Carta Release Notes - Product Updates

6 years ago4/30/2020

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.

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an Operator and a Signer can retract unsigned compliance certificates (e.g. certificate was filled out in error or is no longer applicable).

George Cen

6 years ago4/27/2020

Mandating stakeholder relationships

Carta requires that every security should have a stakeholder with a valid relationship. To further ensure the accuracy of reports, “Relationship” and “Effective date” will now be required every time we add new stakeholders or edit an existing stakeholder. You can add one or multiple relationships for a stakeholder.

Add Stakeholder Modal:

Edit Stakeholder Modal:

When you go to the edit stakeholder modal, you will now see all existing relationships for the stakeholder. You can add additional relationships or edit existing relationships both in this modal and in the “Edit stakeholder properties” modal.

Connor Bathen

6 years ago4/23/2020

Taxes for international wire exercises

Administrators from private and public companies using Carta’s international wire flow can now capture taxes.

Carta’s international wire exercise flow now captures tax withholding amounts for cash exercises entered by participants in-app.

Upon reviewing and approving exercises of international participants, the administrator is able to update the tax withholding amount:

Upon approval of the exercise, the withholding amount will flow through to:

Bryan Wells

6 years ago4/23/2020

Net settlement of RSUs for participants using outside brokers

Carta’s public company administrators can create RSU settlements for participants that wish to move their net shares to an outside broker.

Carta’s new “Non-Carta broker net withholding” settlement type allows for administrators to easily designate its participant population that wishes for its shares to be moved to outside broker accounts after settlement.

By selecting this option when creating an RSU settlement:

To use this feature, select “Non-Carta broker net withholding” and include only the participants that want their shares to go directly to other brokers (and not their Carta account). Then confirm taxes and approve the settlement as usual.

Bryan Wells

6 years ago4/23/2020

All Fund Investment page for Limited Partners

Limited Partners can now see details of all of their fund investments in one place. The new All Fund Investments page allows Limited Partners to see their investments across firms and funds that they’ve invested in. This allows Limited Partners to understand the status of each commitment.

At the top of the page Limited Partners will see anything that they need to take an action on, such as capital calls or recent documents.

In the All Fund Commitment section, Limited Partners have a complete overview of all of their commitments on Carta. These can be sorted by firm or investing entity so that Limited Partners can better understand their investments.

Ashley Chang

6 years ago4/22/2020

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:

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:

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

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

Vince Lo

6 years ago4/22/2020

HR Administrator Permissions

Today, all of Carta’s private, corporate customers have access to a new permission level in Carta: the HR administrator.

Carta’s product and business are built around the cap table, so historically, it made sense to offer user permissions that reflected the importance of seeing and managing cap table details.

But as our customers scale and the job functions within their businesses become more specialized, finer access control becomes increasingly important. Specifically, our customers with HR teams were asked to make a tough decision: should I give my HR team the ability to do their job efficiently but expose sensitive cap table information to them, or should I completely prevent them from accessing Carta at all?

The new HR Administrator permission level looks to eliminate that decision by allowing HR team members to access Carta without seeing cap table information. Users assigned the permission can:

Head over to the “Permissions and roles” page in Carta to begin adding your HR team:

Vince Lo

6 years ago4/8/2020

SBA Paycheck Protection Program - Applicant ownership detail report (Beta)

In this difficult time for many private companies, our team has been monitoring the public policy closely and thinking through ways in which Carta can help our customers.

Today we launched the SBA Paycheck Protection Program - Applicant ownership detail report in Beta. The report allows company admins to download all the information they need to populate the Applicant Ownership section in the SBA Borrower application form. You can download the report under the capitalization section of your reports page.

We hope this helps you easily get the data you need from Carta to apply for the Paycheck Protection loans and create more owners!

Jordan Agnew

6 years ago3/31/2020

New navigation for Limited Partners on the LP Portal

It’s now easier than ever for Limited Partners on Carta to navigate the LP Portal. With our updated navigation system, all users with a fund investment on Carta will see a new sidebar to navigate their investments. Both companies and funds are visible and easy to access.

We’ve also updated the experience for Limited Partners with multiple investing entities to easily understand their investments into a single fund.

For Limited Partners with access to fund performance for their funds, we’ve upgraded this experience to show TVPI, RVPI, and DPI in addition to IRR.

Ashley Chang

6 years ago3/26/2020

Improvements to the security acceptance process for investors

If you are a user who manages an investment firm, we’ve released a new process to accept securities into your account.

When a company issues a security to a fund or trust that is not yet on Carta, the user is prompted to create a new fund or trust and place it in the correct account. In the past, there was a single page that presented the investor with options of how to proceed. On this prior page, investors would often accidentally create a new entity or incorrectly accept the security into an existing entity.

Today, we released a step-by-step walkthrough that guides the user to create the correct entity and place it into the correct account. For investors new to Carta, this will reduce confusion and mishaps. For long time users, this adds clarity to a crucial step in the acceptance process that they have done many times before.

Jeff Leathers

6 years ago3/9/2020

Recent modifications to LLC equity reporting and terminology

We’re releasing some much-needed improvements to LLC equity reporting. This is a continuation of our team recently made some small but impactful improvements to equity reporting and terminology for LLC companies issuing PIUs (Profits Interests) and/or CBUs (Cash Bonus Units):

Ledger Report by Type report now contains Base Value and Threshold Value for PIUs

The PIU Ledger tab of the Ledger Report by Type report now contains columns for Base Value and Threshold Value. These values can be found on the PIU Ledger tab to the right of the stakeholder details columns.

When modifying PIUs, Cash Paid field has been renamed Base Value

We’ve updated our terminology from Cash Paid to Base Value to better reflect the function of this field and for consistency across the platform. To view this change, navigate to Securities > Equity awards, select Profits Interests as the equity type, and select Modify profits interest from the V-dropdown menu on the right hand side of the screen. You’ll see the updated field in the “Transaction value” section:

Securities Ledger by Type and Class report now contains a ledger for CBUs

For companies issuing CBUs (Cash Bonus Units), a dedicated CBU Ledger has been added to the Securities Ledger by Type and Class report.

Justin Lo

6 years ago3/5/2020

Scenario modeling exports

We’ve released a new feature to our scenario modeling tool that let’s you download the waterfall analysis into an excel spreadsheet or a PDF report.

To download an excel spreadsheet or PDF version of the waterfall analysis, navigate to the Capitalization drop down menu, select Scenario modeling and go to the Waterfall tab.

If you’ve already created and saved a waterfall analysis, you will see those waterfall models listed at the bottom of the page. Select the drop down menu next to a waterfall analysis and you will see new options to export to excel or to PDF.

If this is your first time creating a waterfall analysis, you will want to enter an exit value, select the cap table you wish to use in the analysis, add any non-convertible debt held on the balance sheet, and select your projected exit date.

Then select view results to see the waterfall analysis. Here you will see options to export the analysis in the upper right hand corner.

If you are an Investor, you also have access to the new scenario modeling export feature. Exporting a waterfall analysis for your portfolio comapnies can be done here:

Additionally, when running a new waterfall analysis, you will be able to export the analysis after selecting View results.

EJ Jacoby

6 years ago2/13/2020

Introducing Dark Mode on iOS App

We’re enhancing the Carta experience on iOS by introducing Dark Mode. Dark Mode gives Carta a sleek new look that’s easier on the eyes in low-light environments.

How to Enable Dark Mode on iOS:

For iOS 13, enable dark mode by going to Settings > Display & Brightness > Appearance: Dark

Hassan Waheed

6 years ago1/27/2020

NSO Option Exercise on iOS App

We’re releasing an update to the iOS app to support NSO option exercises!

To begin, you will need:

Once you’ve installed the latest version of the app, head to the option grant that you intend to exercise. If exercising is available, you can click on the “Exercise” button to begin.

After you submit the exercise request, the issuing company will approve the exercise request, which will initiate the funds transfer from your bank account to the company bank account. Lastly, the resulting certificate will be created, signed by the officers, then sent to you to accept. You’ll receive email updates from us as your option exercise progresses.

Don’t have the app yet? Get it Now!

Hassan Waheed

6 years ago1/21/2020

LP Fund Commitment Updates

Carta partners with fund managers to provide a great Limited Partner experience. Today, we released an update that makes LP fund commitments easier to navigate and understand.

Our previous experience spread information about fund commitments across several pages. Now, we’ve made key information like commitment amount and vintage year available on a single overview page.

We have also seen that many LPs struggle to find important documents, so we’ve brought recent documents onto the the fund commitment screen.

We’re excited to continue building a better LP experience. If you have any questions or feedback, please let us know at investorservices@carta.com

Ashley Chang

6 years ago1/13/2020

ISO Option Exercise on Android App

We’re releasing an update to the Android app to support ISO option exercises!

To begin, you will need:

Confirm that you’re currently a US resident to help the platform guide you through your potential taxes correctly. Before exercising, it is recommended that you consult your personal financial advisor or tax professional to make sure exercising is right for you.

Once you confirm that you’re a US resident, you’ll be able to:

Once you’ve filled out all exercised details, you’re now ready to exercise. Before clicking “Exercise”, ensure that you read the terms of the exercise, review all linked documents, and agree to the withdrawal of funds to pay for the exercise.

Don’t have the app yet? Get it now!

Hassan Waheed

6 years ago1/6/2020

A new feature to bulk modify stakeholder data on Carta

If you are an equity administrator who needs to keep stakeholder data 100% accurate and up-to-date, we’ve released a new feature that allows you to update email addresses, payroll IDs, employee IDs, and other fields on Carta for more than 1 stakeholder at a time. Maintaining accurate stakeholder data is critical for a number of reasons:

To bulk update stakeholder data on Carta:

  1. Navigate to Stakeholders --> All Stakeholders --> Manage stakeholders --> Update Stakeholders

  2. Select the data fields you would like to update and hit Download. This will produce a custom spreadsheet for you to edit in excel.

  3. Edit data directly on the spreadsheet and save. Please do not move columns around.

  4. Return to Carta to upload the spreadsheet you had just edited and saved. Hit Submit updates and confirm the changes you are making on Carta. Carta will run a set of checks to make sure everything looks correct. We only run checks on the stakeholders you have modified. Once the checks have passed you will see a confirmation page and you’re all set!

Resolving Errors

If we detect some errors in the data you edited, we want to help you resolve them before making the changes on Carta.

  1. When you hit Submit updates and you have outstanding errors to resolve, hit Download Errors Spreadsheet. Clicking this button will download a spreadsheet of the errors we found with instructions on how you can resolve them.

  2. When you open the spreadsheet, you will see the associated stakeholder with an error highlighted in red. Hover your mouse over to the first column to read a brief description on how you can resolve the error. Make the changes directly on Excel once again and hit save.

  3. Return to Carta to upload the edited spreadsheet and submit again.

Coming soon: updating stakeholder properties in bulk.

If you have any questions or feedback for this new tool, please send a note to angela.jo@carta.com

Gwynne Burgess

6 years ago11/1/2019

Easier LP access to capital call notices

If you manage a fund, we know how important it is to provide a great experience for your LPs. That’s why, for customers of our Fund Administration service and LP management products, we are making it easier for your LPs to access capital call notices.

Previously, LPs would receive an email informing them that the fund was issuing a capital call. Then they would have to log in to the Carta website in order to view the capital call notice and find the payment details. Often, things would become complicated if the LP didn’t remember their credentials, or delegated the payment task to a colleague.

In our latest release, we have made things simpler for LPs. When you or our Fund Administration team create a capital call, you will now get to choose whether your LPs will be required to log in to view the notice. If you choose No log in required, the email your LPs receive will include a secure link that takes them directly to the notice. Anyone they forward the email to will also be able to use the link.

The link will expire after 15 business days. After that, LPs will be required to log in to view the notice, which will be available in their Documents folder.

We are always looking for ways to make life better for GPs and LPs. If you have any questions or feedback, please let us know at investorservices@carta.com.

Ives Chor

6 years ago10/7/2019

Good Till Cancel (GTC) Orders

If you have stock options or common stock from a public company, you can now place limit orders that will remain outstanding for up to 30 calendar days. If you are attempting to sell at a particular limit price, selecting Good Till Cancel will allow the order to trade for multiple days without re-entering each day.

Upon entering a cashless exercise and sell, cashless exercise and hold, or stock sale, selecting Limit order now enables the choice of Day or Good until cancelled.

Selecting Good until cancelled enables you to place an order that remains outstanding until the earlier of 30 calendar days, or your entry into a trading blackout.

Following placement, you can view your order in the Orders screen. This view now shows order duration, where you can track both Day and Good Till Cancel orders, in addition to the date that the orders will be cancelled if they are not executed:

Bryan Wells

6 years ago10/2/2019

Introducing an Exercising Simulator for option holders

At Carta, we want to make big decisions like exercising simple and easy to understand. To that end, we’re excited to announce that we’ll be launching a new simulator tool!

Presets

Estimate your costs

To further provide context and helpful information, we’ve introduced the following estimates for all scenarios at the top of the tool. They are:

To support this, you will be able to enter in standard tax data per scenario.

You can also drill down about each type of cost by clicking on the View Details button on the right. Below is an example of how we explain Pre-tax cost.

If you have any questions or feedback for this new tool, please send a note to catherine.stark@carta.com

Gwynne Burgess

6 years ago10/1/2019

Updating Emails for Stakeholders

If you are a company administrator making updates to stakeholder emails on Carta, we want to make sure all stakeholders at your company receive their certificates and grants to the correct email address.

We introduced tooltips to provide more context on the difference between a “Portfolio Email” and a “Contact Email.” A portfolio email is the email address associated with a stakeholder’s securities. For brand new stakeholders who haven’t accepted their security on Carta, we will show a “Pending” label. For stakeholders who are non-individuals (law firms, investment firms), it will read “Investor Portfolio.”

A contact email may be used to track the contact information for the individual or non-individual stakeholder.

To modify a stakeholder’s email address on Carta, visit the dropdown on the right hand side.

Update the email field with the correct email address for the stakeholder and hit Update.

On Update, you will see a step that asks you to confirm this change. For stakeholders who have not accepted any securities, we will send the stakeholder a new email to the updated email address so they can accept their securities.

The stakeholder will receive an email to accept their security. When she accepts, the Portfolio Email column will update with the email the stakeholder used to accept their security.

Upon accepting a security, you may not edit the Portfolio Email for the stakeholder. You may only update the “Contact Email” -- email used for a company’s record keeping/communication purposes.

To update the contact email for the stakeholder, you will see a message that asks you to confirm the change.

If you have any questions or feedback about this new feature, please write to growthproduct@carta.com.

Vince Lo

6 years ago9/18/2019

Improvements to self-service onboarding for Founders

We’re excited to announce that we’ve released a new version of self-service onboarding workflow for founders. The new release includes design improvements, more contextual links to support articles, and the ability to add a vesting commencement date for your stakeholder’s holdings.

More contextual links to guide founders in filling out their onboarding data accurately and quickly.

If you have a vesting start date (or vesting commencement date) that differs from the date of the original issuance, you can now enter it in when you input holdings information for individual certificates.

If you have any feedback or questions about our founder’s onboarding flow, please send a note to growthproduct@carta.com

Connor Bathen

6 years ago9/12/2019

Integrate Carta with BambooHR

In Open Beta today, Carta now offers an integration with BambooHR, a leading provider of HR software!

Carta Companies on the Scale and IPO Ready plans using BambooHR can set up an integration in minutes and benefit from a seamless, secure integration that keeps employee information up to date in Carta, improving data accuracy and reducing the risk of error.

Email integration_requests@carta.com or your Carta Relationship Manager to learn more about getting access to this feature.

When you integrate Carta with BambooHR, you can use the integration to:

  1. Auto-update stakeholder profiles in Carta as the corresponding employee record is updated in BambooHR
  2. Auto-terminate stakeholder profiles upon an employee’s departure

IT, HR and Finance leaders can rest assured that employee new hire and termination events are accurately reflected in Carta, creating the best possible experience for stakeholders, employees, and administrators.

Carta customers can follow the simple steps in this how-to-guide to get up and running: How to set up an integration with BambooHR.

Learn more about how the integration works by reading this topic-guide: How does Carta integrate with BambooHR?.

Des Duggan

6 years ago9/10/2019

Technical improvements to navigation

The Design Technology team at Carta is upgrading the top level navigation of our app, to use the latest Ink Design System improvements.

With this change, we will be able to support future design and navigation improvements planned for 2020.

There will be minor visual changes. We’ve increased contrast and legibility with white dropdown menus, and you might notice a few different colors here and there. Functionality remains the same.

Note: there is no change to menu items or to the way you get to different corners of the app. This update is unrelated to the navigational structure of our site.

For feedback, please reach out to design-technology@carta.com.

Gilmar Lira

6 years ago9/10/2019

Retract Board Consents

We’re excited to announce that we have introduced the ability to retract a board consent on Carta!

Retracting a board consent is easy. Simply click on the “Actions” dropdown on the details page and select “retract consent”:

You can also retract a consent from the board dashboard by clicking on the grey dropdown and selecting “retract”:

Once you retract a consent, it will move the consent back into “draft status”. A consent can only be retracted if no board members have approved it.

We hope this helps make drafting board consents easier and more intuitive!

Connor Bathen

6 years ago9/4/2019

Major Update: Carta App for Android

We’re bringing a large update to drastically enhance the Carta experience for Android customers.

Register for you account in a few quick steps, set up fingerprint authentication for easy access, accept securities, and track vesting schedules within the new app.

As an investor, get real-time IRR and company performance information on the go!

Get the app now!

Alex Legault

6 years ago8/21/2019

Track reported issues from stakeholders

As a company administrator, you have been getting emails when stakeholders report issues about their holdings. Now, we aggregate reported issues in one place and allow you to “Resolve” or “Dismiss.” Under the company drop-down, you will find a new section called “Reported Issues.” This will take you to the ledger of reported issues.

When you resolve an issue, add a note to send back to the Stakeholder. You may also choose to dismiss the issue, which will prompt you to enter a note for the reporting stakeholder.

This feature is being rolled out in Beta this week. If you have feedback, please reach out to product@carta.com.

Connor Bathen

6 years ago8/16/2019

Add board members to company account during onboarding

If you are a company or legal administrator, you will now be asked to add a board member to the company’s account during onboarding.

Why add board members during onboarding?

Board members are one of the most important stakeholders of a company. At Carta, we’ve built some features around board management and governance that make it easier for board members to streamline all their processes on Carta. For example, Carta makes equity grants even more efficient for board members by allowing board consents to be drafted and approved so that you can issue option grants to stakeholders without waiting for the next board meeting.

There is a new task in the Onboarding Setup Guide that requires companies with less than 25 stakeholders to add a board member to their account before going live.

If you’re a law firm user onboarding a company to the free Carta Launch Plan, you will see the same task in step 3 of the Launch Setup Guide.

When the company’s board members are added to the account, they will immediately be sent an email asking them to create their account and login. By default, board members will be added to Account Users but will not have access to view the company’s cap table unless you modify their level of access by visiting Account Users.

We believe it is valuable for companies to add their board members during their initial implementation. Capturing data and information early on will ensure the company is set up for success when utilizing Carta and realize the full benefits of our platform.

If you have any questions about Carta’s board management and governance features, please send a note to growthproduct@carta.com

Learn more about creating board resolutions on Carta >

Connor Bathen

6 years ago8/16/2019

Add Multiple Resolution Templates to a Board Consent

We’ve made it easier to add multiple resolutions into one board consent document. Going forward, you can add as many resolution templates into the consent editor as you need.

To add a new resolution template to a consent, open a draft consent and click on the “X” icon. Choose “resolution template”:

From here, you can drop in any template that you have saved:

Once a template is selected, it will populate into the consent document:

We hope this helps make drafting board consents easier and more intuitive!

Connor Bathen

6 years ago8/16/2019

External Broker Option Transaction Recordkeeping

We have added functionality to facilitate the capture of stock option trades for public companies that occur with other brokers.

If you are a public company on the platform and have executives that trade via other brokers (through 10b5-1 plans or other trades) we now have an administrator-facing tool to enter in trade executions for stock options. The functionality allows for the calculation and adjustment of tax withholding information, and flows through to Carta’s reports. Additionally, reporting is available to assist your company in settling the off-platform trade with your executive’s external broker.

Upon selecting “Off System Transaction” at the employee grant level, administrators can now enter in trade execution information related to stock option transactions executed outside of Carta.

Selecting Off System Transaction brings you to the exercise information screen:

Taxes will be calculated based on the inputted trade information, and can be reviewed and adjusted if necessary.

Upon reviewing and approving, the transaction information will be stored as an off-system transaction, and the options available for exercise will be adjusted accordingly.

Bryan Wells

6 years ago8/15/2019

Copy assumptions for ASC 820 valuations

To help streamline the ASC 820 valuation process and eliminate duplicative work, we’ve released a new feature within our ASC 820 valuation tool that lets you create a new valuation using the assumptions from a previous valuation or copy the assumptions from a scenario.

When modeling out the valuation, you may wish to create a new scenario with the same assumptions from a previously created scenario. To do this, navigate to the scenario you wish to copy and select ‘Copy scenario’.

Once copied, you will see a new scenario appear with the assumptions prepopulated.

You may additionally wish to use the same valuation assumptions year over year. To do this, select ‘Create valuation’.

Enter in the new valuation date, select the cap table you wish to use, and then select the valuation from which you would like to copy the assumptions.

Once the valuation is created, you will see the new valuation on the Valuations ledger.

EJ Jacoby

6 years ago8/14/2019

Technical improvements to navigation

The Design Technology team at Carta is updating the top level navigation of our app, to benefit from the latest Ink Design System improvements.

With this architectural change, user experience will be more consistent, future design improvements will be easier, and we will be able to better support our future product roadmap.

There will be minor changes to visuals and interaction. On the visual side, the text is now bolder and more legible. On the interaction side, menu items will now open on click, instead of on hover.

Note: there is no change to menu items or to the way you get to different corners of the app. This update is unrelated to the navigational structure of our site.

For feedback, please reach out to design-technology@carta.com.

Gilmar Lira

6 years ago8/2/2019

How to get access to Carta's new and improved Equity Plan Balance Report

If you oversee the management of your company’s equity plan or you’re a law firm user helping a client understand their equity plan, we are excited to announce that we have a new Equity Plan Balance Report available via request today.

We’ve made a couple of key changes in the new report:

As one of the most downloaded report on Carta today, we believe this report will help companies and their law firms understand their current equity plan and plan for the future as business needs evolve.

This report is currently in closed beta. If your Carta subscription includes reporting features, this report is available for your use upon request. To gain access, please send a note to angela.jo@carta.com

Connor Bathen

6 years ago8/2/2019

Holding Summary for Investors on iOS

For investors, we’re excited to bring updates to the iOS app, which now showcase the same great portfolio companies’ summary info that you’ve seen in the web experience.

Depending on the level of access for your account, you’ll see data, including:

In the coming weeks, stay tuned for more updates as we improve the investor experience within the iOS app.

Don’t have the app yet? Get it now!

Alex Legault

6 years ago7/26/2019

New and Improved Exercising Flow

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

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:

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.

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

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

Connor Bathen

6 years ago7/23/2019

ISO, NSO, and Splits Vesting Report

We’re releasing a new vesting report for ISO, NSO and split grants! It lives under the Capitalization section of your Reports page.

In this update, we’ve introduced:

On top of that, we allow companies to generate the report for all their employees or for an individual.

Read more on Carta’s reporting capabilities >

Connor Bathen

7 years ago7/20/2019

ISO Option Exercise on iOS App

We’re releasing an update to the iOS app to support ISO option exercises!

To begin, you will need:

Once you’ve installed the latest version of the app, head to the option grant that you intend to exercise. If exercising is available, you can click on the blue “exercise” button to begin.

Once you confirm that you’re a US resident, you’ll be able

After you submit the exercise request, the issuing company will approve the exercise request, which will initiate the funds transfer from your bank account to the company bank account. Lastly, the resulting certificate will be created, signed by the officers, then sent to you to accept. You’ll receive email updates from us as your option exercise progresses.

Don’t have the app yet? Get it now!

Alex Chen

7 years ago7/19/2019

ASC 820 Valuation Modeling

We’ve made improvements to the ASC 820 valuation workflow. Now when you create a new valuation, you will be able to run through different scenarios, generate reports for each scenario, and select which scenario you wish to use as the final version in your financial statements.

Learn how to create a valuation on Carta >

Learn how to create a valuation scenarios >

Connor Bathen

7 years ago7/16/2019

Law Firm dashboard updates

We’ve made some updates to the law firm dashboard to make it more useful to our legal users. The goal was to provide more top-level information about companies that law firms want to see (e.g. current FMV, company status, or latest round raised), as well as include the total number of users associated with the law firm organization.

Connor Bathen

7 years ago7/15/2019

Reports: Tax withholding report

We’ve released a new report that details tax withholding events that have been processed on Carta. This report currently shows withholding events in association with these transaction types:

Private Companies:

Public Companies:

You can find the report under Capitalization > Reports > Equity Plan Analysis > Tax Withholding Report

The report details out Stakeholder ID information as well as a breakdown of taxes withheld in association with each transaction.

Bryan Wells

7 years ago7/12/2019

(Public Beta) ISO Options Exercise on iOS app

We’re making an improvement to the iOS app to support ISO option exercises. We’d love your feedback to make this experience better, so please email us with your questions and comments around this beta release.

To begin, you will need:

Once the beta app is installed, head to the option grant that you intend to exercise. If exercising is available, you can click on the blue “exercise” button to begin.

Once you confirm that you’re a US resident, you’ll be able

Alex Chen

7 years ago7/12/2019

Custom messages in Board Consents

We’ve made some improvements to notifications in the Board product. Now, when you publish a consent, you can write a custom message that will be included in the email notification that goes out to your board members.

You can also preview what the email notification will look like to board members by clicking the “preview email notification” link:

Connor Bathen

7 years ago7/5/2019

Reports: stakeholder contact spreadsheet update

We released an update for Stakeholder contact spreadsheet. Now you can see updated emails for your stakeholders.

Justin Lo

7 years ago7/5/2019

Reports: options outstanding report

We released a new report that allows company admins to see a list of outstanding options along with total vested, vested outstanding, unvested and more helpful data that should simplify your reporting.

You can find the report under Capitalization > Reports > Compliance > Options outstanding report.

Mara Pritchard

7 years ago7/2/2019

View your subscription details

We’ve added a new subscription details page under company settings. You can now view your Carta subscription with estimated next charge, last charge, features under your plan, and pricing tiers.

Mara Pritchard

7 years ago7/2/2019

Improved permission guidance

For company administrators that have “Company editor” or “Company viewer” permissions, you can now clearly see which actions on the security ledgers are limited with your permission set:

Learn more about permission sets on Carta >

Justin Lo

7 years ago6/27/2019

Changes to Public Market wire instruction form for Canadian bank wires

We updated Public Market wire form for Canadian bank wires. As Canadian Banks requires mandatory fields to process wires, we have added two new fields to capture this information. There is also field validation in place to ensure entries are correct

Branch Code- 3 or 4 digit institution/bank number

Transit Number-5 digit branch transit number

You can find this form in settings-->accounts-->add-accounts-->account-details--> Wires and select Bank Branch Country=‘Canada’

Aneetha Sampath

7 years ago6/25/2019

Reports: security acceptance status

We released a new report that allows company admins to see full list of securities and their acceptance status (eg accepted or awaiting holder signature).

You can find the report under Capitalization > Reports > Compliance > Security acceptance status report.

Connor Bathen

7 years ago6/23/2019

What to do when asked for a unique code after registering for your Carta account

Carta is an invitation-based platform. You need to have been issued a security or granted access to a company, law firm, or investment firm account to receive an email invitation to register.

In the past, you may have registered for your account and landed on a page that asked you to enter a unique code before proceeding. This particular page created confusion for our customers, so we released a few updates to better inform you on why you are seeing the page after creating your account and what you can do to access your portfolio on Carta.

First, we will describe three possible reasons why you are seeing this page. The most common reason our customers see this page is because they already have an existing account with a different email address. We’ll outline clear next steps for you to take.

If you are still experiencing trouble, click “Still need help” to locate your unique code and enter it in to access your portfolio.

We hope this new update creates a more seamless registration experience for you!

Learn more about why some situations require a unique code to register >

Connor Bathen

7 years ago6/21/2019

Reports: easier vlookup and consistent securities names

We made a handful of improvements to existing reports. Now you can find unique stakeholder identifiers (ID), employee IDs in all reports and all securities have unique IDs that are consistent across reports.

When you need to vlookup across multiple reports and merge data, it would be much easier to do.

Justin Lo

7 years ago6/21/2019

Reports: securities ledger grouped by type

One of the most used reports “Securities ledgers by type and class” got an upgrade. Now you can see securities grouped by type of security which simplifies navigation and makes it easier to run analysis for a type of security (Shares ledger, Equity Awards Ledger, Warrants Ledger, etc).

You can find it under Capitalization > Reports > Ledger report by type

Alex Chen

7 years ago6/17/2019

iOS App: Customer Support Pin

You can now access your support pin, to verify your identity when you call one of Carta’s support agents. Find this in the account section of the app by selecting “Customer Support PIN”.

Alex Chen

7 years ago6/17/2019

iOS App: Connect your Bank Account

With the v3.5 release of our iOS app, you’re now able to securely and instantaneously link your bank account, to fund transactions such as option exercises (coming soon!).

You can find this under the account tab of the app.

Don’t have the app yet? Get it now!

Alex Chen

7 years ago6/14/2019

Sales Tax

Starting July 1st, 2019 Carta will be charging sales tax to a subset of customers in the United States. When required by that state, Carta will collect sales tax in states where we have a physical presence or significant business activities.

You will be notified of the tax amount in your renewal and charge emails.

Connor Bathen

7 years ago6/6/2019

New Exercises Ledger

As more and more transactions take place on Carta, we want to make it easier for our customers to find and review those transactions.

The first transaction page we’ll be rolling out over the next few weeks is an Option Exercise ledger. You can track exercises as they move through various statuses: Requested, Approved, Waiting for Funds, or Cancelled. We will also indicate if an exercise occurred through a Tender Offer.

If you are the Option Exercise Approver for your company (you can check this under Company > Permissions and Roles > Roles), you will also be able to approve exercises on this page.

Note: Exercises that were completed before a company on-boarded to the Carta platform will not be displayed in the ledger.

Alex Chen

7 years ago6/4/2019

Profile editing within iOS app

In the iOS app, you can now edit your profile to add citizenship, residency, and tax information. This information will be used when you exercise options within the app (coming soon!)

Keep your profile up-to-date by going to Account > Profile

Don’t have the app yet? Get it now!

Alex Chen

7 years ago6/3/2019

New valuation methodology for ASC820 customers

We’ve released a new valuation methodology to help Investors determine the fair value of their holdings. Investors can now apply an equity adjustment to the post-money valuation. Equity adjustments are generally applied to backsolve or post-money valuations when the last preferred financing round was greater than 6 months ago and there is reason to believe that the market has changed since the last financing was raised, or when the portfolio company does not have sufficient revenue to support a meaningful indication of value.

To use the post-money equity adjustment methodology to value a portfolio company, follow these steps:

  1. Navigate to the portfolio company’s valuation page.

  2. Create a new valuation.

  3. Add your public comparable companies. These will be used to estimate the equity adjustment.

  4. Navigate to the Value company page and select the post-money valuation methodology. Indicate the weighting you would like applied and save!

  5. Once saved, you will see a new page where you can record the post-money valuation, apply the equity adjustment, and include an explanation as to why you are applying the equity adjustment.

EJ Jacoby

7 years ago6/1/2019

Add equity plans when onboarding on Carta

If you’re a company founder and self-onboarding on Carta for the first time, we’ve made some improvements in the workflow that allow you to add equity plans so you can issue option grants to your employees.

To add an equity plan using our onboarding tool, navigate to Add Equity Plan.

Add information about the equity plan and hit Save.

Once you save, you can add another plan or continue to the next step of onboarding. This feature does not allow you to issue option grants, only add a plan.

Justin Lo

7 years ago5/29/2019

Reverse cancellation and repurchases

Company administrators are now able to reverse cancellations on every security type as well as reverse repurchases!

To reverse a cancellation, go to the security ledger and select the row action for a cancelled security:

In the modal, select a reason for reversal and confirm the information. If there was a certificate resulting from a partial repurchase, that certificate will be deleted. Only unaccepted certificates can be deleted. If a resulting certificate is accepted, please reach out to Carta support.

Once reversed, the original security will show as outstanding in the ledger and a note will be added to the security under the “Documents and notes” section. No notifications are sent out when reversing cancellations or repurchases.

Note: This feature does not include reversing transfers, exercises or conversions at this time.

Learn more >

Justin Lo

7 years ago5/24/2019

Option vesting schedule in Portfolio Holdings

The team is happy to announce our newest iteration on the private company portfolio experience.

As an employee with options, you can now see all the relevant grant information up front under Overview. To the right, we’ve introduced a schedule charting your vesting progress from beginning to end.

More tweaks were made to the option grant ledger to ensure we’re fully explaining the information presented to you.

Interested in understanding more about your options? See our Equity 101.

Gwynne Burgess