Updating our Browser Security Protocols

Customer security and data protection is always a priority at Carta - this is why we are deprecating our support of TLS 1.1. TLS 1.1 is a HTTP security protocol for your internet browser that was released in 2006 and has known security vulnerabilities.

On July 7th, 2020, Carta will no longer be supporting, or allowing, our customers to access Carta with TLS 1.1.

You may be impacted if you are using a very old browser but can easily resolve the issue by updating your browser to the most up to date version.

Updated Email Design - Coming in One Week

An email from Carta is often the first interaction we have with our users—and we aim to make this first impression a great one. That doesn’t mean we need to be splashy. Rather, it means we want to provide clear information to our users that helps them understand what Carta is and how we can help them manage their assets and equity. For users who’ve been with us a while, we hope these emails continue to reflect the high quality or our software and services.

Carta last updated its emails in November 2017. We’ve changed a lot since then, and we’ve learned a lot, too. In one week, we will release a revamped version of our emails that we hope solve some problems that our users and data helped us identify as well as better reflect our brand today. Today, we’re giving you a preview of what those changes will look like:

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We’ve said hello to many employees, companies, investors, board members, law firms, and others around the world the past few years. We think these emails will help us say hello even better going forward.

CCL Compliance Certificates

CCL borrowers and Fund Admin can now submit compliance certificates in-app.

On a quarterly and annual basis, CCL borrowers must certify that they are in compliance with all required covenants in their Loan & Security Agreement by submitting a compliance certificate.

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A Fund Admin (Operator) can complete the certificate and submit to the Borrower (Signer) for signature. A Borrower can either sign these submitted forms or fill one out, sign, and submit directly. Both an Operator and a Signer can retract unsigned compliance certificates (e.g. certificate was filled out in error or is no longer applicable).

Exercises Ledger & Managing 83(b) Elections

Today, all of Carta’s private, corporate customers have access to the Exercises ledger with 83(b) administration features.

Awhile back, Carta introduced the Exercises ledger. The ledger provided a view of all exercise requests across the company, along with simple filtering by exercise status and date range. We’ve spent some time gathering and incorporating feedback from our customers to provide an improved Exercises ledger with additional features. A few highlights are illustrated below:

Admins are now given a tab that filters for early exercises:

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From there, admins can mark whether or not a shareholder chose to make an 83(b) election, and even send notifications reminding the shareholder to upload their 83(b) election form in Carta:

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Additionally, admins can reject a submitted exercise request when reviewing the request from within the Exercises ledger:

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Filtering by payment type is now possible - this should be especially useful for companies needing to process and accept wire transfers for exercise payment:

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New and Improved Exercising Flow

We’re excited to announce our enhanced exercising flow coming early next week!

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The updated in-product experience aims to help employees feel more confident throughout the process and reduce the finance and HR team’s burden of managing (and answering questions about) option exercises.

To begin, your company must have online transactions turned on in Carta. Once they do, all you need is:

  • A US bank account
  • ISO, NSO, or ISO/NSO split grants that are vested

As part of the update, we’ve added an Exercise button directly on the Holdings page, under the new vesting chart. Click on the button to begin.

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Once you’re ready, Carta will guide you through a step-by-step process that includes:

  • The ability to select which grant and how many shares to exercise
  • Estimated tax breakdowns to help you understand your obligations at the time of exercise and the end of the fiscal year
  • In-flow profile and payment management to streamline the exercising experience without friction
  • Autofilled 83(b) election form for employees who early exercise
  • A clear timeline of next steps you should look out for before the shares are in your portfolio

Have more questions about your equity? Click here to learn more >

ASC820 valuations for Firms without cap table access

Are you getting ready to do your fund’s quarterly or annual ASC820 valuations? Want to get started on that valuation but your portfolio company hasn’t granted you cap table access? Not a problem, we’ve made this step easier!

You can now create an ASC820 valuation for a portfolio company that has not granted you cap table access just yet. To do this, navigate to the portfolio company, click on the valuations page, and select the Create valuation button.

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You will then be prompted to create a pro-forma cap table for the portfolio company.
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Once done, you will be able to create a valuation using that pro-forma cap table.
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For more information regarding pro-forma cap tables and the ASC820 valuation tool, reach out to investorservices@carta.com.

Earnings per share report (basic & diluted)

Quarterly and annual reporting can be time consuming and stressful. For our public companies, help is on the way with our new earnings per share report! You can now calculate your company’s basic and diluted earnings per share faster than ever.

To access this report, navigate to the Reports page and search for Earnings per share worksheet under the Compliance section. Be sure to enter the start and end dates of the fiscal period, then export the report.

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New custom equity plan report

Now Legal and Company administrators can export a new customizable equity plan. There are 40+ columns to choose from, and you also have the ability to select multiple plans to export. The output file is a spreadsheet with each plan being its own tab.

The Custom Equity Plan report is the last one on the Equity Plan Analysis section, inside the Reports item, under the Capitalization dropdown.

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2FA Status update

We strongly recommend that you enable 2-factor authentication to keep your account secure.

If you do not have access to your device or cannot receive the code, you can raise a request to disable it through the Carta platform.

In case we do not have enough information to approve your request, you will now be able to schedule an identity verification call directly from the status update email - no need to contact support first.

Before:

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After:

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