Financial Reporting is improving the vesting schedule types supported and updating the UI so it's easier than ever to set it up and generate reports.

What's new?

New milestone award support

Milestones are a type of vesting schedule that can be set up at the grant level and that are vested by admins upon holders accomplishing certain achievements. Milestones can be used as a catch all alternative where a performance condition will not suffice. See this support article for information of what vesting schedule types fall under 'milestone vesting' at Carta.

Milestone awards that were granted historically will true up on the next report run in Financial Reporting. Any expense that would have been attached to these historically will be booked in the most recently run period. Contact 718@carta.com if you would like to discuss how to treat these awards.

Milestone awards with performance conditions are not supported at this point and will show at the errors tab of the disclosure report.

New revamped UI

1. New landing page (for new users)

2. Reduced workflow for setup by applying sensible defaults so users can generate reports with 1 click (for new users only).

3. Dedicated page showing the latest report, so users can easily access it and download again (for all users).

4. New manage settings button (for all users).

5. New report button now located in the report workflow modal (for all users).

Who is this available for?

Nearly all Financial Reporting customers have been updated. If you do not see this new view, please contact 718@carta.com for options on how to get this view enabled.

Anything else I need to know?

If you have any questions or want to talk to an expert about these new changes, reach out to 718@carta.com. 

What’s new?

We have updated salary, total cash compensation, and equity benchmarks for all job areas and specializations across both valuation and headcount based peer groups, as well as for Life Sciences-specific roles 

Benchmark Trends

In aggregate, salary and total cash compensation benchmarks are slightly higher than our last release, increasing by 1%. These increases were consistent across all valuation peer groups and levels. Similar to previous updates, specialization level data continues to change more than the broader sample, as sample sizes for these roles are smaller than job area level data. 

Equity benchmarks are increasing in aggregate, showing about a 2% increase versus last quarter. Similar to last quarter, increases are fairly tightly correlated with company valuation, with higher valuation benchmarks seeing the largest increases.

Updated headcount based benchmarks continue to show larger than typical increases or decreases compared to our initial release for a number of roles. This is a result of additional data, improvements to our underlying models, and feedback from customers.  Going forward we expect these benchmarks to be less volatile over time (similar to our valuation-based benchmarks). 

The same is true for Life Sciences benchmarks. This quarter marks the first update of these benchmarks since their initial release. Since their initial release the sample size underlying these benchmarks has increased significantly (a roughly 50% increase in employee records), which caused larger than typical increases or decreases for a number of roles.

What were the largest areas of movement from these benchmarks?

Salary - Salary benchmarks for most job areas and specializations are within 2% of last quarter’s data. 

Equity - Equity benchmarks are generally within 5% of last quarter’s benchmarks. Roles that are increasing by more than 5% are Partnerships and Strategy.

How do I update my benchmark version?

You can also preview the new benchmarks on your Scorecard by navigating to the Benchmarks page and clicking on the "Preview benchmarks" bubble in the top left.

Here 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.

Questions?

If you have any questions about these new benchmarks, please reach out to your Customer Success Manager.

What’s new?
All PE Waterfall customers now have the ability to easily review and access the formulas behind their waterfall calculations in Carta. 

As an example, Waterfall Formula Traceback allows you to fully explore the lineage of how proceeds are calculated within every single step in the waterfall.

Why it matters:

We know that checking the math is important, not just for you, but your auditors & lawyers. With this release our goal is to build a faster and more intuitive workflow so you can have full confidence in your calculations and communication with stakeholders.

What do I need to do?

This feature is automatically enabled for all existing waterfall customers. If you’d like to try our waterfall you can reach out to your account manager or schedule a demo here.

What’s new?
All Waterfall customers now have access to a new toggle that allows the modeling of allocations under the assumption that the cap table is fully diluted, i.e. all reserved units in an incentive pool are allocated. 

What do I need to do?

This feature is automatically enabled for all existing waterfall customers. When running a waterfall, click on “Customize advanced settings” to allocate all of the units in an authorized pool. If you’d like to try our waterfall you can reach out to your account manager or schedule a demo here.

Overview
We’re excited to introduce an enhancement to Carta’s cap table functionality, designed for companies managing equity in multiple currencies. This update brings improved clarity and accuracy to cap table displays by respecting each currency's unique value, making financial data more reliable and transparent.

What’s New?
With this update, Carta now clearly breaks down values by currency across essential sections of your cap table, including:

• Total Amount Raised
• Share Classes
• Stakeholders

By treating each currency independently, Carta provides an accurate, transparent overview that better reflects your company’s financial landscape.

Why This Matters
For companies with two or more currencies, this update eliminates the need for manual adjustments and off-platform calculations. The result is a streamlined cap table experience that supports accurate financial reporting and decision-making across diverse currencies.

Where can I see it?

1. Cap Table > View by share class
2. Cap Table > View by stakeholder 
3. Monetary fields in the following Reports: Cap Table; Stakeholder Ownership Details; Equity Awards Outstanding; Equity Plan; All Exportable Securities Data; Canceled and Returned Report, Certificates Ledger, Equity Plan Granted; Options Outstanding Report; Securities Ledger; Stakeholder Share Registry; All Stakeholders Ledger; Historical Terminations; Termination Modeling

If you have any questions, please refer to our detailed support article or reach out to your Customer Success Manager.

What’s new?

Fund Managers can now use Carta to complete their CTA BOIR submissions to FinCEN with our CTA reporting tool.  

What’s important about this change?

The Corporate Transparency Act (CTA) requires certain business entities to submit a beneficial ownership information report (BOIR) to FinCEN. We’ve made it easy to submit this report with our CTA reporting tool.

Our tool uses information already on Carta to pre-populate required beneficial ownership information, saving fund managers time when filing. Plus, fund managers can rely on our reporting tool to understand the reporting deadline for each of their entities. 

How does it work?

Fund Managers can go to the CTA Reporting tab within the Tools & Services navigation menu to access Carta’s CTA feature. Upon navigating to CTA Reporting, the Fund Manager can select the entity they are filing a BOIR for.

If the reporting entity is not exempt, they should proceed with filling out the three sections of the form: Company Information, Beneficial Owners, and Company Applicants. 

The Company Information is prefilled for the entity including the legal entity name, US business address, and tax identification number. Review and confirm that all prefilled information is current and accurate.

Each Beneficial Owner’s name and address  will be prefilled, if the information is available, for any partner within the entity account who is an individual that has subscribed for 25% or more of the entity’s total commitments. Review details and Beneficial Owner status for all prefilled information to confirm it is current and accurate, or make any corrections needed.

Control persons and indirect owners of 25% or more are not prefilled, so you will also need to add any control persons or individuals who indirectly own 25% or more as additional Beneficial Owners. 

The Company Applicants section is only required for entities incorporated or formed on or after January 1, 2024. Reporting entities that fall into this category will need to provide the company applicant information.

Last, review the information and submit to FinCEN. You’ll get a confirmation screen to let you know the report has been filed.

Carta does not determine the exemption status of the reporting entity. Confirm with your legal team on your entity’s exemption status. For more information on FinCEN exemptions, refer to the FinCEN BOIR frequently asked questions.

How do I learn more?

For more information on the new CTA Reporting feature, reach out to your Account Director. For additional information on the new FinCEN CTA requirement, read our blog post on How Corporate Transparency Act impacts private funds.

What’s new?

Up until now, all equity benchmarks in Carta Total Compensation have been based on fully diluted ownership percentage. While it’s common practice for most early to mid-stage startups to base their equity grants on percentage ownership, later stage companies tend to denote their equity grants in dollar values.

To better serve those companies, equity benchmarks based on notional value are now available on the Benchmarks page. These new benchmarks are available for the $500 million - $1 billion and Greater than $1 billion post-money valuation peer groups. These benchmarks reflect 4-year new hire grants calculated based on number of shares multiplied by preferred price on the date of grant.

How can I access the new notional value benchmarks?

1. Navigate to the Benchmarks page in Carta Total Compensation
2. After selecting either the $500 million - $1 billion or Above $1 billion peer group, in the Equity Unit dropdown menu, select “Notional Value”

For this initial release, these benchmarks are only available on the Benchmarks page. We will be integrating notional value benchmarks into other parts of Carta Total Compensation in the coming months.

Questions?

If you have any questions about these new benchmarks, please reach out to your Customer Success Manager.

What’s new?

We’ve launched a new Partners Dashboard that gives Fund Administration customers firm-level visibility into their LP relationships. You can now group your LP investments, assign them custom tags, and see consolidated performance metrics (TVPI, IRR, DPI, etc…) and investment data (commitment amount, capital activity details, NAV, etc…) across all your LPs in your firm.

How does it work?

Access the New Partners Dashboard: The dashboard is a brand new page that can be  accessed via the Partners tab on your left-hand navigation bar in Carta. Click here for a walkthrough.

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LP Grouping: Organize your LP investments into custom groups to mirror how your firm views LP relationships. Learn how to use groupings here.

Tagging: Customize your view by creating custom tags for LPs such as LP type, geography, or any custom tag your team uses to categorize LPs. You’ll also be able to filter based on tags and see consolidated LP metrics across your tags. Learn how to use tagging here.

Custom Views: Apply filters based on tags or entities, add/remove columns of data, and save your custom view(s) so you can quickly access specific filtered dashboards of data you care about. You can also export these filtered views to excel. 

Partner Detail Pages: Click into each LP group to see the details of each LP investment within that group. On this page we show various levels of aggregated metrics as well: by the entire LP group, by each of the LPs legal entities, and by entity they’ve invested in for scenarios where they’ve invested in one of your entities through multiple legal entities. 

How do I learn more?

Here’s a support article and some recorded walkthroughs for an overview of the Partners Dashboard, instructions on how LP Grouping works, and how to set up LP Tagging. If you have any questions or feedback, reach out to your dedicated Account Director to schedule a call.

We’ve made it easier to find the tools and information you need in your Carta Fund Administration software.  So far, we have rolled navigation changes out to a small group of customers and will continue the roll out through October.  Here’s an overview of the most important changes:

We've deprecated the Overview tab so you can easily find Entities, Investments and Partners.

• Subtabs such as fund performance, capital activity, statements, accounting, etc  (previously located in the Overview tab) will now be found in the Entities tab.
• Entities, Investments, and Partners tabs will now be found in the left-hand navigation menu.
• The left-hand navigation menu will be reordered with key tabs at the top and add-ons, settings, and tools in the section below. 

The Activity tab is now the Dashboard

• The Activity tab will now be named “Dashboard” and will be your new homepage when you login.

We’ve improved  Entity Selection.

• A persistent "choose entity" selector will be at the top right of the Dashboard. This way, when you select an entity, you can navigate to different subtabs while keeping the selected entity.

Cap table access is essential for understanding your investment portfolio, but companies often wait for a request before granting it. Our goal is to equip investors and portfolio companies with the tools to request and grant access securely. With our latest release, investment firms now have robust tools to manage cap table requests, ask for the specific data levels they need, and follow up with companies to secure access.

What’s new?

We’re making it easier for investment firms to request and manage cap table access from their portfolio companies. :

• See how many portfolio companies are on Carta, your access status, and any open requests. Sort and filter by access level, company name, date, holdings, and status.
• Send bulk or individual requests and reminders for cap table access in two clicks.
• Export reports with access levels, request details, company status, and contact info for investor questions.

Who is this available for?

All users with “admin” permission in your investment firm.

How do I use it?

To access the page, navigate to your investment firm account, click on "Tools and services" in your sidebar, and select "Cap table access." You may also receive a prompt from the Investments Overview page to request access.

Anything else I need to know?

If you are not sure what levels you will need access to, Advanced is the most common level we see granted for investors. Portfolio companies can always choose to respond with Basic access, if they do not want to grant advanced.

If there are additional enhancements you would like to see here, you can provide feedback via Carta Community.