What’s New

The Payment Status Updates on the Exercising workflow provides users a more accurate reflection of the status of their exercise during the money movement step of the exercise. Error messaging will now provide a single failure message clarifying what caused their exercise to become stuck during the money movement step of the exercise including errors around cancelation requests, bank account removal, and insufficient funds in the bank account.

Who this affects

All users exercising for private companies on Carta.

How it works

Today, users can view the status of their exercises in progress on the Holdings page and with the new Payment Status Update feature, these exercises will now display an ‘Error’ bubble beside the active step when the exercise gets stuck. Clicking the ‘View details’ button will navigate the user to the Exercise tab on the Option grant modal with user instructions to help resolve their stuck exercise. 

On the Exercise tab, error messaging will provide user action to contact their company admin through the Option grant modal’s Report Issue tab, to contact Carta Support through the chat, or update their bank account information on the Payment Information page. 

Employees can now experience the new onboarding process on the Carta mobile app.

Who this affects

Employees who have been issued option grants (ISO/NSO) or Restricted Stock Units and are registering with Carta for the first time.

Supported Platforms

iOS and Android

What's New?

To allow employees to prepare themselves for transaction such as exercising, employees will be able to provide the following information upon onboarding:

• Personal details: Name, Date of Birth, and Country of Citizenship
• Tax ID
• Address

What's Next?

We will be capturing phone number upon the next update

Admins can now retract any interests that were issued incorrectly.

Ensure accuracy when issuing interests

Mistakes can happen when issuing interests, like inputting the incorrect contact information or interest details for the holder. 

Now, if you have already issued the interest but the holder has not accepted it yet, you can retract the interest. Retracting the interest revokes the holder’s task to accept it and changes the holder sharing status to ‘unshared’ so that you can make any corrections.

Get started

If you need to retract an interest, go to the interests ledger on the Interests & Interest Types page. Then, select the dropdown on the right side of the ledger for a single interest. Once you’ve made any corrections, be sure to re-share the interest with the holder as this does not happen automatically.

For more information, visit our support site.

Admins can now easily add acceptance agreements before sharing the interest with the holder.

Easily manage acceptance agreements

It is now easier and more clear to add and gain visibility into acceptance agreements on interests. In the new Acceptance Agreements tab in an interest’s details, you can now select from the documents you’ve uploaded the ones you want the interest holder to sign when accepting the interest. Moving acceptance agreements into their own tab also makes it clear which documents a holder agreed to, or will agree to, during the acceptance of an interest. 

Get started

You can continue to upload files to the Documents tab. In the Acceptance Agreements tab, select from the uploaded documents the ones you want to add to the interest so that it is presented to the holder during the acceptance process. 

For more information, visit our support site.

The new account dashboard page provides an overview of all entities in one place.

Gain visibility across multiple entities

The new dashboard page provides a view into each entity and the recent activities so that you can always keep a pulse on what’s happening with interests across entities. Quickly learn more about recent activities by clicking into them.

Get started

Login to Carta to see the new account dashboard page.

We’re excited to introduce enhancements to interest history which provide admins with a complete record of acceptance text, agreements, and signatures.

Streamline audits with a complete interest history

Admins can now access a detailed snapshot of the moment an Interest Holder accepts an interest , which includes:

• The legal terms that the holder agreed to when accepting the interest
• The legal documents that were attached to the interest when it was accepted, including the operating agreement or interest agreement
• Date and time of when the holder signed and accepted the interest
• Recipient signature and unique signature hash code generated at time of signature

Get started

Find these enhancements in the Interest History tab. For audits, export the interest to PDF by clicking “View as single page” from the interest detail. For more information, visit our support site.

What’s new?

In order to communicate more information about the benchmark data in Carta Total Compensation, we are now providing several metrics to provide greater clarity around both our peer groups and individual benchmarks. This new information includes aggregate sample size data, benchmark confidence indicators, and more information about each job area/level (including details like complexity, autonomy, and scope).

Aggregate sample sizes in Total Comp

The Bands page now highlights the aggregate sample size to give you insight into the data that contribute to Total Comp’s benchmarks for a particular peer group.

How do I locate the aggregate sample size for a particular peer group?

1. Navigate to the Bands page.
2. Select your peer group.
3. The aggregate sample size for said peer group will be listed under the selected peer group.
   
   
4. This includes both the number of records as well as the number of companies which factored into the benchmarks for the specified peer group.

Benchmark Confidence 

Carta provides confidence metrics for sample size, recency, and goodness of fit to understand Carta’s stated confidence in the benchmark for a particular band. Confidence metrics are calculated for the band (job area x level) across all peer groups. 

• Sample size: The number of datapoints included in this benchmark.
• Recency: The relative proportion of newly effective datapoints underlying the benchmark.
• Goodness of fit: The accuracy of the model to predict benchmarks based on trends in the underlying data. 

How do I find the benchmark confidence for a particular band?

You can find the benchmark confidence for a particular band either by:

1. Navigating to the Bands page and hovering over the band to view the band level confidence tool tip.
   
   
2. Navigating to the Bands page and selecting a role within the bands table to launch the Job Breakdown Modal.
   
   

Band Level Details

Band level details provide complete benchmark information all in one place. This includes percentile data for salary and equity, benchmark confidence metrics, and additional details about each job area/level.

1. Band overview: High-level details for the selected band (area x level).
2. Compensation breakdown: Visual breakdown of the salary + equity compensation for the selected band across all target percentiles.
3. Benchmark Confidence: Visualization of Carta’s confidence in the underlying sample size, recency, and goodness of fit for a given benchmark.
4. Band level details: Explainers covering the roles and responsibilities for the currently selected band (job area x level).

How do I enable Insights for Carta Total Compensation?

In order to access the new Insights functionality in Carta Total Compensation, you must first ensure your account is updated to the 2022-07-12 benchmarks. You can update your compensation plan to use the latest benchmark versions either by:

1. Visiting the Plan page and clicking on the "Update available" link in the Active Plan window.

1. Navigating to the Bands page and clicking on the "Update" bubble in the top left.
   
   

You will have the opportunity to preview the new plan with the updated benchmarks version and assess their impact on your scorecard before accepting the new plan.

What's next?

Carta Total Compensation will add the ability to define variable compensation programs and assign them to employees

What's new?

We can automatically pull in crypto trades from custodians including Anchorage, Coinbase Prime, and Fireblocks which allows us to ingest all transactions in near real-time. 

How does it work?

• For Crypto funds, their tokens must typically be held by a qualified custodian. By integrating directly with these custodians, we can ingest all transactions, similar to a bank feed, saving both our clients and fund admin team the effort of notifying each other about new trades.
• We're working towards a future where fund managers and fund admins no longer have to create complicated spreadsheets untangling crypto activity. Instead, we'll automatically import crypto transactions and classify them into accounting entries. Stay tuned as crypto accounting becomes more and more automated!

What do I need to do?

1. Let your fund admin know who your custodian is

2. Provide them a read-only API key from your custodian

3. Notify your admin of any non-custodial wallets your fund uses

4. We'll take care of the rest and get transactions flowing!

How do I learn more or get help?

Visit the resource center for more details

What's new?

We are thrilled to announce that we have automated your Schedule of Investments (SOI) review entirely in the Carta platform. This will streamline the process, saving time and ensuring that your financial statements, IRR, and other performance metrics are up-to-date and ready for distribution to LPs and other stakeholders. 

What’s important or valuable about this change?

At each period end (quarter or year), Carta will request that you verify your Schedule of investments (SOI) is up to date. This includes ensuring that:

• All portfolio investments are recorded
• All valuations of portfolio investments have been marked up/down (if needed)
• Any notes that converted are reflected correctly
• Any assets no longer owned by the firm are realized or written off

These updates will feed into your financial statements, IRR, and other performance metrics that your LPs will see. Many firms keep this information up to date as it happens and simply to confirm it at period end. This process has been made fast and simple.

With this new update, you can now do all of this in a fraction of the time it took before.

What do I need to do?

1. Expect to receive this email within a week after the close of the reporting period. Click Review the Schedule of Investments within the email.

1. Gather any investment documents, portfolio tracking, or valuation information you might need.
2. Review the list of investments and either approve or update via the options provided.
3. After reviewing and making a selection, click Submit to complete the reviewing process. NOTE: No emails or waiting needed. Any valuations will be immediately reflected and your Fund Administrator notified. For more sensitive cases like conversions, a task will be automatically created for your Fund Administrator to complete.

How do I learn more or get help?

Have additional questions about the SOI update? Read the full documentation in our resource center here: How to Review the Schedule of Investments.

SOI Review Play-by-Play

What's new?

We’re excited to share that you can now add pre-existing SAFEs to your Carta account.

Build an accurate cap table with your complete fundraising history

In addition to being able to issue SAFEs, you can now add pre-existing SAFEs in a few clicks directly from your account. Enter a few pieces of information, sign your SAFE, and your cap table is automatically updated.

What do I need to do?

Leverage this feature

Now when you navigate to Fundraise > SAFE Financing and click on Add Existing SAFE, instead of being redirected to the Convertibles ledger, you will be able to enter the information right away and issue the SAFE from there.

The SAFE will be immediately added to your cap table and will be available both on the Convertibles Ledger and the SAFE Financings page.

How do I learn more or get help?

See it in action

View an interactive demo of how to do this here.