — Signal Peak Ventures, Origin Ventures

## Investors

- Signal Peak Ventures (https://capitalatlas.ai/funds/signal-peak-ventures) — Series A
- Origin Ventures (https://capitalatlas.ai/funds/origin-ventures) — Series A