Carta now supports adding multiple stakeholders in bulk.

Previously, adding new stakeholders to Carta was done on an individual basis within the Stakeholder ledger -- Manage Stakeholders > Add stakeholder. While this works perfectly well for a single stakeholder, it becomes time consuming for multiple stakeholders. For this reason, we’ve released a new Bulk Add Stakeholders feature. Here’s how to use it --

1. Go to the Stakeholder ledger - Manage Stakeholders > Bulk Add Stakeholders. You will see something that looks like this -

1. Use the “Download spreadsheet” button to download a blank xlsx file where you can input all your new stakeholder information
2. Fill in the xslx spreadsheet with your new stakeholder data. These will typically consist of recent employees who have joined your company
3. Go back to the Carta app to upload the spreadsheet containing the changes
4. Click the “Submit updates” button, and if there are no errors found with the data, you’re done! If there are errors, you will see a screen similar to what’s shown below. Click the “Download errors spreadsheet” button to download an annotated spreadsheet that calls out the errors.

1. Correct the errors in the resulting spreadsheet, re-upload the updated sheet, and submit the changes again. That should be it! The new stakeholders contained in your file will now be added as new stakeholders in Carta.

Over the last few months, we’ve been listening to your feedback on our changelog and identified usability and customization as two areas for improvement. Today, we are announcing our new and improved Release Notes in order to provide you with up-to-date information and news on Carta product changes. 

Key features of our Release Notes include:

Filter by label

You can now filter out notes to only include the ones you care about most. You will be able to filter by Carta product area (Corporations, Investor Services, Platform, and CartaX), customer type (Employee, Equity Administrator, Board Member, etc. ), or release stage (General Audience, Preview, etc.)

You can filter by label on the right hand side of the screen by selecting the label you’d like to see notes on.

Subscribe for recurring product updates

Curious to know about all the great things we’re releasing on a regular basis? Subscribe to our Release Notes. You will get an email to your inbox whenever we post a new update. You can find the subscribe button at the top of the Release Notes page.

Legal admins can now mark a previously approved board consent as “Void”. Voided board consents will no longer be visible to the company’s admins or board members; however, for data integrity purposes, the data will be preserved in Carta’s audit logs.

Note that board consents approving 409A reports or new option grants cannot be voided, as those cap events are linked to the consent itself. If an admin requires assistance with a consent of this nature, they should work with Carta Support.

Fund admins can now trigger an email to request that Limited Partners update their wire instructions ahead of a distribution. The primary on the LP account and any users who have been granted wire instruction permission will receive an email letting them know its time to update.

The link on the email will bring them directly to the wire instructions tab for that fund, where they can confirm or update their instructions.

To request wire instruction permission, contact our support team at investorservices@carta.com.

We’ve released a new feature that helps our staff value late stage private companies. The feature allows staff to conduct a “PWERM” valuation in-app, eliminating the need for them to rely on excel spreadsheets and saving them time on your 409A or ASC 820 valuation.

PWERM stands for Probability Weighted Expected Return Method. This methodology is often relied upon in the valuation community when there is a possibility of several future outcomes for the Company being valued. For example, Airbnb has said its resuming plans to IPO. However, real world events could come up, such as a global pandemic, that could stall these plans. Due to this uncertainty, a PWERM valuation methodology could better simulate real world outcomes where companies could either continue business as usual or could reach an exit event.

After an equity holder has submitted an exercise, they can now easily see the status of an exercise request from their Portfolio Holdings page.

To see additional details about the exercise, equity holders can click ‘View details’ to see relevant information about their exercise request.

Limited partners with fund investments on Carta can now securely update their wire instructions through our portal.

When a limited partner logs into Carta, they’ll see a Wire Instructions tab within each of their fund investments. There, limited partners can see any wire instructions that have been previously added and make updates.

Wire instructions are visible for the primary user on any fund investment. Please reach out to your fund administrator to give updates to any additional users.

The repurchase workflow will no longer remind users to terminate the stakeholder if the stakeholder’s already been terminated in Carta.

Unvested shares from equity grants are typically repurchased from stakeholders once they’ve been terminated in Carta. The recently released repurchase workflow was reminding users to terminate the stakeholder even if the stakeholder was already terminated in Carta. We’ve updated the workflow so that the blue reminder text and “Terminate stakeholder” button only appear if the stakeholder to which the certificate belongs hasn’t yet been terminated in Carta.

Thank you to the Carta admin users who reached out and provided this product feedback. Please continue reaching out and letting us know how we can make the product better for our corporate customers.

Carta public company administrators can now view and approve exercises through our public company exercise ledger.

Carta’s public company exercise ledger and public company RSU settlement tool can now be found under Transactions.

While administrators will still be able to approve exercises via Tasks, this new ledger gives a consolidated view of pending and approved exercises.

Start by clicking on Transactions and select Exercises:

The administrator is led to a ledger containing exercises to be approved. These include cashless type exercises as well as cash exercises.

Clicking the righthand caret will bring up the approval and tax review flow:

From here, the admin is able to review/update taxes if necessary, and approve the exercise.

Carta now automatically populates the Rule 144 date for certificates issued as a result of an exercise.

For Carta’s corporate customers domiciled in the United States, Carta will automatically set the Rule 144 date for certificates issued as a result of an exercise to be the recorded date of the exercise.

For more information about the Rule 144 date, check out the Rule 144 date support article in the Carta Support Center.

This is a simple improvement that will save time for Carta users and applies to exercises completed on Carta using our online exercising feature as well as any off-platform exercises reflected using our offline exercise workflow.

A special thank you from Carta’s product teams goes out to Carta’s law firm users for recommending this improvement.

Keep them coming!