San Francisco-based Ever emerged from stealth today, announcing an oversubscribed $31 million Series A round led by Eclipse. The financing brings the startup’s total funding to approximately $100 million across equity and debt, supported by a roster of investors including Lifeline Ventures and Ibex Investors.
The big picture: Auto retail remains the largest segment of the U.S. retail economy at $1.2 trillion, yet it is notoriously fragmented and reliant on manual, legacy processes. Ever aims to replace these systems with an AI-native operating system that orchestrates everything from vehicle sourcing and pricing to merchandising and sales, with a specific focus on the burgeoning electric vehicle (EV) market.
How it works:
- Vertical Integration: Operates as a full-stack platform, managing the physical inventory and transaction end-to-end rather than just providing a software layer.
- Omnichannel Sales: Allows consumers to move seamlessly between online browsing and in-person transactions across 40 states.
- Efficiency Gains: Reports sales productivity levels three times higher than the used car industry average through automated administrative workflows.
The catch: Ever is entering a graveyard of “auto-tech” disruptors; many predecessors who attempted to own the full stack found that the capital intensity of holding car inventory quickly erodes tech-like margins. While the team boasts experience from Tesla and Rivian, they are navigating a high-interest-rate environment where the inventory carrying costs for electric vehicles can be particularly volatile. Scaling a vertically integrated model nationwide requires not just superior code, but a massive, sustained balance sheet that can withstand the cyclical nature of the automotive market.
Key Details
- Funding: $100M (Total Equity/Debt)
- Lead: Eclipse
- CEO: Lasse-Mathias Nyberg
- Sector: Auto Tech / E-commerce
