Everyware Revenue & Funding (2024)

Everyware is on track to exceed $25 million in revenue in 2023, according to Larry Talley, who presented those figures at a conference in March 2023. The company reported an earlier revenue figure of approximately $3.5 million, and Talley noted that in 2018, the year of founding, the company barely broke $1 million in revenue. The progression from roughly $1 million at founding to $3.5 million and then toward $25 million in 2023 reflects the acceleration Talley attributed to relocating to Austin, the COVID-19 pandemic driving contactless payment adoption, and a partnership with Visa that expanded the platform rapidly into healthcare billing.

Everyware's customer portfolio had grown to more than 10,000 customers as of March 2023, with more than 18,000 users logging into the system, according to Larry Talley. Named enterprise customers include T-Mobile, Visa, Discover, Wells Fargo, KeyBanc, and Bank of America.

Talley noted that several of the largest customers white-label the Everyware platform, meaning the end users of those institutions interact with the technology without seeing the Everyware brand. Pricing per seat, ARPU, and any free-tier details were not discussed in the interview.

Everyware generates revenue by providing a text-based payment collection and identity verification platform to enterprise customers, card networks, and banks. The core product assigns a merchant a local 10-digit mobile number; end customers receive SMS messages and can pay bills or resolve payment questions without calling a phone number or clicking a link. A secondary product layer uses network tokenization, certifying a payer's phone number with card networks to enable lower-cost, lower-fraud transactions.

The company distributes primarily through value-added resellers and white-label arrangements with large enterprise partners, targeting organizations that already have thousands of downstream merchants or customers. Talley described this as knocking on one door that has a thousand customers rather than knocking on a thousand individual doors.

Talley confirmed in March 2023 that Everyware is profitable. Gross margin, burn rate, churn, net revenue retention, CAC, LTV, and other unit economics were not discussed in the interview.

Everyware had 57 employees as of March 2023, according to Larry Talley. He stated the company planned to add approximately 40 more employees over the following six months, which would bring total headcount to roughly 97 if the plan was executed as described.

Talley noted that reaching the growth stage required moving some early employees into roles better suited to their strengths and bringing in executives who had previously scaled companies, describing that as one of the more difficult decisions he made heading into 2023.