Carta review

Carta is the most complete platform we compared and the one most investors already use. Its Launch plan is free for companies with up to 25 stakeholders and $1M raised, and covers cap table management, securities issuance, 83(b) forms, ISO management, SAFE modeling and SAFE fundraising and closings. Build, for up to 50 stakeholders, adds priced round modeling, Deal Pro Forma, Deal Closings and white-glove onboarding. Grow adds board meetings, Form 3921 and 409A valuations with audit support, and Scale adds ASC 718 and IFRS reporting, Rule 701, exit modeling, IPO advisory and SSO for admins. Carta is also a registered transfer agent with the SEC, so it can run option exercises, repurchases and stock transfers and handle ACH or wire payments. The drawback for a startup budget is that no paid prices appear on the pricing page, so comparing it with Mantle or Cake means requesting a quote. For companies expecting several rounds and an eventual IPO, the depth is hard to match.

Who it is for

Venture-backed startups that expect many rounds, want an SEC-registered transfer agent and plan to need ASC 718 and IPO support.

Price

Launch free up to 25 stakeholders and $1M raised; See vendor pricing (USD check pending) for Build, Grow and Scale.

US price check pending. See the vendor pricing page.

Key features

• Cap table management, securities issuance, exercises and repurchases on every plan
• SAFE modeling, SAFE fundraising and closings, and HRIS and payroll integration
• Priced round modeling, Deal Pro Forma and Deal Closings on Build
• 409A valuations with audit support, board meetings and Form 3921 on Grow
• ASC 718, IFRS reporting, Rule 701, exit modeling and IPO advisory on Scale

Strengths and weaknesses

• Strength: SEC-registered transfer agent that can run exercises, repurchases and transfers
• Strength: The widest feature set we compared, from formation to IPO
• Strength: Free Launch plan for companies with up to 25 stakeholders and $1M raised
• Weakness: Paid plan prices are not published
• Weakness: Build caps stakeholders at 50 and 409A valuations start on Grow
• Weakness: The plan ladder is more complex than flat-priced rivals

Key facts

• Launch: Free, up to 25 stakeholders and $1M raised
• Build: Up to 50 stakeholders
• Grow: Adds 409A valuations and Form 3921
• Scale: Adds ASC 718, IFRS and IPO advisory
• Transfer agent: SEC-registered

Where it ranks

Carta is No. 5 in our Best Cap Table Management Software verdict.