4 years ago2/25/2022
[**Redesigned Capital Call Request Tool**](https://releasenotes.carta.com/redesigned-capital-call-request-tool-b5soU)
**What’s new?**
Previously, our capital call request tool only allowed General Partners (GPs) to request capital from all investors in the fund regardless of their close date. Starting today, GPs can use the redesigned tool to:
- Make pro-rata capital calls from their existing investor base
- Call capital from subsequent close investors
Additionally, GPs will be able to view a list of all their newly closed investors, as well as any investors whose commitments have increased or decreased since the last capital call. The capital call amounts to be called from these investors will be auto-calculated by the tool for the GP to review.
**How it works**
1. There are two ways you can request a capital call. You can navigate to the Firm Management Page or through the capital calls tab in the fund page.
2. Select the type of capital call you would like to request:
1. **Pro Rata** capital calls is an improved version of our capital call tool. Input a capital call dollar or percentage amount, followed by call details, and go through the final review step before initiating your capital call.
2. **Subsequent Close** capital calls will list out investors who are new and those with changed commitments since the last capital call. You will have an optional text box for additional notes, capital call details, and a final review before initiating your capital call.
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**Who this affects**
This is available for all fund administration customers who are on the Carta General Ledger.
**What’s next?**
We’ll be expanding the tool’s functionality to handle more complex scenarios, such as calling additional capital from both new and existing investors in the fund. We also plan to embed the PDF notices at the review step to give GPs the option to start the capital call without further approvals.
Erin Kim
4 years ago2/17/2022
[**Set your employees' local currency**](https://releasenotes.carta.com/set-your-employees-local-currency-4hoWKA)
You can now set the local currency for cash compensation (salary and variable) for your employees' scorecards. This new feature paves the way for better support for international employees. Target compensation for non-USD currencies will be supported in the future.
David Lichtenstein
4 years ago2/16/2022
[**Improvements to job leveling framework**](https://releasenotes.carta.com/improvements-to-job-leveling-framework-2AWySQ)
We've enhanced the leveling framework with new and updated job areas and specializations. This improvement is an important step toward expanding the scope of the Bands feature to include benchmarks for these new job areas and specializations.
NOTE: These updates do not impact your employee's target salary or equity, as they are simply improvements to the labeling system to more accurately reflect trends in job functions.
The following job areas and specializations have been added and updated. Job areas marked with an asterisk (\*) are currently only available for leveling purposes and do not yet support bands. At this time, all specializations still do not differentiate bands/benchmarks from their top-level job area, however, we will soon be launching specialized bands starting with Engineering, IT, Marketing, and HR. You will be notified as soon as bands are available for these new areas and specializations.
| | |
| --- | --- |
| **Job Area** | **Specialization** |
| Administration | Administrative Assistant |
| Corporate Affairs\* | Government Affairs |
| Corporate Affairs\* | Regulatory Affairs |
| Customer Success | Training |
| Data | Business Intelligence and Analytics |
| Design | Industrial Design |
| Design | UX Design |
| Engineering | Crypto and Web3 |
| Engineering | Data Engineering |
| Engineering | Web Engineer |
| Finance | Financial Planning and Analysis |
| Finance | Tax |
| HR | Benefits |
| HR | Compensation |
| HR | Diversity |
| HR | HR Generalist |
| HR | Learning and Development |
| HR | Total Rewards |
| IT\* | Information Security |
| IT\* | Information Services |
| IT\* | Network Ops |
| Legal | Corporate Counsel |
| Legal | Paralegal |
| Manufacturing\* | Assembly |
| Manufacturing\* | Manufacturing Engineering |
| Manufacturing\* | Production Planning |
| Manufacturing\* | Quality Assurance |
| Marketing | Communications/Public Relations |
| Marketing | Creative Marketing |
| Marketing | Digital Marketing |
| Marketing | Events |
| Marketing | Marketing Operations |
| Marketing | Production |
| Operations | Facilities |
| Product | Technical Writing |
| Project Management | Non-Technical Project Management |
| Project Management | Technical Project Management |
| Research | Clinical Science |
| Research | Pre-Clinical Science |
| Research | Process Development |
| Research | Support |
| Sales | Sales/Solutions Engineering |
| Strategy | Business Operations |
| Strategy | Corporate/Business Development |
David Lichtenstein
4 years ago2/15/2022
[**New Updated User Roles**](https://releasenotes.carta.com/new-updated-user-roles-qXTuo)
Soon, Carta customers will start seeing an expanded set of Roles to help you reflect the different individuals who are handling different aspects of Cap Table management.
For now, users assigned to new roles will serve as point of contact for their areas. Over time, these individuals will see updated experiences and be guided to relevant Carta tools.
To see this experience, Navigate to "Company > Permissions and Roles > Roles"
Alex Chen
4 years ago2/2/2022
[**Public RSU settlement now captures tax withholding at the tranche level**](https://releasenotes.carta.com/public-rsu-settlement-now-captures-tax-withholding-at-the-tranche-level-3VNMzu)
Corporations Equity AdministratorsImprovement
**What’s new?**
Previously, Carta's public markets RSU settlement tool grouped all vested tranches for an RSU grant into a single settlement entry. Carta now captures the settlement of each RSU tranche separately, including shares sold or withheld to cover taxes per tranche.
This enhancement applies to public RSU grants with multiple vested but unsettled tranches.
**This change provides the following improvements:**
1. Clarity on taxes: If an issuer is releasing multiple tranches at once for a single grant, taxes are now easier to review and reconcile. Each tranche’s taxes are shown distinctly in our reports.
2. Clarity on net shares: Carta’s reporting now breaks down the shares sold or withheld for taxes for each tranche. This provides additional clarity and ease of reconciliation for participants selling net RSU shares through 10b5-1 trading plans.
**Changes to reports:**
Tax calculations are now captured at the vesting tranche level when setting up an RSU settlement.
- The vesting date for each tranche now has its own row in our _RSU Settlement Batch_ tax estimates report. Administrators can override taxes for an individual vesting tranche as part of an RSU settlement.
Shares sold or withheld for taxes are now captured at the tranche level in Carta's _RSU Settlement Details_ report.
- Net RSU shares sold pursuant to 10b5-1 plans in Carta are easier to interpret and reconcile, since we capture gross and net shares per tranche for each RSU settlement.
- Our settlement reports have been updated to show tranche level settlement information.
**Timing:**
This enhancement will be released to all public Carta companies on February 2, 2022.
Bryan Wells
4 years ago1/27/2022
[**Portfolio Overview Redesign**](https://releasenotes.carta.com/portfolio-overview-redesign-3q09Uc)
Users with holdings in private and public companies can now view their holdings details directly from the Portfolio screen for easy access.
# **Who this affects?**
Shareholders with holdings in private and public companies.
# **What’s new?**
With an objective to provide insightful experiences, we’ve redesigned the Portfolio Overview screen to surface important holding details for each company. This redesign introduces usability enhancements by eliminating extra clicks and effort required to find the information needed to view and understand equity.
We know things like the quantity of option grants, vesting schedule, and values of securities are some of the most important metrics to have top of my mind when reviewing your portfolio. In the Portfolio Overview, each **private company card** will now present the following information with the ability to view further details when clicked:
- Details of your holdings in each company and their vesting schedule
- Summary of your securities
- Current FMV if you have holdings in the company or have exercisable options
- A vesting progress bar highlighting the number of options exercised in comparison to the amount granted
Each **public** **company card** will now present the following information with the ability to view further details by clicking on the company name:
- Market Value
- Total number of shares held
- Total holdings value
- Net holdings value
Hira Zahid
4 years ago1/24/2022
[**Carta Web now has Section 6039: Form 3922 tax form generation**](https://releasenotes.carta.com/carta-web-now-has-section-6039-form-3922-tax-form-generation-1x39gA)
**What's new?**
Carta Web now supports the generation of Form 3922 for Employee Stock Purchase Plans in the Company Administrator view. Companies that would normally have access to the Compliance tab, can now request access to **Section 6039** from their Customer Success Managers. Form 3922 forms are due to stakeholder portfolios by January 31, 2022. By enabling this functionality in Carta Web, administrators are now in control of the Form 3922 generation and distribution, similar to Form 3921 for Incentive Stock Option Exercises.
NOTE: This feature can be enabled upon request from companies that have an Employee Stock Purchase Plan.
From the IRS:
_Corporations file this form (3922) for each transfer of the legal title of a share of stock acquired by the employee pursuant to the employee's exercise of an option granted under an **employee stock purchase plan** and described in section 423(c) (where the exercise price is less than 100% of the value of the stock on the date of grant, or is not fixed or determinable on the date of grant)._ **How to Use**
1. To generate Form 3922, navigate to Compliance > **Section 6039**.
NOTE: TCC is not required to generate Form 3922 Copy B for employees.
2. Click **Generate**.
3. Select the **Effective Year** of the report.
4. Review any missing information, check off the box to confirm company data, then click Next: add contact info. If any information is missing, complete the information, then return to this stage.
- If Company tax data is not complete:
1. Navigate to Company > Settings.
2. Click into the Profile tab.
3. Enter Tax ID, TCC (required to generate Copy A, but not required for Copy B) and address.
- If Stakeholder tax details are not complete, update missing data under the Stakeholder details tab of the same Form 3922 page
1. The names, addresses, and SSNs can be edited individually by clicking Edit to the right of the stakeholder’s row.
2. The stakeholder details can also be updated in bulk via Stakeholders > All stakeholders page. [Review these instructions to bulk update stakeholder details](https://support.carta.com/s/article/bulk-update-stakeholder-details).
5\. If the missing data was entered in, return to the Compliance > Section 6039 page and click **Generate** to click through the steps to proceed and add company contact information. The company contact is formatted into the electronic Copy A .txt file that will be uploaded to the [IRS site](https://www.irs.gov/tax-professionals/e-file-providers-partners/filing-information-returns-electronically-fire).
Click **Generate Form 3922** to begin the generation of the files.
6\. **Refresh** the page after some time if you see a spinning wheel or navigate away and return later.
7\. Once generated, click **Download reports** for the tax year to download a .zip file to your local drive that contains all necessary data for Copy A (efile), and Copy B (statements).
The .zip file will be split out into the following three files:
- **efile** will be a specially formatted electronic .txt file.
NOTE: Do not edit this file. Only download and upload to the [IRS FIRE site](https://www.irs.gov/tax-professionals/e-file-providers-partners/filing-information-returns-electronically-fire). If any data needs to be updated, repeat the initial steps for the same filing tax year to regenerate the reports and download the updated files.
- **statements** should be delivered to all holders who acquired stock through an ESPP by the January 31st deadline and can be delivered electronically on Carta by clicking the link to **Deliver participant statements**.
For any filing questions, contact your tax advisor.
**Who this affects**
Public and Private Market companies with an ESPP.
**Timing**
This feature can be enabled on demand by reaching out to our support team or Customer Success Managers.
**What's Next**
The product team will be enhancing Form 3921 functionality to bring it more in line with the new Section 6039 admin experience.
Vibhu Mahajan
4 years ago1/24/2022
[**Improved Public Exercising Experience**](https://releasenotes.carta.com/improved-public-exercising-experience-1p6nCM)
Option exercising with Public companies is now easier than ever.
The exercising experience for public companies has been improved. The exercise request is now a coherent workflow guiding users through each step and providing key information about the exercise. With this detail, users can be more confident with their selection at each step of the exercise request. If there are issues with the exercise, clearer banners explain how Carta calculates share amounts and market prices.
_Who this affects_: 🇺🇸 Public US companies
_What's new_:
- New experience for exercise requests:
- Added explanations of exercise transaction methods
- Clearer confirmation of address and payout method
- Improved order details with indicators on maximum eligible options and clear explanation of order types
- Incorporated review of taxes withheld and reminder of potential for additional taxes owed at end of the year
- Summarized the exercise request clearly laying out the cost and transaction details so users understand what will be needed
- Cashless exercising reflects issuer imposed trade limits
_Action required:_ No action required
_Timing:_ Released to 100% of all public companies on Jan 24, 2022
Bryan Wells
4 years ago1/24/2022
[**Pre-filled W-9s in LP Closings Tool**](https://releasenotes.carta.com/pre-filled-w-9s-in-lp-closings-tool-XQT8A)
## What's New
LPs subscribing to Funds and SPVs using Carta's Closings Tool can now E-Sign a pre-filled W-9 while filling out subscription documents.
Having LPs submit a tax form is an important part of the closings process for any Fund or SPV to ensure tax teams correctly prepare LP K-1s. We received feedback from LPs about the friction of printing, signing, and uploading W-9s and wanted to streamline the process.
## How it Works
For Individuals
For U.S. based LPs subscribing as an Individual, we can now optionally pre-fill a W-9 for them to review and E-sign in just three clicks. The W-9 is pre-filled based on the information the LP already provided as part of their subscription.
view
Content is no longer available
For Partnerships and LLCs
For LPs subscribing as a partnership or through a LLC we'll ask some additional questions to ensure we are accurately representing the LPs federal tax classification on the W9.
With the initial release of this product we will not be pre-filling W-8s or W-8BEN-Es for non-US LPs but will still allow them to upload their own form.
## Who this affects
This is now available to any LPs using [Carta's Closings Tool](/content/blog/simplifying-subscription-documents-for-spvs/index.html). The Closings Tool gives LPs a quick and easy way to fill out Fund and SPV subscription documents.
Spencer Holton
4 years ago1/21/2022
[**Set Your Target Market Position**](https://releasenotes.carta.com/set-your-target-market-position-1rmTCg)
# What's new?
## Target Market Percentiles
Carta Total Comp will now show target data for the 25th, 50th, and 75th salary and equity percentiles.
### How do I change my target market percentile for my compensation bands?
You can update your target market position to use the new percentiles either by:
1. Visiting the [Plan](https://comp.app.carta.com/plan) page and clicking on the "Create plan" button in the _Active Plan window_. The _Create Plan window_ contains a section called “Market position by job area” where you can specify your target salary and target equity percentiles.
2. Visiting the [Bands](https://comp.app.carta.com/bands) page and clicking “Edit” under _Target criteria_. Once in edit mode, you can change the target market position by selecting the Percentile dropdown.
| | |
| --- | --- |
| | |
## Market Position by Job Area
Carta Total Comp users will now be able to set their organization's target market positioning by element of compensation (salary + equity) and job area to make sure they're getting a view of market competitiveness that supports their overall talent strategy.
### How do I update my Plan to define my market position by job area?
You can update your existing compensation philosophy by:
1. Visiting the [Plan](https://comp.app.carta.com/plan) page and clicking on the "Create plan" button in the Active Plan window.
2. Under "Market position by job area" you will see a table containing your default salary + equity positioning.
3. Select the "+" icon to create additional market positions by job area.
4. Each additional market position will allow you to specify the job area, target salary percentile, and target equity percentile.
### How does Market Position by Job Area affect the Employee Scorecard?
The compa-ratio is a quick way to compare an employee's compensation to your plan's target rate for a given job area, level, and location. A plan that specifies a market position for a job area adjusts the target rate for all employees in said job area. These changes can be previewed by selecting the “Save and preview plan” button on the _Create Plan_ page.
## Benchmarks version 2022-01-21
- Our market estimates now include measures of the 25th and 75th percentile by job area, level and peer group.
- We've updated the Salary bands for all job areas to reflect market changes and improvements to our benchmarking model.
### How do I update my plan to use the new benchmarks version?
You can update your compensation plan to use the latest benchmark versions either by:
1. Visiting the [Plan](https://comp.app.carta.com/plan) page and clicking on the "Update available" link in the Active Plan window.
2. Navigating to the [Bands](https://comp.app.carta.com/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?
We will be expanding our benchmarks to include salary and equity data for the following Engineering Specializations: DevOps, Frontend, QA, and Software Engineering.
Jeffrey Glusman
4 years ago1/21/2022
[**Funds Can Now Review and Request SOI Updates in-App**](https://releasenotes.carta.com/funds-can-now-review-and-request-soi-updates-in-app-2PEX9S)
**What’s new?**
Valuation updates can now be submitted directly in Carta!
We kicked off EoY reporting by launching Schedule of Investments (SOI) review emails with in-app flows for Fund Managers approve their valuations, markup their investments, or request other updates right in Carta. This is the first step in a set of functionality for making the quarterly and annual reporting process easier than ever.
**How it works:**
Rather than Fund Admins having to comb through investment valuations for every entity and curate one-off email threads with Fund Managers to ask for reviews and updates, they can now kickoff these emails with just a few clicks in Carta, and easily track where each entity is in the reporting process.
Fund Managers will be sent a link to their SOI for review and approval, where they can approve on the spot or request changes directly in app. For markups or markdowns, they can go through a fully in-app flow to complete the updates. They no longer need to go download their SOIs and itemize every change through email, to send back to their Fund Admin.
Any approvals or requests for changes will automatically be queued for Fund Admins to review and push through, while markups and markdowns that pass health checks will push through updates directly and be routed to Carta's Deal Docs team, so they can review and catalogue supporting documentation.
**Who does this impact?**
Fund Admins now have quicker, more efficient ways to send out SOIs to kickoff financial reporting, and track where each of their entities are in the process. They can spend less time keeping track of multiple email threads and keeping mental lists of which assets are ready to go and which need to updated.
Fund Managers can also view their SOIs by fund and directly request changes at any time, within Carta as needed, ensuring asset valuations are up to date throughout the year.
**What’s next?**
The team is working to add more in-app methods for funds to easily to keep their investment valuations up to date, such as note conversions, further reducing the time delays from back and forth emails, and ensuring better expediency and accuracy for valuation updates.
Whitney Knowlton
4 years ago1/19/2022
[**Equity Value Settings**](https://releasenotes.carta.com/equity-value-settings-2u4C7S)
**What's new?**
You can now select how equity value is displayed in the Scorecard and communicated to employees in Total Rewards in the new Equity Settings section in the General Settings page.
**How to use**
Navigate to Settings in the top navigation and then click on the [**General Settings**](https://comp.app.carta.com/settings/general) tab on the left-side navigation.
In the _Equity Settings_ section, there are two options:
- Equity share price - Set the value of the share price either using the Last Preferred Price or set a custom value.
- Equity value calculation - There are two options to choose from to determine how equity value is calculated:
1. Net equity value - The in-the-money value of all equity grants (i.e. net of any exercise costs). RSUs assume a strike price of zero. **This is the recommended setting for most situations.**
2. Notional equity value - This is the gross value of the equity (i.e., shares granted times the equity share price).
NOTE: When using the _Net equity value_ option on the Bands page, Total Comp will always display the notional (face) value of equity according to your set equity share price as exercise costs are only taken into consideration for individual equity awards.
Prior to this update, all equity value was calculated only using the notional value method. We recommend customers review compensation philosophy with their teams to make the determination on the best methodology for your unique circumstances.
David Lichtenstein
4 years ago1/12/2022
[**IFRS Initial Release - Financial Reporting**](https://releasenotes.carta.com/ifrs-initial-release---financial-reporting-2EiaOc)
# What’s new
Companies using our newest version of the financial reporting tool can now report following International Financial Reporting Standards (IFRS).
This is the first release of our IFRS reporting that includes:
1\. Tranche based valuations
2\. FIN28 amortization
3\. Correct relationship valuation methodology (differs from US GAAP)
4\. Stakeholder country field added to reports
5\. Disclosures
6\. Stock-based compensation expense journal entry
7\. Report error validations specific to IFRS reporting
Later releases will include:
1\. In-app custom assumption overrides
2\. Forfeiture rate by grouping
# How it works
When going to create a new expense scenario, there is now an additional step where users can select which reporting standard they want that scenario to follow. Users have the ability to create multiple scenarios to support both IFRS and US GAAP.
Once the scenario is created users can create both SBC expense reports and disclosure reports that follow the standard and give supporting calculations.
# Who this affects
Private and public companies using our new financial reporting tool.
# Timing
Available for legacy V1 IFRS users and beta customers. If you have a customer that is interested in being a beta user, reach out to Jess Carthey via slack.
GA will begin with the second release which includes in-app custom assumptions.
Jess Carthey
4 years ago1/11/2022
[**Total Comp Benchmarks Version 2022-01-10**](https://releasenotes.carta.com/total-comp-benchmarks-version-2022-01-10-nv8ic)
### What’s new?
We've updated the Salary bands for the Engineering, Data, and Research job areas to reflect market changes and improvements to our benchmarking model.
### How do I update my plan to use the new benchmarks version?
You can update your compensation plan to use the latest benchmark versions either by:
1. Visiting the [**Plan**](https://comp.app.carta.com/plan) page and clicking on the "Update available" link in the _Active Plan_ window.
2. Navigating to the [**Bands**](https://comp.app.carta.com/bands) page and clicking on the "Update" bubble in the top left.
### What's next?
On January 21, we will be launching a new enhancement to the Plan feature that will let you set your target market position (25th, 50th, or 75th percentiles) for salary and equity by job area. Stay tuned for this major release!
Jeffrey Glusman
4 years ago12/21/2021
[**Employee ID Matching Tool**](https://releasenotes.carta.com/employee-id-matching-tool-KbFsc)
**What’s new?**
There is a new way for Cap Table Admins to manage Employee IDs.
This is more than just an import; it is a matching tool that will make it easier to match the Employee ID with the indented Stakeholder in Carta.
**Why is this important?**
The Employee ID can clearly indicate that employee #123ABC on the HRIS or another system is the same as the Stakeholder #123ABC on Carta.
The Employee ID matching tool will compare Employee ID, First Name, Last Name, and email from an external source to the records in Carta. If all of the data between the two sources match exactly, then the Employee ID will be automatically saved in Carta. If some of the data matches, like Last Name and Email but not First Name, then those matches will be shown as a pending match some the Cap Table admin to confirm if the records are the same across two systems.
**How it works**
This tool is available to a user with the role of [Legal admin or Company Admin.](https://support.carta.com/s/article/corporate-permissions) It is under the Stakeholders dropdown > Stakeholder Updates > Employee ID Matching.
**Step 1: Add** **External** **data**
Download the template, and populate it with employee IDs, First Name, Last Name and email from the Employee ID source system (typically an HRIS or Payroll system). Upload this data into Carta as a CSV file, or Copy/paste directly into the matching tool.
Employee ID, First Name, Last Name, and email are all required for this upload.
**Step 2: External Data Source**
Once the data is uploaded, it will run through the automatic matching process. If the data is the same between the external source and Carta, then the Employee ID will automatically be updated.
**Step 3: Review Pending Matches**
If the data from the external source matches the data in Carta, then approve the suggested match. There is also an option to select a different Stakeholder or to clear it.
**Step 4: Review and save**
Jessica Ray
4 years ago12/20/2021
[**1099B Cost Basis Report available to Company Admins**](https://releasenotes.carta.com/1099b-cost-basis-report-available-to-company-admins-2VisjS)
**What’s new?**
We are releasing a report to all Private Market companies for administrators to review their certificate cost basis and original acquisition dates. This report will allow administrators to view cost basis data prior to the delivery of 1099B tax statements to stakeholders by mid-February.
**How it works**
This in-app report is available by navigating from **Capitalization -> Reporting -> Form 1099b cost basis report**.
Administrators will be able to view columns like stakeholder details, certificate ID's, quantity of shares sold, date acquired (original acquisition date), proceeds, gain/loss, and including various cost basis fields:
- cost\_basis\_total\_certificate = full value going back to the original certificate
- cost\_basis\_per\_share = cost basis of total certificate / total shares quantity
- cost\_basis\_sold\_certificate = cost basis per share X sold shares quantity
From this report, Issuers can identify which certificates need to be changed and/or excluded from tax filing, and will have the opportunity to correct the data until late-January.
**Who does this impact?**
This report will be available to individuals with role permissions of **Company Admin**, and including **Company Editors.**
**What’s next?**
In the next month, Carta's Liquidity team will be reaching out to ensure that data has been reviewed and is considered approved by Issuers for generating 1099B statements. Stakeholders will be able to access tax statements in their portfolios by mid-February.
Vibhu Mahajan
4 years ago11/18/2021
[**New "Firm Management" page**](https://releasenotes.carta.com/new-firm-management-page-3Cosyk)
**What’s new?**
Today, we are rolling out a new homepage for Carta Fund Admin GPs. The new Firm Management page is the first step in a series of new features we’ll be implementing to simplify the GP experience on the platform.
**How it works**
Instead of landing on the Firm Overview page when logging in, GPs will now see the new Firm Management page. From this page GPs can easily:
- See an overview of all their entities’ high-level metrics
- Search & navigate to any of their entities
- Access fund detail pages like Fund Performance, Partners, and Investments
- Filter and sort their entities
**Who does this impact?**
The new homepage will be available to **all** Carta Fund Admin GPs. This has **no** impact on the LP experience, LP Portal-only experience, or free-firm experience.
**What’s next?**
Over the next few weeks, the team will be working on adding more functionality and features to the page. Stay tuned for more details
Kali Borkoski
4 years ago11/10/2021
[**Returning LP Experience in Closings**](https://releasenotes.carta.com/returning-lp-experience-in-closings-15H3BC)
## What's New
We simplified the experience for returning LPs filling out subscription documents in Carta’s Closings Tool. With most of their information pre-filled, LPs can fill any remaining info & sign subscription documents with just a few clicks.
## How it Works
When returning LPs are prompted to fill out subscription documents, we will pre-fill their documents if they’re investing with the same entity or individual they’ve previously filled out subscription documents for. This is especially useful for LPs that have investments on Carta both as an individual and through multiple entities like trusts or LLCs.
This is a big win for fund managers that are launching multiple funds or SPVs with the same LP base that are looking for a streamlined experience for their LPs.
## Who this affects
Spencer Holton
4 years ago11/9/2021
[**Tracking Share Class Changes**](https://releasenotes.carta.com/tracking-share-class-changes-1csGeQ)
Private market issuers that go-live on or after 11/09/2021 can now track updates to company share classes’ rights and preferences as they are changed over time. This feature will roll out to other issuers in the next few weeks.
Users with the Legal administrator permissions will be able to make changes to the share class details. Users with the Company editor or Company viewer permissions will only be able to view the share class details.
# Experience Overview
1. Navigate to Securities > Shares.
2. Click Manage share classes and select Create/edit share classes.
3. The in-app spreadsheet loads in view-only mode, to prevent accidental input, which is indicated by the grey rows.
4. Create a new share class by clicking on the related button on the top-right of the screen.
5. To make edits to the share class details, click the Edit to the right of the AOI version date and name. If editing from the active AOI version, Admins will have the ability to reflect both a clerical error or amendment
1. If you are editing a past AOI version, Admins will only be able to make edits because of a clerical error.
2. If reflecting an amendment, Admins will be able to upload the related Articles of Incorporation (AOI) or select one from the [Library page](https://support.carta.com/s/article/manage-your-company-library). In addition, a name can be added to the AOI version.
3. Click Continue to save.
6. At this point, the Admin can make changes in the spreadsheet. The side-panel will expand to show helpful content related to the selected cell.
Cells that are painted light gray cannot be edited because the data may be in-use, a calculated value, or not applicable. Respectively, examples include share class names, the calculated outstanding value, and conversion price for common shares. Reference your AOI or contact your legal partner if you need help filling out this spreadsheet.
7. After edits have been completed, click Finish editing and save.
Carta will check your entries for any errors and provide actionable messaging to help you make corrections.
1. Review the summary of changes, then click Confirm and save. No email notifications are sent due to the changes.
2. Admins can navigate between AOI versions with the AOI version selector, which will show the filing date and version name as dropdown options.
Carta will be making improvements to tracking the company’s cap table, financing history, and reporting in the next few months to incorporate time-versioned share class information.
Have questions? Read about FAQs in our [support article](https://support.carta.com/s/article/tracking-share-class-changes).
Alex Chen
4 years ago11/4/2021
[**409A valuation data shared with Investors**](https://releasenotes.carta.com/409a-valuation-data-shared-with-investors-2ZIC52)
# What's new?
Portfolio companies can now share financial and cap table information with their Investors when their 409A valuation is complete. If you've been shared this data, you can view and download it directly from your Carta account.
# How does it work?
When your portfolio company accepts their Carta 409A valuation, we ask them if they want to share some of the data used in the valuation with their Investors to help their investors stay up to date on the company's financial situation and to help streamline some of the jobs needed to be done on the Investors side, such as the ASC 820 valuation.
The portfolio company will select which Investors to share the data with:
If you were one of those Investors that was shared the 409A data, you will then receive an email notifying you of the new document that has been shared and will be able to see it in your Documents tab under that portfolio company in Carta!
# What information will be shared?
## Historical financials
Information about the company's last twelve month revenue and EBITDA (earnings before interest, taxes, depreciation, and amortization) as well as the previous twelve months revenue and EBITDA. Since the 409A valuation is a valuation of the company at a point in time, the data used is as of a specific date. For example, Meetly conducted their 409A valuation as of 03/01/2019 (this is their valuation date). For the historical financials, the company provided the last twelve months (03/01/2018-2/28/2019) and the previous last twelve months (03/01/2017-02/28/2018).
## Summary financial forecast
In addition to their historical financials, the company will also share the projected next twelve month's revenue and EBITDA. Using the same example above, this would mean Meetly has shared 03/01/2019-02/29/2020 financial projections for revenue and EBITDA.
## Cash and Debt
The company will also share the cash and debt balances as of their valuation date. In the example above, this would mean Meetly has shared their cash and debt balances as of 03/01/2019.
## Summary level ownership information
Some cap table information will also be made available, which includes access to share class level information but will not contain any information about share holders. Here's what you'll see as an investor:
## Industry sector
Information about what industry the company operates in will also be shared. This is the industry information that was used to conduct the 409A valuation and may represent the current industry the company operates in. At Carta, we have preset industry lists that are used the 409A valuation. Should "N/A" appear next to industry sector for your shared data, it means the 409A valuation used a custom industry set and this information will not be made available.
## Time to exit
This represents the number of years until the company expects to have an exit event. 409A valuations are capped at 5 years for the time to exit so keep this in mind when reviewing this estimated exit term.
# What information will NOT be shared with me?
This document will not contain any information about the concluded FMV, latest preferred price, any rights & preferences the preferred share holders have, strike prices or purchase prices, and any information about a specific shareholder.
# Is this available to me?
The feature is available to any investor that has been shared the 409A valuation data. If you aren't seeing a document in your account, it may be that your portfolio companies either have not received a new 409A valuation since the feature has been released or have not shared the data with you yet.
EJ Jacoby
4 years ago11/2/2021
[**LP Status Tracker in Closings**](https://releasenotes.carta.com/lp-status-tracker-in-closings-3GRmNO)
## What's New
We launched a new LP tracker in our Closings Tool so fund managers can easily track the status of each LP filling out subscription documents. We clearly show exactly where the LP is in the process and provide instructions for what each LP needs to do to progress and finish their subscription.
## How it Works
In the Closings Tab of the entity you’re fundraising for, you’ll see one these six statuses assigned to each LP:
- **Prospect**: LP has been added but the fund manager has not invited them to fill out documents yet.
- **Invited**: LP has been invited to Carta but has not started filling out their documents.
- **In progress**: Investor has started to complete documents.
- **Investor Signature Pending**: Investor has completed documents and requires two or more signatories. Not all signatories have signed yet.
- **Submitted**: Investor documents are ready for review.
- **Countersigned**: Documents are complete and the investor has been admitted to the fund.
To get more detail about the specific LP, you can click on each status and get more detailed information about the LPs status such as:
- If they are using the help of someone else such as a wealth manager to fill out documents
- Who still needs to sign if there were multiple signatories designated by the LP
- What actions does the LP need to take to complete their subscription
- Timeline of the LPs interactions with the closings process
Additionally from this modal you can manage LP access to your [fundraising data room](https://releasenotes.carta.com/vc-fundraising-data-room-3gzxVC) and see who has been interacting with the information in each data room.
## Additional Resources
[Check out](https://support.carta.com/s/article/How-to-add-LPs-to-the-closings-tool) that walks through the step-by-step process of adding LPs to the closings tool.
## Is this available to me?
This is now available to any fund managers using [Carta's Closings Tool](/content/blog/simplifying-subscription-documents-for-spvs/index.html). The Closings Tool gives LPs a quick and easy way to fill out Fund and SPV subscription documents.
Spencer Holton
4 years ago10/27/2021
[**Adjust taxes for option exercises**](https://releasenotes.carta.com/adjust-taxes-for-option-exercises-2wbMsg)
# What’s new
Companies can now adjust taxes for option exercises previously approved in Carta.
Legal administrators can navigate to the Exercises ledger (Transactions > Exercises) and select "Adjust taxes" within a ledger row dropdown to find the new tool:
# How it works
The "Adjust taxes" tool will not be available for option exercises in the "Requested" status since option exercise approvers can adjust taxes as part of the exercise approval workflow.
For ACH option exercises already approved by the company or for company-entered manual exercises, the "Adjust taxes" tool will be available for use.
After a legal administrator selects "Adjust taxes" from the Exercises ledger, they'll see the following modal:
The legal administrator will be asked to provide a reason for the adjustment. Next, the following actions are available:
- Un-check a box next to a tax type to remove it from the option exercise
- Re-check a box to re-add a previously removed tax type to the option exercise
- Update the specific tax withholding amount in the "Adjusted" column
- Select "Add another tax type" to add a new tax type to the option exercise
Note that new tax types can't be added from this modal. If you'd like to add a new tax type to the exercise, add it first in the Tax rules page (Compliance > Tax rules) and then come back to the "Adjust taxes" tool to add it to the option exercise.
Once the adjustment has been saved, both the company and the stakeholder will see a blue banner when viewing the option grant. The banner contains information about the newly adjusted tax amount and exercise cost in addition to when the adjustment was entered in Carta:
Adjusted tax amounts will also be reflected in the "Exercised and settled report" and the "Tax withholding report" (Capitalization > Reporting).
For more information, check out the support article for the new "Adjust taxes" tool: [https://support.carta.com/s/article/adjust-taxes-option-exercises](https://support.carta.com/s/article/adjust-taxes-option-exercises)
# Who this affects
Private and public companies that issue option grants.
# Timing
Available to all companies now.
Vince Lo
4 years ago10/14/2021
[**Option exercise settings for exercises initiated and settled on Carta**](https://releasenotes.carta.com/option-exercise-settings-for-exercises-initiated-and-settled-on-carta-1i6boQ)
- ## **_Managing option exercising is now easier than ever._**
International optionholders of US companies can now exercise online via wire transfer to Carta. As a result, all US companies can now settle exercises through Carta, for both ACH and wire transfers payments. Carta conveniently manages payment reconciliation and payment issues such as insufficient funds or overpayments. This new feature is controlled via the new Transaction Settings page.
### **Who this affects:**
- 🇺🇸 US companies, public and private
**What's new:**
- 💸 **All exercises are settled with Carta**\- company admins will no longer need to mark exercises as paid. No matter where optionholdersers are located, Carta will receive funding for on-platform exercises - US holders pay for their exercise via ACH and non-US holders pay for their exercise via a wire transfer to Carta.
- ⚙️ **Clear transaction settings** \- company admins control option grant exercisability easily in one central location within Transaction Settings, under Company Settings.
- ❌ **Auto-cancel unpaid exercis** **es** \- A wire exercise is automatically cancelled if unfunded or underfunded for 30 days after admin approval.
- ✉️ **Communication with optionholders** \- Carta communicates directly with optionholders to resolve payment issues, letting them know of an outstanding balance for an exercise or facilitating a refund for overpayment.
**Action required:**
- Configuring Transaction Settings will enable access to online wire exercises for international optionholders.
- Navigate into _Company > Settings > Transaction Settings_
- Click _Set up_ to accept the terms and reconfigure your company account
- Accept the terms and conditions and enjoy the feature! You will be able to:
- Change the bank account information
- Easily turn exercises _ON_ and _OFF_, without Support intervention
- Select the types of securities that may be electronically exercised
**Timing:**
- Rollout begins Oct 14, 2021
- Rollout to reach 100% of all customers by the end of 2021
**What if the company decides not to enable the tool?**
The current company or transaction settings will not be impacted. _Remember that enabling Transaction Settings is required for international optionholders to submit online wire exercises!_
**Resources:**
- [\[Support Article\] Enabling online transactions](https://support.carta.com/s/article/enabling-online-transactions-us)
- [\[Release notes\] Exercising as non-US optionholder](https://releasenotes.carta.com/international-exercising-submit-and-settle-your-exercise-with-carta-yfGQo)
4 years ago10/5/2021
[**Qualified Small Business Stock (QSBS)**](https://releasenotes.carta.com/qualified-small-business-stock-qsbs-262d32)
# What’s new
Companies using Carta for 409A will now be additionally assessed for qualified small business eligibility at no extra cost to the company.
Certificates issued by a qualified small business as determined by Carta will have a "QSBS" tag in the product to indicate that the shares represent Qualified Small Business Stock (QSBS). The goal of these tags is help stakeholders make more informed selling decisions.
_The IRC’s definition of a qualified small business is restrictive yet vague and open for interpretation at the edges, so potential holders of QSBS should consult their tax advisor before making decisions to sell and claiming the QSBS tax benefit._
# How it works
Based on company-provided information during the valuations process, Carta will assess the following criteria for qualified small business eligibility:
- Company's gross assets are $50M USD or less
- Company is an active business
- Company is a C-corp
- Company does not operate in excluded industries
If a company is identified as a qualified small business, a new badge will appear in the 409A dashboard:
If a stakeholder receives a certificate from a qualified small business but hasn't yet met the 5 year holding period for QSBS, they'll see a "QSBS eligible" tag in their portfolio:
Drilling into the security, the stakeholder will see some additional information about the QSBS status of the certificate:
Stakeholders who have held shares issued by a qualified small business for 5 years will see a "QSBS" tag in their portfolio instead:
# Additional Resources
For detailed information about QSBS in Carta, please refer to our [QSBS support article](https://support.carta.com/s/article/qualified-small-business-stock).
# Who this affects
Companies using Carta for 409A and their stakeholders.
# Timing
- Available now to 50 randomly selected 409A customers
- General availability for all 409A customers coming in two weeks
Vince Lo
4 years ago10/1/2021
[**Bulk Add LPs to Carta's Closings Tool**](https://releasenotes.carta.com/bulk-add-lps-to-cartas-closings-tool-3k6qRi)
## Whats New
We've made it easier to quickly add LPs to Carta's Closings tool. Using a new spreadsheet in Carta you can now easily input details about each LP or simply paste information from another spreadsheet or tool.
## How it Works
There's a new "Bulk add partners" button on the closings tool that will open up the new spreadsheet where you can add LPs. You'll need to fill in the following information about each LP:
- **Partner name:** The name of the individual or entity that is subscribing.
- **First and Last Name:** This will be the name of the primary contact for the LPs commitment. The LP can always update this and add additional contacts when they’re filling out subscription documents.
- **Email:** The email address of the individual who will be filling out subscription documents for the partner.
- **Commitment amount:** The amount the LP will be committing to the fund or SPV. You must enter a commitment amount but this can be updated at any point prior to the LP signing.
## Additional Resources
[Here's a support article](https://support.carta.com/s/article/How-to-add-LPs-to-the-closings-tool) that walks through the step-by-step process of adding LPs to the closings tool.
## Who this affects
This is now available to any fund managers using [Carta's Closings Tool](/content/blog/simplifying-subscription-documents-for-spvs/index.html). Our Closings Tool gives LPs a quick and easy way to fill out Fund and SPV subscription documents.
Spencer Holton
4 years ago9/16/2021
[**Partially Canceling Option Grants**](https://releasenotes.carta.com/partially-canceling-option-grants-1r7dPq)
# What’s new
Legal administrators in Carta can now partially cancel an option grant in Carta. Partially canceling an option grant will reduce the number of outstanding shares and return the shares back to the option pool.
# How it works
You'll find the partial cancellation tool by navigating Securities > Equity awards and clicking on the ledger dropdown for the specific option you'd like to partially cancel:
First, you'll be asked to provide an effective date for the partial cancellation. A partial cancellation is an amendment to the option grant, and the effective date will determine when the amendment takes effect in the company's as-of date reporting.
Next, select the cancellation method, which determines how the partial cancellation will affect the vesting schedule for the option grant. Because a partial cancellation reduces the outstanding quantity of the option, Carta needs to know from which tranches the shares should be canceled.
**Last in, first out cancellation method**
For some situations, the issuer or their legal counsel may not specify the way in which the amendment will affect the vesting schedule. Issuers can select the last in, first out cancellation for the vesting schedule, and Carta will cancel shares starting from the future-most tranche and move up the vesting schedule until the specified quantity has been canceled.
**Custom cancellation method**
For situations in which the issuer or their legal counsel want to affect the vesting schedule in a specific manner with a partial cancellation, issuers can select the "Custom" share allocation method - this approach provides flexibility and allows the issuer to cancel shares from any tranche. The in-app spreadsheet allows legal administrators to first reflect the partial cancellation in a spreadsheet application outside of Carta and then copy/paste the resulting vesting tranches back into Carta.
After selecting "Review and confirm" at the bottom of the page, verify the cancellation quantity and other information to save the partial cancellation.
# Additional Resources
For more information around the limitations and best practices for the partial cancellation tool, please refer to [this support article](https://support.carta.com/s/article/partially-cancel-option-grants).
# Who this affects
The new partial cancellation tool is available to the legal administrators in all of Carta's private market customers.
# Timing
Available now.
Vince Lo
4 years ago9/16/2021
[**View Public Company Holdings on Mobile**](https://releasenotes.carta.com/view-public-company-holdings-on-mobile-fkTfO)
Users with holdings in public companies will now have the ability to view their holdings for both public and private companies straight from the Carta iOS app. Shareholders can now track market values, view total holdings value and more.
# Who this affects
Shareholders with holdings in public companies.
# Supported platforms
- iOS (Android coming soon)
# What's new
With an aim to provide functional and streamlined experiences for shareholders, we’ve brought the ability to view public holdings on the Carta iOS app. Public company cards will now be present among private companies on the home screen. The following information will be displayed for each public company card with the ability to view further details when clicked:
- Total number of shares held
- Total holdings value
- Net holdings value
Hira Zahid
4 years ago9/15/2021
[**Use Cap Table Access to Set Rule-Based Permissions for All Stakeholders**](https://releasenotes.carta.com/use-cap-table-access-to-set-rule-based-permissions-for-all-stakeholders-3ThjK8)
We are making it easier for companies to keep employees, investors, and other stakeholders informed about their holdings and company changes.
Companies have historically been able to grant viewing permissions to their stakeholders via our [Cap Table Sharing](https://support.carta.com/s/article/setting-cap-table-access) page and features. This experience, however, was burdensome for many company administrators who found themselves having to change sharing settings as new stakeholders were added to their cap table or existing stakeholders changed their relationship to the company, such as an employee leaving the company or an investor exiting their position.
With our new [Cap Table Access](https://support.carta.com/s/article/shareholder-experience-setting-access-levels) page, company administrators can designate what type of information they want to share with their different stakeholders and set rules based on these preferences. By setting permissions by rules instead of a stakeholder-by-stakeholder process, we make it easier for company administrators to get the right stakeholders the appropriate information and reflect their information sharing philosophy.
Companies can choose to enable a group of stakeholders with a specific level of access based on their relationship to the company. For example, companies can choose what information founders, investors, employees, and former employees, and other stakeholders access on Carta. We’ve renamed, updated, and simplified our access levels to Restricted, Basic, Advanced, and Full Details. We include a “Recommended” level for different relationships (e.g. Investors = Advanced) to help guide founders and other company administrators on setting up their Cap Table Access settings based on user feedback.
We’ve also added a new rule where former stakeholders--those who no longer have an active investment or holding in the company--will be downgraded to Restricted automatically. This means that as stakeholders enter and exit the cap table, their respective level of cap table access will update automatically.
_New Cap Table Access page: Group levels_
We know that sometimes it’s important for company administrators to create experiences specific to a single stakeholder or user. The new Cap Table Access feature allows companies to set overrides for specific stakeholders in the “Individual levels” tab. We also provide information on that stakeholder’s relationship and holdings information.
_New Cap Table Access page: Individual levels_
To help ensure company administrators set access levels that best fit the needs of their stakeholders, our access level guide is clickable from either the Group Level or Individual Level views of the new Cap Table Access page.
_Access level guide_
We appreciate our users’ feedback on how to make this page clearer and easier to use. We hope these improvements save company administrators valuable time and help them mirror their company information sharing philosophy in our software.
#### Who is this available for?
The cap table sharing page is available via a limited release to select Carta companies. In the coming weeks, we will begin to migrate additional companies to the new Cap Table Access feature set. This new product is not limited by subscription tier.
Companies with the new Cap Table Access features enabled can visit Stakeholders > Cap Table Access.
If you’d like to enable the new Cap Table Access settings for your company, you can also [contact us](https://support.carta.com/s/article/contact-us).
Amanda Domingues
4 years ago8/31/2021
[**Instant KYC for Non-Individual LPs Completing Subscription Documents**](https://releasenotes.carta.com/instant-kyc-for-non-individual-lps-completing-subscription-documents-4uIrzq)
Non-individual Limited Partners who complete subscription documents on Carta can now be KYC’ed instantly.
**What’s New**
This release is a follow-up to [our KYC for Individual LPs feature](https://releasenotes.carta.com/instant-kyc-for-lps-completing-subscription-documents-4dzDxK). If your fund leverages Carta’s [KYC/AML service](https://support.carta.com/s/article/due-diligence-scope-of-services) and you have **non-individual** Limited Partners (LPs) completing subscription documents in Carta, these LPs can now be instantly KYC’ed on the platform. Carta instantly KYCs the LP's control person and beneficial owner(s) in addition to the LP entity itself.
Carta’s instant KYC feature is made possible by Carta integrations with identity and verification databases like LexisNexis, Ekata, Socure, and more.
**Limitations**
- For this release, only US-based LPs are supported for instant KYC. Future releases will extend support to non-US LPs
**How it Works**
1. As an LP completes their subscription documents, non-individual LPs (for funds that avail of [Carta’s KYC/AML service](https://support.carta.com/s/article/due-diligence-scope-of-services)) will see a dedicated **Know Your Customer** section. Upon landing here, LPs will first be asked if their control person and beneficial owner(s) are all US persons -
2. If the control person and beneficial owner(s) are all US persons, then the LP will be shown forms to enter KYC information for these individual(s) -
3. Finally, the LP is also able to upload any entity formation documents and photo IDs here:
4. Once subscription documents are signed by the LP, the following are instantly KYC'ed: the LP entity, control person, and beneficial owner(s). If all pass KYC, this is immediately reflected in the Carta UI and General Partners are notified to countersign -
**Timing:** Rolled out to all on Aug 31, 2021
**Audience:** US-based Limited Partners, General Partners
Steven Camina
4 years ago8/30/2021
[**VC Firm Access Update**](https://releasenotes.carta.com/vc-firm-access-update-4uIawo)
# What’s new
We're updating firm permissions to be more granular for larger firms, while keeping them easy to manage for emerging managers.
Fund Admin clients on Carta will now have the ability to grant users on their accounts access to only the information they need: Investments, Limited Partner information, Fund Admin, and Fund performance data.
# How it works
**Admins** on a VC firm account have the ability to add users and update their permissions. Permissions are controlled under **Settings** on a firm account. Non-admins can go to the Settings page to see who the admin on their account is.
Basic VC firm accounts on Carta will be able to grant users Admin or Investments access.
Firms that use Carta for additional services have the ability to grant users additional permissions for each fund in the firm.
| | |
| --- | --- |
| **Permission** | **Grants access to** |
| Admin | - Add, update, or remove other users on the firm
- Accept securities on behalf of the funds in the firm
- Update payment information for the funds in the firm
- Complete tender offers on behalf of funds in the firm
- Use the portfolio merge tool |
| Investments | - Company information for companies that fund has invested in
- Schedule of investments |
| Partners | - Access to partner information, including contact information, commitment amount, and parter documents
- Access to fundraising and closings tools |
| Fund Admin | - Access to fund administration information, including capital calls, distributions, and quarterly reports
- Ability to communicate with fund admin team through Carta
- Ability to request and approve fund admin updates |
| Fund Performance | - Access to fund performance data |
| Audit | - View only access to investments, partners, fund admin, and fund performance data
- Users with audit access cannot have other access to the fund |
**Defaults**
For each user, an Admin can grant them “default” access to the firm. Defaults will automatically give users these permissions for new funds that are added to the account.
# Additional Resources
- [Support article](https://support.carta.com/s/article/vc-firm-permissions)
# Who this affects
This update affects all VC firm users on Carta. Users will not see a difference to their existing access with this change, but going forward Admins can update permissions.
# Timing
We are rolling this out to a small number of firms starting on August 30 and plan to roll out to all firms within a few weeks.
Ashley Chang
4 years ago8/24/2021
[**\[Early Access\] Live Chat Support**](https://releasenotes.carta.com/early-access-live-chat-support-1MFmta)
Carta now offers Live Chat Support to Early Access Users.
## Who does this affect?
Law firm users and companies in [Carta Launch](https://support.carta.com/s/article/launch-faq)
## **What’s new?**
Users can now opt to chat live with a Support Agent, in addition to the traditional Phone and Email Support.
They can simply access the [Help Center](https://announcekit.app/dashboard/post/161751/) by clicking on the dialog balloon at the bottom right of the screen, where the **Live Agent** option will be available.
After accepting the [terms and conditions](https://support.carta.com/s/article/carta-help-center-disclaimer), the user will be connected to a specialized Support Agent.
This rollout builds upon Carta's investment in a modernized approach to how our customers receive assistance in-app, enabling easy access to multiple engagement types to fit the context of the question, including:
- Chat
- Voice and video
- Co-browse
- Screen-sharing
All within the Help Center in-app!
Nathalia Wichan
4 years ago8/23/2021
[**Get Help!**](https://releasenotes.carta.com/get-help-3WDKOA)
Carta is making it easier to get the answers our users need, when they need them. _Introducing our one-click Help Center._
## Who does this affect?
Company administrators and viewers, law firm users, and personal portfolio holders
## **What’s new?**
Users can now access Carta's Help Center in one click by going to the dialog balloon icon at bottom right of the screen, where they can ask questions about the platform's workflows, products and features.
Carta's Natural Language Processing technology will find the most helpful Support Articles for that query within our knowledge base, and provide users with the right answer for their questions.
In the event a question needs to be escalated to a Support Agent, Carta users can also raise Support Cases without leaving the page, and they will have multiple support options available to fit their engagement preference.
Email Cases created through this workflow leverage user's session data and context to quickly route the Case to Subject Matter Experts, leading to faster resolution times.
When Phone is selected as the preferred method, the most appropriate phone number is displayed based on the user's type and question, ensuring users get connected to the right Support Agent for their need, without inconvenient call transfers.
[Learn more about Carta's Help Center](https://support.carta.com/s/article/carta-help-center)
Nathalia Wichan
4 years ago8/16/2021
[**New Carta Launch onboarding for early stage founders**](https://releasenotes.carta.com/new-carta-launch-onboarding-for-early-stage-founders-3rYfCw)
## What’s new?
Early stage founders can get self-onboard onto [Carta Launch](/content/launch/index.html) faster than ever before. Founders with up to $1M raised or 25 stakeholders or fewer can now create an account and onboard company data with ease, speed, and confidence for free.
**_Carta Launch is live on Product Hunt! We'd so appreciate [your upvote](https://www.producthunt.com/posts/carta-launch)!_**
## How it works
#### Sign up and create your account
1. On [carta.com/launch](/content/launch/index.html), click “Get Free Access”
2. Fill out a simple form with your company information to create your account.
#### Guided onboarding
1. We designed the new onboarding experience to be friendly and guide you through each step
1. With just Incorporation Documents and Common Stock Purchase Agreements, you can enter information about your Company, Founder Shares, and Users & Roles to complete your onboarding.
2. Once you’ve reviewed and activated your account, you’re all set to get started on Carta.
1. Your free Carta Launch plan is suited to fit your immediate fundraising and equity needs and set your company up for success as it scales.
2.
## Additional resources
- For step by step instructions for how to get started find our [video guide here](https://www.youtube.com/watch?v=jGBJahMg0JA).
- For more information about what is included in Launch, check out [this video](https://youtu.be/7K-8fmuTEvw) or check out our most recent [blog post.](/content/blog/carta-launch-free-startup-tools/index.html)
- For any additional questions, please reach out to [partners@carta.com](mailto:partners@carta.com) or get help through our in-app support.
David Zhang
4 years ago8/9/2021
[**Request for Information Dashboard Improvements**](https://releasenotes.carta.com/request-for-information-dashboard-improvements-2Yr8WI)
**What’s new?**
[Portfolio Insights](/content/investors/portfolio-insights/index.html) clients now have a more granular view of the requests for information they send to their portfolio companies. The request for information dashboard has been upgraded to include document type and status for each portfolio company, as well as a timestamp of the portfolio company’s last submission.
Along with making the request for information (“RFI”) dashboard more granular, it’s possible to configure exactly what is requested of each company, lessening the burden on portfolio companies and ensuring a streamlined process. [Click here to learn more about RFI configuration.](https://releasenotes.carta.com/modify-and-request-information-from-portfolio-companies-3da5jO)
It’s also now possible to cc multiple people on RFIs, ensuring anyone and everyone from your team is kept apprised of the quarterly collection process.
**Questions?**
For more information regarding the RFI dashboard, or Portfolio Insights, please reach out directly to your Portfolio Insights account manager or portfolio-kpi@carta.com.
Keyvan Firouzi
4 years ago7/23/2021
[**VC Fundraising Data Room**](https://releasenotes.carta.com/vc-fundraising-data-room-3gzxVC)
## What’s new?
Fund Managers are now able to set up a fundraising data room as part of our VC fundraising process. The Carta platform makes it easy to run the entire fundraising process in one place – from creating your data room to closing your fund with our subscription document process.
### Key features of this data room include:
- Integration with fundraising and subscription document experience
- Easy control of access for GPs
- Tracking documents viewed and visits to data room by user
- Watermarking documents
- Ability to require NDA signing
## How it works:
The fundraising data room is integrated into the Closings process. Any fund on Carta can use this data room with or without our subscription documents.
### Setting up a fundraising data room
1. Carta staff will create a fund and turn on Closings for you. On the Closings tab, the user will see the option to set up a data room
2.
After clicking Set up, users will see more information about what the data room offers. Then users can set a name and choose which settings to apply to this data room.
3.
After the data room is created, documents and folders can be uploaded to the data room.
### Viewing / Removing access
Firm users can see which users have access, which partner they are associated with, and the option to remove access from the Access section of the data room.
### Viewing Potential Investor Activity
Firm users can view LP activity, which is often an indicator of how interested they are in the fund, by looking at the Activities section of the data room.
### Watermarking
If funds turn on the watermarking feature in data room, all downloading PDFs will have a watermark containing the user's name, email, and time of download.
### LP access to data room
LPs can are invited to the data room through the Closings tool. They will receive an email invitation to view documents in the data room.
LPs can use the Request subscription documents button to request documents from the fund. When LPs are done viewing the data room, they can click Dismiss task to remove the task from their tasks section.
## Who can use this?
All investment firms on Carta. Contact your fund administrator or [investorservices@carta.com](mailto:investorservices@carta.com) to turn this on for your fund. Read more about the details of how to use this on [our support site](https://support.carta.com/s/article/vc-fundraising-data-room).
## Timing:
This is available to all investment firms as of July 21, 2021
Ashley Chang
5 years ago7/20/2021
[**Modify and Request Information From Portfolio Companies**](https://releasenotes.carta.com/modify-and-request-information-from-portfolio-companies-3da5jO)
**What’s new?**
Our [Portfolio Insights](/content/investors/portfolio-insights/index.html) clients can now easily request information from their Portfolio Companies. We’ve created the flexibility to select file types, KPIs, or information about the portfolio companies’ upcoming financings.
**How it works**
1. Navigate to Manage RFIs under Settings and select which companies from your portfolio you’d like to make edits to:
1. Enabled: Will request data from Portfolio Companies
2. Fiscal Schedule: Control if your request is a standard quarter end, or +1 or +2 month end (e.g. Q2 fiscal schedule of July 30 or August 30)
3. FND: Ask if Portfolio Company will be raising funds in the next year, if so, by when and how much.
4. AER: Do you want to send automatic email reminders if the Portfolio Companies did not reply.
5. Period: Request income statement figures for the last 3 months, 6 months, or 12 months
6. Requested Files: Request between:
1. Articles of incorporation and Cap Table (for companies that don’t manage their cap table on Carta)
2. Financials
3. Forecast and Board Decks.
7. Requested KPIs: Select from the list of 40 industry standard KPIs (Users, ARR, Web Traffic, etc). Enable KPIs individually or in industry-specific batches.
1. Toggle data collection, tailor the documents to be requested, and enable various KPI fields for a more intuitive RFI preparation process
1. Save preferences and send your next portfolio RFI during your typical request cadence.
1. Portfolio company upload portals will be customized accordingly, ensuring you’re only requesting exactly what you need from each logo
**Suggestions**
We recommend limiting KPIs to 3 or 4 to keep portfolio company upload portals from becoming overwhelming.
**Limitations**
Custom KPI (i.e. those that don’t exist in our drop down) functionality is scheduled to be available late Q3 2021.
**Timing**
The configuration page is currently released and enabled for all Portfolio Insights clients.
**Questions?**
For more information regarding RFI configuration, or portfolio insights, please reach out directly to your portfolio insights account manager or portfolio-kpi@carta.com.
Keyvan Firouzi
5 years ago7/20/2021
[**Home Screen Redesign on Mobile**](https://releasenotes.carta.com/home-screen-redesign-on-mobile-3l6iRy)
Users with holdings in private companies can now view their holdings details straight from the home screen for easy access.
# **Who this affects**
Shareholders with holdings in private companies.
# **Supported Platforms**
- iOS & Android
# **What’s New**
With an objective to provide insightful experiences, we’ve redesigned the home screen on the Carta app to display important holding details for each company. Company cards will now present the following information with the ability to view further details when clicked:
- Total number of options held, number of options vested and exercised
- A vesting progress bar comparing the number of vested and exercised options to the total options granted
- Summary of securities displaying types and quantities for each held
Kimberley Chong
5 years ago7/13/2021
[**Carta Total Comp Updates: Scorecard Export, Next Twelve Months Vesting and More**](https://releasenotes.carta.com/carta-total-comp-updates:-scorecard-export-next-twelve-months-vesting-and-more-3jXDig)
Check out the exciting new updates we’ve made to Bands, Scorecard and Admin pages
# Next Twelve Months (NTM) Equity Ratio
Equity Ratio is now being calculated using Next Twelve Months (NTM) equity rather than Total Equity granted to the employee. The new formula for Equity Ratio is as follows:
`An employee’s next twelve months (NTM) equity divided by the target annual equity for a new hire today.`
### Why did we make this change?
The Carta Total Comp Scorecard is designed to provide a clear view of the compensation health of your business. In order to build a score that better highlights attrition risk, we’ve changed the calculation for equity ratio to be based on unvested equity that will vest in the next twelve months.
Employees compensated below market rate are at risk of attrition, as they would be paid more in a new role than if they were to stay in their current position.
Vested equity does not incentivize employees, because it is already earned, and therefore does not help drive retention; put another way, vested equity is already “in the bank.” Calculating a health score that includes vested equity could lead to overlooking employees who are mostly vested and therefore at risk of going to work elsewhere.
The additional benefit of NTM is that it allows you to compare equity compensation on the same annualized timeframe as salary.
### Additional Details
While Equity Ratio will be calculated by using NTM going forward, we will continue to show Total Equity on the company and employee Scorecard.
# Scorecard Export
You can now easily download a CSV of the entire scorecard by clicking on the “Export” button. The CSV will contain all of the available columns, regardless of whether they are enabled in the column selector.
# Admin Page
Review and modify employee details from the new Admin Settings page. This page has a complete view of all employees synced from the HRIS and cap table.
### What’s changing?
Navigate to the Admins page from the Carta Total Comp top navigation bar. From there you can access the “Roles and permissions” tab along with the “Employees” tab
# New Bands Version
You can now see the date of the most recent Benchmark version in the Plan and Bands page. With the Preview plan feature, you can review the impact that updated benchmarking data has on the Scorecard prior to applying the new Plan.
### Why did we make this change?
When benchmarking data is current, it better enables you to be competitive in today's market with the offers you take to candidates and employees.
# Job Area Descriptions and Example Job Titles
Our Roles and Levels are now defined in-app.
### Why is this important?
Carta's leveling framework provides a foundation for your company to provide career pathing for employees and to review pay fairness for each job area and level. Without consistent leveling, companies can not accurately compare their employees to market rate data, limiting their ability to effectively hire and retain talent.
To help our customers ensure accurate and consistent leveling, we are now providing further descriptions for each job area we support, so users can make more informed leveling decisions based on commonly used job titles.
### What’s changing?
We have added a “Learn more” link in the "Example title" column in the "Bands" tab. This link will launch a modal where you can see sample job titles and descriptions for roles in each job area.
David Lichtenstein
5 years ago7/8/2021
[**Carta has released a share activity report to help stakeholders track their public holdings**](https://releasenotes.carta.com/carta-has-released-a-share-activity-report-to-help-stakeholders-track-their-public-holdings-yvDGg)
**What’s new?**
Public company stakeholders can now download share activity reports that capture their transaction activity and change in shares held during any period.
**How it works:**
By clicking on the new Statements tab, public company stakeholders enter in the start and end date that they would like to analyze:
The resulting report captures holdings at the beginning and ending of the period, and captures any transactions that cause an increase or decrease in the number of shares the participant holds.
Overall change in ownership is tracked in the _Portfolio at the end of period_ section. Holdings are separated into shares originating from ESPP (Employee Stock Purchase Plan) and non-ESPP sources. The section shows holdings in these categories at the beginning and end of the period.
The _Equity transactions in period_ section captures all transactions to equity (non-ESPP) shares during the period.
The following transactions are captured in this section, including the net effect of the transactions on a stakeholder's holdings
- Option exercises, including the effect of any shares sold to cover option cost and taxes
- RSU settlements, including any shares sold or withheld to cover taxes
- Shares sold
- Shares transferred in to Carta
- Shares transferred out from Carta
The _ESPP (Employee Stock Purchase Plan) transactions in period_ section captures all transactions that affect ESPP holdings.
This section captures the transactions below, including the net effect of the transactions on a stakeholder's holdings
- ESPP purchases
- Sale of ESPP stock
- ESPP shares transferred in
- ESPP Shares transferred out
The report also captures transactions that have been entered into Carta for record-keeping purposes. These transactions do not affect holdings and typically reflect transactions where shares are held or sold at an outside brokerage.
Transactions in this section include:
- Option cashless sale or hold transactions facilitated by outside brokers (where shares are sold or held outside of Carta)
- Option exercises where shares are delivered or held outside of Carta
- RSU settlements where shares are sold or held by outside brokers
**Who can use this?**
All public company stakeholders
**Timing:**
Stakeholders will be able to access this report through their portfolios starting 7/9/2021
Bryan Wells
5 years ago7/7/2021
[**User demographic survey for Table Stakes 2021**](https://releasenotes.carta.com/user-demographic-survey-for-table-stakes-2021-HAwNi)
**Announcing a new survey to collect demographic information for Table Stakes**
Carta users can now elect to provide their demographic information under the user profile section of their accounts.
**Why is this important?**
In 2018, the #ANGELS hypothesized that the gender equity gap was worse than the salary gap. Carta collects the data to help track and analyze what they called #TheGapTable. Together, we created the first ever report on equity distribution by gender and have continued to create it every year since. Equity is the largest lever for wealth creation in Silicon Valley and beyond; we believe it should be distributed equitably. This year we are focused on bringing that data into our application and making this demographic survey more powerful than ever.
**What’s new?**
When stakeholders navigate to their user profile they will now have a link to a demographic survey that will be used to power the data analysis for Carta’s Table Stakes in December 2021. We encourage all users to participate as each data point contributes to a more powerful analysis.
Navigate to your name in the top right corner and then “Profile and Security” before selecting “Fill out your demographic information”
**Who this is available to**
All users located in the US. Users who have opted out of communications or have asked to be added to our “do not analyze” lists will not be included in Table Stakes or other analyses.
Posted on behalf of Jessica Ray who led this project.
Jared Thomas
5 years ago7/5/2021
[**Capital Calls on Mobile**](https://releasenotes.carta.com/capital-calls-on-mobile-iByiA)
General partners now have the ability to view and track capital calls from the Carta iOS app. Investment firms can now track the progress of on-going and completed calls along with investor details, on the go, straight from the Carta app.
# Who this affects
- Fund administration clients
# Supported platforms
- iOS (Android coming soon)
# What's new
Fund Administration clients can now access their capital call details and investor information from the Carta app.
- The home screen now provides a summary of active capital calls with the ability to view individual call details.
- Navigating to a capital call allows you to view further call and investor details along with a full investor list which can be filtered by Paid and Unpaid calls.
- The Fund Details page now also provides a capital summary and the ability to view a list of Active, Drafted, and Completed calls.
Sudeep Kumar
5 years ago7/1/2021
[**Instant KYC for LPs Completing Subscription Documents**](https://releasenotes.carta.com/instant-kyc-for-lps-completing-subscription-documents-4dzDxK)
Limited Partners completing subscription documents on Carta can now be KYC’ed instantly.
**What’s New**
If your fund leverages Carta’s [KYC/AML service](https://support.carta.com/s/article/due-diligence-scope-of-services) and you have Limited Partners (LPs) completing subscription documents in Carta, these LPs are now instantly KYC’ed on the platform.
Carta’s new instant KYC feature is made possible by Carta integrations with identity and verification databases like LexisNexis, Ekata, Socure, and more.
**Limitations**
- For this first release, only individual (as opposed to entity) LPs are KYC’ed. Future releases will support KYC for entity (non-individual) LPs as well. This includes KYC for the LP entity, LP control person, and LP beneficial owners
- For this first release, only US-based LPs are supported. Future releases will extend support to non-US LPs
**How it Works**
1. As an LP completes their subscription documents, individual LPs (for funds that avail of [Carta’s KYC/AML service](https://support.carta.com/s/article/due-diligence-scope-of-services)), will now see a dedicated **Know Your Customer** section. Here, LPs can input the additionally required information for KYC -
2. Once subscription documents are signed by the LP, the LP is instantly KYC’ed. If the LP passes KYC, this is immediately reflected in Carta and General Partners are notified to countersign -
**Timing:** Rolled out to Limited Partners on July 1, 2021
**Audience:** Limited Partners, General Partners
Steven Camina
5 years ago6/24/2021
[**Effective Dates for Post-Termination Exercise Period (PTEP)**](https://releasenotes.carta.com/effective-dates-for-post-termination-exercise-period-ptep-1KhHcQ)
Post-termination exercise period (PTEP) refers to the amount of time an option holder has after termination to exercise their options. It is now possible to change the PTEP to give employees more or less time to exercise. This can happen on a one-off basis, or across many grants at once.
**What is new with this release?**
It is now possible to enter an effective date for the post-termination exercise period in Carta. This is needed to track changes over time and to have more accurate financial reporting.
**Modifying the PTEP**
The PTEP can be modified for a specific grant by selecting ‘Modify post-termination period’.
The original grant and the current PTEP values are visible on the left side of the ‘Modify port-termination exercise period screen’.
Select ‘Add Modification’, then enter an effective date for this change, select a modification reason, select the new modification details, then select ‘Save this modification’.
It is also possible to update the PTEP across multiple grants at once.
More information is available in [this support article](https://support.carta.com/s/article/updating-pte-periods).
_Note: Changing the post-termination exercise periods can have tax and accounting consequences and may need board approval, so consult your legal administrators before making any changes._
Jessica Ray
5 years ago6/24/2021
[**Public Cash Exercising Redesign**](https://releasenotes.carta.com/public-cash-exercising-redesign-1j2cIE)
**Users:** Option holders of public companies
**Platform:** Web (iOS and Android coming soon)
With an objective to unify the cash exercising experience between private and public companies, we've enhanced the Public "Cash" Exercising flow on Web to make the steps more seamless, intuitive and easy to follow. Implementing these changes to the exercising workflow allows users to review all the important details relating to their option grant exercise in a step-by-step manner, eliminating confusion about tax withholdings and allows them to better understand the stages of their exercise.
While our previous Cash Exercising workflow for public companies got us some great mileage, our processes and their caveats have evolved, which called for a cleaner, simpler and an overall better user experience. Below are some of the highlights that the new Cash Exercising workflow will introduce:
1. **Step-by-step procedure:** Intuitive and easy to follow, allowing the user to fully understand the process
2. **Improved tax estimation/information:** Targeted tax withholdings information provided to user with respect to the option grant type being exercised
3. **Cleaner UI:** Revamped headings, body text, call to action, helpful support links and more!
Irteza Arif
5 years ago5/27/2021
[**ISO 100K Dashboard**](https://releasenotes.carta.com/iso-100k-dashboard-1EyY7e)
_Get the transparency you need to manage ISO/NSO splits with the new ISO 100K dashboard in Carta._
## Who this affects
All Carta customers can now access the dashboard under Compliance > ISO 100K.
## What's new
The 100K rule for ISOs has been a historically opaque concept in Carta - customers and their legal counsel have often found it difficult to understand how the application of the rule results in the specific bifurcation of ISO vs NSO shares in a particular option grant.
The new ISO 100K dashboard brings a new level of transparency to the way in which ISO options are bifurcated according to Carta's automatic application of the 100K rules. For specific transactions and amendments that fall outside the purview of Carta's automatic bifurcation estimates, customers and their legal counsel can request access to the dashboard's grant editor feature, which allows legal administrators to change the ISO/NSO split estimated by Carta.
Last thing to mention: we worked closely with Orrick (one of Carta's law firm partners) to make sure we were solving this problem in a way that allowed our law firm partners to better support our customers. You can read more about that [here](/content/blog/iso-nso-splits-100k/index.html) on Carta's blog.
## Timing
Available now to all Carta customers.
Vince Lo
5 years ago5/25/2021
[**Support Partially Realized Investments**](https://releasenotes.carta.com/support-partially-realized-investments-1ul8nS)
This past week we released added granularity to the Investments, Overview and Firm Overview Tracking bars for investments. The in-app tracking bars will now show
- Total investment count
- Fully realized investment count
- Partially realized investment count
- Unrealized investment count
**Timing:** Rolled out to funds using our Fund Administration services on May 21, 2021.
**Audience:** General Partners, CFOs, Investment teams.
Jordan Agnew
5 years ago5/19/2021
[**Preview and and manage compensation plans**](https://releasenotes.carta.com/preview-and-and-manage-compensation-plans-QAK4M)
With the new Plans page, you can now craft and manage your compensation plan to meet the needs of a changing workforce. With Plans you can:
1. Review your active plan or create a new plan.
2. Edit and preview draft plans.
3. View your plan history.
Before making modifications to your plan, preview will allow you to see how a change in peer group, band ranges, or location strategy could impact your employees' compensation targets.
## Availability
- If you are interested in learning more about Carta Total Comp, please reach out to your Carta Customer Success Manager or sign up **[here](/content/carta-total-comp-cp/index.html).**
- You must be a Carta cap table customer to sign up for Carta Total Comp.
David Lichtenstein
5 years ago5/11/2021
[**Partners' capital status included in exports**](https://releasenotes.carta.com/partners-capital-status-included-in-exports-4wNpvy)
This past week we've added partners' capital status to the partners export. We know keeping tracking this is important for funds and can be a pain to do manually. Our Partners' exports on Carta now included the following information:
- Called capital
- Uncalled capital
- Percent of capital called
- Prepaid balance
- Outstanding balance
These updates apply to both the fund level and 'All Partners' export. We've added the following columns to the partners export.
**Where to find:** Log in to Carta > Select a fund within your investment firm > Navigate to the **Partners** tab > Select 'Export partners'
**Timing:** Rolled out to funds using our Fund Administration services on April 30, 2021.
**Audience:** General Partners, CFOs, Investment teams.
Jordan Agnew
5 years ago5/10/2021
[**Building your compensation plan is easy with Carta Total Comp**](https://releasenotes.carta.com/building-your-compensation-plan-is-easy-with-carta-total-comp-2rmkc8)
Streamline your compensation processes and compensate with confidence on Carta Total Comp.
# **Whats new?**
Easily build, manage and apply your compensation strategy across your entire employee base taking both geography and custom compensation bands into account.
To adjust your Plan settings, click on the _Details_ link on the top left of the Scorecard page.
## **Geo Adjustment**
You can now choose either _Local_ or _Uniform_ to choose the right approach for your fully remote, hybrid or in-office working arrangement.
- _Loca_ _l:_ When selected, all employees will have their target compensation automatically adjusted to the local cost of labor for their location. You can also set a minimum threshold to ensure that employees' target compensation are not set lower relative to the top metro market rate for their roles. We recommend setting the threshold to 80%.
- _Uniform_ _:_ Using this option, all employees' target compensation will be adjusted to the market rate for a single location.
## **Compensation Bands**
The compensation bands settings enables you to customize the width of your company's target bands for each track. Defaults are 15% for Individual Contributors (IC), 20% for Managers, and 25% for Executives.
****
## Availability
David Lichtenstein
5 years ago5/3/2021
[**Reconcile Stakeholder Updates**](https://releasenotes.carta.com/reconcile-stakeholder-updates-zxr1K)
**Announcing a new feature to manage Stakeholder Updates**
Carta cap table admins can now see the updates that stakeholders make in their portfolio. Admins can easily review and approve these changes made by stakeholders to update the information in the company Stakeholders ledger.
**Why is this important?**
The most up to date information on a stakeholder can reside in an HRIS system, Payroll system, with an employee or in Carta.
Now, stakeholder updates brings each of these sources of information together, better enabling administrators to decide what information to store and use in Carta through the reconciliation tool.
**What’s new?**
When stakeholders update their address, contact email, or other info in their Carta portfolio, the new ‘From portfolio’ tab under ‘Stakeholder updates’ will surface these changes and allow the admin to quickly choose which updates to reflect in the company stakeholder ledger.
Navigate to stakeholder updates from the Stakeholder tab in the navigation
Quickly identify discrepancies across systems and choose which information to store on the ledger
**Details**:
For more detail on making Stakeholder Updates, please find more information [here](https://support.carta.com/s/article/stakeholder-details-reconciliation).
If you are interested in setting up an HR or Payroll integration, learn more [here](https://support.carta.com/s/article/hris-integrations-overview).
**Who this is available to**
All Carta cap table customers
Jessica Ray
5 years ago4/27/2021
[**Make better compensation decisions faster**](https://releasenotes.carta.com/make-better-compensation-decisions-faster-n2xcQ)
# **Carta Total Comp**
Carta cap table customers can now access our benchmarking and planning platform to streamline their compensation processes and compensate with confidence.
## **What’s new?**
Workflow tools built on top of the world’s largest equity data set and powerful HR integrations to help you make better compensation decisions faster. Carta Total Comp customers are now able to access the following compensation benchmarking and planning features:
- **Automated Leveling -** Map each of your employees into an area, track and level using Carta’s universal leveling framework.
- **Scorecard -** Summarizes employee salary and equity information from your HRIS and cap table to give a holistic overview of your organization’s total compensation.
- **Bands -** Automatically generate equity and salary bands for any role by filtering for job area, track and location.
- **HRIS Integration -** Integrate instantly with any of the most common HRIS systems.
- **_Coming Soon_ \- Plan -** Easily build, manage and apply your compensation strategy across your employee base.
_Get a pulse on your org through your company **Scorecard** tab_
_Benchmark any role in the **Bands** tab_
## Availability
## Additional Resources
- Carta Total Comp announcement from our Chief Product Officer, Heidi Johnson. Link to [**Blog Post**](/content/blog/introducing-carta-total-comp/index.html) **.**
David Lichtenstein
5 years ago4/26/2021
[**Fund performance metrics on Carta**](https://releasenotes.carta.com/fund-performance-metrics-on-carta-JKayY)
We know how important Carta is in helping fund managers manage and track the performance of their funds. This month we've add a host of new features to help fund managers get and understand the metrics they need about their funds.
## **Here's whats new:**
**1\. New fund performance page**
- New table view with an option to 'switch to chart view'
- Added metrics definitions and explainer tool tips
- Period selector to allow you to easily select ‘end of’ last year, quarter, or month.
- Traceback for very metric so you can to view the underlying source data
- New API using Carta General Ledger for all contributions and distributions data.
_Example of new Fund Performance page:_
_Example of traceback of TVPI metric as of 12/31/2020:_
**2\. New Excel export:**
We've added a new export on the page that includes all the metrics and details about the underlying data.
**3\. Support for parallel entities:**
We've also added support for parallel entities (or fund families). You will be able to see all the above features at a consolidated level.
**Where to find:** Log in to Carta > Select a fund within your investment firm > Select the Fund performance tab
**Timing:** Rolled out to funds using our Fund Administration services on April 16, 2021.
**Audience:** General Partners, CFOs, Investment teams, Limited Partners.
Jordan Agnew
5 years ago4/20/2021
[**Deal Documents on Carta**](https://releasenotes.carta.com/deal-documents-on-carta-1B6cV2)
Fund managers are flooded with troves of documents for every investment their fund's make. These documents house vital terms that need to be quickly referenced during deal negotiations and potential exits to answer questions like- Who has blocking rights? Keeping these documents organized and easily accessible is also key to running a stress free audit that institutional LPs can have confidence in.
## What’s New
For our early access group, funds using the Carta General Ledger can now see their deal documents directly on their realtime SOI. For each portfolio company, easily access documents by asset including both new investments and the supporting documentation for subsequent valuation updates.
### How it works
1\. Work with the Carta team to capture all deal documents
2\. Click through any asset on the realtime SOI
3\. See all associated deal documents and valuation support
4\. View or download the actual documents to verify any needed terms.
5\. Have your Carta Fund Administrator grant your auditor access to the Carta General Ledger so they can access any documentation/support the same way.
Stay tuned as we roll this out to a bigger audience and introduce more tools to make keeping track of deal terms across a portfolio even easier. Reach out to your account manager if you would like to be considered for early access.
**Timing:** Rolled out to Carta Fund Administration early access clients April 2021
**Audience:** CFO's **,** Fund Managers,Auditors **,** General Partners
Alex Legault
5 years ago4/19/2021
[**Carta’s public company reporting experience has been updated**](https://releasenotes.carta.com/carta's-public-company-reporting-experience-has-been-updated-44nk6Q)
**What’s changing?**
The public reporting experience has been enhanced and is now more consistent with Carta’s private markets reporting. Public company administrators can now more easily run reports in Carta.
Improvements include:
- Reports are now organized into folders by category
- Reports are searchable
- Certain reports that were previously run in areas outside of the reporting tab are now organized into the reporting experience (example: RSU settlement report)
A Virtual Tour is available via the Start Virtual Tour link at the top left corner of the reporting experience. For a limited time, the legacy reporting page can be visited via the Take me Back button at the top of the page.
**Who this affects**
Public company administrators
**Timing**
This feature will be available on 4/19/2021.
Bryan Wells
5 years ago4/12/2021
[**Run a Single Report to Aggregate Security-Level Details by Stakeholder**](https://releasenotes.carta.com/run-a-single-report-to-aggregate-security-level-details-by-stakeholder-4CqDCw)
**What's changing?**
Companies can now quickly get the information they need and reduce room for error through our new report builder template. This ‘stakeholder ledger’ enables admins to pull information on stakeholders, cap table, and vesting information in a single report.
Users no longer need to combine multiple reports or run offline calculations to view vested/unvested, forfeited, excised, cost center, employee ID, and relationship in one place.
**To create a Stakeholder Aggregate report on Report Builder**
Click ‘Create a custom report’ on the Capitalization > Reporting page, and select ‘Stakeholder ledger’.
This will open up the Report Builder interface. From here, you can select any of the available columns. Note that not all columns are available, as some cannot be aggregated at the stakeholder level.
**What’s next?**
During Q2 we will be adding additional columns, starting with fully diluted ownership. We will also be adding additional filtering options, starting with specific equity plans and share classes.
Alex Chen
5 years ago4/12/2021
[**Private Options International Exercise- Supporting 3rd party money transfer payments**](https://releasenotes.carta.com/private-options-international-exercise-supporting-3rd-party-money-transfer-payments-2Znagw)
Non-US optionholders at US private companies will now be able to send exercise payments to Carta from **3rd party money transfer providers such as Wise(formerly known as TransferWise), Revolut, Xoom, Remitly etc.**
We are giving optionholders the flexibility to either send payments through 3rd party money transfer providers or through [wires](https://releasenotes.carta.com/international-exercising-submit-and-settle-your-exercise-with-carta-yfGQo) initiated from banking financial institution.
**Who this affects:**
Non-US optionholders at US companies, when **[international exercise via wire feature](https://releasenotes.carta.com/international-exercising-submit-and-settle-your-exercise-with-carta-yfGQo)** is enabled by their company
**What was the problem:**
When we launched the ability for optionholders to wire exercise funds to support in-app money movement, optionholders were hit with bank fees, including intermediary fees, which led to holders underfunding or overfunding their exercises.
Sometimes, optionholders had to walk to a bank to wire the exercise funds as some of the banking financial institutions did not support online wire transfer.
**What’s new:**
Optionholders can use the same payment instructions provided after an exercise is approved and send funds via 3rd party money transfer providers.
Ensure that under "Recipient gets" in 3rd party money transfer providers you input exact USD funds required for exercise payments. If amount required for exercise does not match with received funds, exercise will be underfunded and we will require remaining funds to complete the exercise.
Once Carta receives exact funds, we initiate outgoing payment to the company. After payment to the Company is succeeded, we generate Certificate.
This feature is an additional payment option that Carta is providing for our customers
**Timing:**
LIVE for companies that have exercising and settled via Carta feature turned on.
If you would like to have this feature added, contact Carta support!
Aneetha Sampath
5 years ago4/2/2021
[**Vesting & Exercise Status Bars**](https://releasenotes.carta.com/vesting-and-exercise-status-bars-5Yp0I)
_Users viewing the "Vesting schedule" tab in the security details modal will now see a new column in the "Progress" section labeled "Status" under which progress bars appear next to each vesting tranche that indicate the vesting and/or exercise status for each vesting tranche._
## Who this affects
All users in all companies with securities that have vesting schedules
## What's new
For security holders and administrators viewing individual security details, click on the "Vesting schedule" tab to see the new status bars (see red boxes below):
Depending on the status of a security's vesting and exercise status, you'll see the following colors:
- Gray: unvested tranche
- Light blue: vested tranche
- Dark blue: exercised tranche
Previously, if there was an exercise for _part_ of a vesting tranche, you'd either see the row colored in gray if the tranche was unvested, or you'd see the row colored in blue if the tranche was vested - this was confusing since neither of these results were technically accurate.
Now, if a vested tranche is partially exercised, you'll see the dark blue exercise color overlaid on the light blue vested color (show below). If an unvested tranche is partially exercised in the case of an early exercisable option grant, you'll see the dark blue exercise color overlaid on the gray unvested color.
## Timing
Live now!
Vince Lo
5 years ago4/1/2021
[**Exercise History - Shareholders can now centrally view their complete exercise history**](https://releasenotes.carta.com/exercise-history-shareholders-can-now-centrally-view-their-complete-exercise-history-3MbCxy)
_Users can now access their exercise history across their entire portfolio in one spot. This makes it easy to review their activities over a defined time frame - like a tax year!_
# Who this affects:
- Shareholders who have exercised a private company option grant
# What's new:
- **_Find all exercise details in one location_**\- Within Exercise History you can see a report of all your exercises across your entire portfolio. This makes it easier to get an at-a-glance view of your exercises activity.
- **_Filter for specific companies or date range_** \- Narrow your report by company or date range to customize your report.
- **_Customize your report_**\- Choose which fields are relevant for a given report.
- **_Ex_ _port your report_** \- Download and view your report in a portable CSV format.
# Timing:
- Released March 2021
- Support for all public company exercises coming Q2 2021
# Where to find Exercise History
- When viewing your portfolio, select the _**Account**_ drop down menu to find _**Exercise History**_
Gwynne Burgess
5 years ago3/29/2021
[**Stakeholders from public companies can now more easily view their share and cost basis information**](https://releasenotes.carta.com/stakeholders-from-public-companies-can-now-more-easily-view-their-share-and-cost-basis-information-1voiYw)
**Who this affects:**
Public company stakeholders
**What's new:**
Public company stakeholder portfolios now feature share lot details and transaction details tabs, capturing information about shares that are held and shares that have been sold.
**Share lot details tab:**
The Share lot details tab shows the stakeholder’s share lots. Stakeholders can view their acquisition date and cost basis for all share lots, as well as the source of the shares. For share lots linked to ISO awards or employee stock purchase plans, this view shows a qualifying date capturing the earliest date that the share lot can be sold in a qualifying disposition. The FMV at acquisition is also captured in the table to facilitate tax analysis.
**Transaction details:**
The second tab features transaction details for any sold lots. Stakeholders can view their sold share lots and their related cost basis and acquisition dates. This view also shows the disposition type if the share lot is linked to an ISO exercise or ESPP purchase. The view captures the proceeds for each liquidated share lot.
Bryan Wells
5 years ago3/25/2021
[**Certificates of exercised option grants are now generated and issued after funds are confirmed**](https://releasenotes.carta.com/certificates-of-exercised-option-grants-are-now-generated-and-issued-after-funds-are-confirmed-3yy39m)
For private companies, Carta will now generate the resulting certificate after the option exercise funds are sent to the company and have succeeded (may take 1-2 business days).
**Who this affects:**
Private companies: Admins and shareholders
**What was the problem:**
Previously, resulting certificates were generated after Carta confirmed the funds from stakeholder, but before the funds were sent to the Company. This created reconciliation issues for the company as they could not verify if funds were sent to the company before issuing the certificate.
**What’s new:**
We have now updated the flow to generate the certificate after funds are sent to the company, which may take 1-2 business days for the company to receive the funds.
This will help Company admins to reconcile exercise funds received during the exercise workflow.
Aneetha Sampath