Everdays raises $12M in Series A, nears $100M valuation by bringing modern approach to end-of-life communication
AI-based social platform quadruples valuation just 20 months after launch
DETROIT, Feb. 7, 2019 /PRNewswire/ -- Everdays, the social platform that builds communities around milestone life events, today announced the close of its Series A funding round, bringing its valuation to nearly $100 million in just 20 months since launch.
The $12 million raise, led by Houston-based Gordy Companies, quadruples Everdays' valuation from its seed round in 2017, validating its refreshingly modern approach to facilitating communication around death. The company plans to at least double its team of 30 over the next 12 months, hiring aggressively in all areas including marketing and product development.
Everdays has enabled a dramatic expansion in the community and content generated around end-of-life events, capturing a large, proprietary audience and creating a market where none previously existed. With over 1,000 funeral homes using its cloud-based SaaS dashboard, and 1.8 million families and friends connected on its platform in under two years, Everdays is on pace to capture ten percent of the 2.7 million yearly deaths in the U.S within the next three years.
And, with an unserved audience of 100 million people in the U.S. ages 55 and up, demand for the offering was so strong that competitive bidding drove the valuation far past Everdays' founder and CEO Mark Alhermizi's expectations. This allowed Everdays the luxury of passing on traditional venture capital in favor of high-networth family investment offices.
"Today, the support a family receives during these critical times is small, short-lived and painfully analog," Alhermizi said. "It's what I experienced when my dad passed away a few years ago. It was such a hard and debilitating time, and there was no technology to guide or support the process to make it easier, for me or the community of family and friends who wanted to support me. Everdays is solving that problem and destigmatizing conversations around death, helping people feel more comfortable by offering the right kind of support when it's needed most."
As both a web and mobile platform that builds a social community around a family before, during and long after a death, Everdays delivers on modern consumer expectations by infusing technology into an otherwise traditional industry that has not kept pace with contemporary mobile experiences. Families use the app to create an Everdays Announcement where community, dialogue, events, content and commerce converge to provide support during hospice care or when a loved one passes.
"We aren't just pouring funds into a better invention," said Russell Gordy, CEO of Gordy Companies, one of two multi-billion dollar family investment funds that led the round. "We're fueling the innovation of an entirely new concept and tapping a latent market just like Uber and Airbnb did. Everdays is giving the millions of baby boomers and their tech savvy children a long overdue way to celebrate life through powerful technology."
The Everdays app is available on both iOS and Android. To learn more about the platform please visit www.everdays.com.
About Everdays
Everdays is the largest and fastest-growing social platform for building communities around milestone life events. Everdays provides free memorial announcements and keeps users up-to-date about deaths in their life's network, enabling them to share memories, events and condolences when loved ones need it most. The platform uses artificial intelligence to connect users based on details about their hometown, high school, military service and funeral homes in their community to deliver automatic announcements, ensuring users never miss a relevant passing from their life's network again. To learn more, visit www.everdays.com.
CONTACT: Kristen Bujold, 517-404-7539, [email protected]
SOURCE Everdays
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