What’s New

Easily and securely share financial statements as part of your investor updates. Connect directly to your accounting system, select the desired time frame, and include a one-time snapshot of your financials in your next investor update – all within Carta’s investor updates tool. 

Why is it Valuable

Most portfolio companies send investor updates once a quarter. With a one-time setup to connect your accounting system, you can make all future updates faster, easier, and more comprehensive for both you and your investors. 

Easily select and review financial statements before sending. Using Carta’s communication center, you can control who sees your data, conveniently import your investor list from the cap table, and allow investors to securely view and reply to your updates—including cap table and financial statements–all in one centralized, trackable location.

How does it work

You can set this up by:

1. Get your Quickbooks or accounting software login information
2. Navigating to your Carta account
3. Go to the Communications Center
4. Click on ‘New Message’
5. Choose any template you want to update your shareholders about
6. Under import financials click Connect to use QuickBooks or See all for the other providers available

1. Once you’ve prepared connecting your accounting system and composed your investor update, you can review your financial statements. 

1. In the review screen you view the data from your accounting system, select the period, and add notes you want your investors to see alongside the data. 
2. After you submit the investor update message with the imported financials, the financials will appear under Company Financials view.

What recipients will see:

1. After a message is sent, the recipient receives an email notification with a link to view it. 
2. New users are prompted to create an account, while existing users are taken directly to their Carta inbox.

1. If financials have been imported, the investor will be able to click View Company Financials link and view the uploaded documents directly in the Financials tab, monthly and quarterly view.

Who is this for?

Authorized company administrators or users with the new Investor Relations permission, can set up the financial integration and send messages to investors through the communications center.

How do I learn more or get help?

Learn more about our Investor Updates and Communication Center here. For feedback about this new feature, communication center, or Carta you can reach out here!

What’s New?

We’re making improvements to streamline Restricted Stock Awards (RSA) management on Carta. 

• Automatically assign the issue date once stakeholders accept their RSAs
• Forfeit unvested RSAs at termination instead of repurchasing them
• Clearer legal language and displaying all attached documents during acceptance

Automatically assign the issue date once stakeholders accept their RSAs

When RSA payment is complete, company admins can confirm the payment date at Carta to trigger the acceptance workflow in Carta. By automatically populating the issue date as the day of acceptance, this eliminates the need for company admins to retroactively update the RSA issue date. 

How it works

1. When an RSA has been released from draft, it will appear as a new status called waiting for payment
   
   
   
   
   
2. Enter payment details by clicking to the right of the table and selecting "Enter payment details"
   
   
   
   
3. On the enter payment details screen, enter the date the RSA payment was processed offline
   
   

4. Once the RSA has payment date has been entered, the status will change to waiting for acceptance, and the securities will be sent to signatories to review and sign.  

5. The RSA will not have an issue date up until it is accepted by the stakeholder. When the RSA is accepted, the issue date will automatically be assigned as the date accepted.

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Forfeit unvested RSAs at termination instead of repurchasing them

RSAs can now be forfeited rather than repurchased at termination. Users can now choose to automatically forfeit unvested shares or require a repurchase to return shares to the pool.

How it works

Under the Unvested RSA Behavior column, user can assign a new status: 'Forfeit unvested shares' to automatically forfeit unvested shares upon termination.

Clearer legal language and displaying all attached documents during acceptance

During acceptance, RSA recipients will see updated legal language for RSAs, encompassing the legally binding nature of accepting those securities at Carta. Holders must also agree that they have read and accept the attached documents before finalizing acceptance. 

How it works

New dedicated tab for accepting RSAs

New acceptance screen with updated legal language and new document references

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Who is this Available For?

You can now access these updates as a Carta company administrator. Whether handling standard RSAs or RSAs for services, you’ll find it easier to keep your cap table in sync with legal documentation.

Anything Else I Need To Know?

While the attachment of supporting documents is optional during the RSA setup, ensuring they’re available during the review can help streamline administrative reviews and future audits. Refer to our support site for additional guidance on managing RSA transactions.

Companies and investors using our waterfall and exit modeling tools, can now model out the impact of a Change in control premium on their convertible notes. The waterfall tool will now calculate the payout value for convertibles based on the change in control premium and the exit value inputed. 

Example: Investor's view of an exit with Convertible notes that have 200% change in control premium

Companies and shareholders can review the terms of a convertible note in the Certificate details modal in their portfolio or on their cap table.

We've launched a new guided "Get started" workflow for companies that sign up to get QSBS Attestations from Carta. After signing up for a QSBS review with Carta the feature will guide you to provide the Carta Valuations and Tax team the necessary information to perform the attestation.

After signing up the guide simplifies the process of connecting a your company's accounting provider to Carta, making it easy to provide the necessary financial data for your QSBS attestation. This integration will help Carta's QSBS Delivery reduce the back and forth needed to collect historical financial information about your company

For companies that either do not use one of our supported accounting providers, the guide offers a way to manually upload financial statements, guided by questions that adapt based on your companies size and stage.

This new guide will make it easier and faster to onboard onto our QSBS product, and ensure a timely review from Carta's team. If you have any questions reach out to your assigned Carta account team or qsbs@carta.com to learn more!

We are continuing to enhance the experience for companies reflecting the fundraises through Carta. 

What’s new?

Our Draft Certificate Experience can extract information from Stock Purchase Agreements (SPA), saving company administrators time when issuing investor shares after fundraising.

Who is this available for? 

All company administrators can upload and extract data from Stock Purchase Agreements to reflect priced rounds.

Main Value Proposition

The Draft Certificate Experience powered by document extraction saves you time, money, and makes sure your cap table data matches the legal documents after certificates are issued from a new round.

How do I use it?

1. Navigate to Securities, then Shares

2. Click "Draft Shares", then select "Create a new draft set"

3. Select Yes to confirm the draft set is related to a new investment round and click "Create new draft set" to proceed. You can change the Draft set name at this point.

4. Drop the Stock Purchase Agreement, select the effective date and click continue.

5. Wait for our AI tool to extract the document's information and populate the draft set.

6. Scroll all the way to the right to find the SPA attached to the certificates.

7. Once the certificates are issued, you can find the SPA under the Documents and Notes tab when clicking to see the certificate.

Anything else I need to know? 

Attaching the Stock Purchase Agreement is not mandatory for issuance. You can choose to remove the document during step 6, while the certificates in draft are being reviewed and updated.

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

The new fundraising feature helps founders, working collaboratively with their law firm and investors, close a priced round end to end on Carta. It provides a workflow and centralized hub that facilitates administrative tasks related to closing a deal.

Founders and their law firm will have a dashboard that provides 

• real-time fundraising benchmarks
• a snapshot of the status of their round letting them run closings-related tasks such as generating signature paperwork, building pro formas and managing the round
• ability to track signature status, send reminders and view the wire status

Investors will also get their own convenient dashboard to view the deal timeline, sign paperwork, view deal docs and wire instructions.

And after you complete a priced round, we automatically update your startup’s cap table to reflect the new investment, and issue certificates to investors.

Why this matters

Today running a priced round is complex and incredibly manual. A deal is closed mostly offline using a mix of spreadsheets, emails, phone calls, and signature applications to complete the work. There are also a number of moving parts such as signature page drafting, collecting signature blocks, sending out documents and reminders to investors, collecting signature pages from convertibles, tracking, and updating status, confirming wires etc.  

It requires a great deal of manual work by the law firm, and lacks transparency for founders and investors. Not to mention the high cost of priced rounds for all parties involved.

How can I access it

You can access the Deal Closings feature by navigating to the “Raise funds” navigation menu item if you’re on Carta’s free plan. Or navigate to “Fundraise”-> “Priced rounds” navigation item if you’re a paid Carta customer. Read more on how to use this feature here

What’s new? 

Carta has released a new tender offer issuer dashboard for company administrators, exposing the most critical actions and information during periods when sellers are placing orders.

This dashboard highlights the following information:

• Aggregate sell orders placed relative to buyer demand: emphasizes situations where sell orders exceed quantities to be purchased and must be reduced algorithmically for settlement
• Rate at which eligible sellers across customizable stakeholder categories view the offering and place orders
• Sell orders placed over time, highlighting spikes in trade activity or large order cancellations
• Better organization and management of in app seller data

How do I use this tool?

Log into your Carta administrator account during an active tender offer order period and navigate to the Secondaries menu. Select an active tender offer event and you will land on the dashboard.

What’s next?

This release covers the issuer experience for the  period during tender offers when sellers can enter orders. In the near future, we are expanding this dashboard to provide an improved issuer experience both before a tender offer launches and after it closes:

• Pre launch: information and configuration experience prior to the start of a tender offer
• Post close: key transaction information and improved administrator experience

Questions?

If you have any questions about Carta liquidity, please contact us at company_coverage@carta.com

Data is critical for founders to make informed decisions when fundraising and hiring. We are now offering early stage founders benchmark insights on early stage rounds and first engineering and marketing hires. 

What’s new?

A centralized hub makes it easier for founders to access and interact with fundraising and hiring benchmarks.

Fundraise insights provides information on early stage SAFE and priced round market terms and how they compare to other companies in related stages, regions, and industries.

• Percentiles for company valuations over the last year
• Median cash raised per round over the last year
• Calculations of the dilution on your cap table based on market round terms

Hiring insights provides information on how much to pay early marketing and engineering hires.

• Option pool size across seed, Series A, and Series B companies
• Percentage of total company equity in initial 4-year grant
• Available for New York/San Francisco.
  
  *More job areas, levels, and locations are available on Carta Total Compensation

Why this matters:

These updates enable founders to navigate fundraising and hiring strategies with precision and insight. This resource enables founders to make data-driven decisions and strategically plan for their company's growth, optimize their fundraising strategies and ensure their hiring packages are competitive, setting their teams up for success.

How can I access it?

Market Insights is available on all Carta plans. Find it under Essentials>View market insights. For more information visit our support article.

What's new?

As part of our ongoing efforts to enhance accuracy and reliability, we have transitioned our Canceled and Returned report to Carta's Equity Reporting Suite service.

What does the new report offer?

• Consistent Date Formatting: All date columns are now displayed as MM/DD/YYYY for consistency across reports.
• Standardized Security ID Field: The "Security ID" field is now uniformly formatted across all new reports, facilitating easier reconciliation.
• Uniform Quantity Columns: All quantity-related columns, including "Quantity Issued," "Quantity Canceled," "Quantity Forfeited," "Quantity Repurchased," and "Quantity Transferred," are now displayed consistently to simplify reconciliation.
• Detailed Transaction Type Field: The new "Transaction Type" field replaces the old "Reason for Cancellation" field. This new field offers more detailed transaction discrimination and resolves previous issues with reconciling shares returning due to grant life expiration (now tracked under "Lifetime Ended"). It also tracks options canceled due to repricing.
• Termination Date: A new "Termination Date" field has been added to further streamline reconciliations.

How can I access it?

To access the new Canceled and Returned report, click on Run reports under Essentials or navigate to Cap table and select Run reports.

Where can I learn more?

For more information on Carta's equity reports, please refer to our dedicated support article.