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CARTA RELEASE NOTES PRODUCT UPDATES


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Corporations


CARTA DEAL PRO FORMA

What’s new?

With Carta's new Deal pro forma tool you can generate an accurate deal-ready pro
forma model with iterative calculations in just a few minutes. Users will be
able to create a deal-ready pro forma that takes into account all the nuances of
the model and handles the complicated conversion math for SAFEs and Notes. 

What's important or valuable about this?

Carta automates the process of building a pro forma so that it can be completed
on the Carta platform within minutes. Carta Deal Proforma eliminates unnecessary
iterative and redundant work. With the new tool you can increase the capacity
for companies to be more versatile with their modeling as it’s easy to make
incremental changes instead of starting from scratch. Starting today you can:

 * Build a deal pro forma in a few minutes instead of hours and view results
   instantly
 * Share or view on Carta or exported as an excel file.
 * Use your latest cap table information for real-time changes to your pro
   forma.

What do I need to do?

Carta Deal Pro Forma will be available to all Carta customers in their Scenario
Modeling tab.

How does it work?

Under Fundraising > Scenario Modeling > Pro forma tab,  you can see create a pro
forma and generate a full view of your next round and export a deal-ready pro
forma cap table. 

You can:

 * Add new round terms
 * Add new money investors for this round, including consideration for investors
   with pro rate. 
 * Add convertibles converting in this new round or uncheck convertibles to be
   excluded from this pro forma.
 * Define the share classes for the financing
 * Include Investor Pro Rata Rights, including investors with convertible Pro
   Rata Rights
 * Add advanced terms such as conversion methods, anticipated option pool
   increase, specification of authorized shares and common stock buffers
 * View and share in app or export to excel

Have a question or feedback? Visit our support site.



.

Shubhi Nigam2 days ago02/28/2023
Carta LLC


STREAMLINE DOCUMENT SHARING


WHAT'S NEW?

A new column in the Document Library shows you if a document has been shared or
not and who it has been shared with.


WHAT'S IMPORTANT OR VALUABLE ABOUT THIS CHANGE?

These enhancements will help you streamline document sharing workflows, such as
sharing a large volume of Form K-1s with interest holders ahead of tax season.
Easily keep track of which documents have been shared with interest holders and
which ones have not. You can also filter the Document Library by sharing status
which can help you quickly see which documents still need to be shared.


WHAT DO I NEED TO DO?

See the new ‘Shared with’ column in the Documents Library. You can filter down
to ‘Shared documents’ or ‘Not shared documents’ by clicking on the filtering
menu in the Documents Library search bar.








HOW DO I LEARN MORE OR GET HELP?

For more information on the Documents Library and distributing Form K-1s, visit
our support site.

Des Duggan3 days ago02/27/2023
Carta LLC


ENHANCED VISIBILITY INTO TRANSFERRED INTERESTS


WHAT'S NEW?

When you transfer an interest in Carta, you can now see all the information
related to the transaction in the event details.


WHAT'S IMPORTANT OR VALUABLE ABOUT THIS CHANGE?

Gain complete visibility into every transfer transaction and see clearly in the
event details if an interest was issued from a transfer as opposed to a new
issuance on the cap table.

Track changes to the interest during the transaction and the issuance details,
including where the interest was transferred from, to who, quantity, price, and
total amount paid for the transfer. 


WHAT DO I NEED TO DO?

You can see the details of each transfer transaction in the event details:







HOW DO I LEARN MORE OR GET HELP?

For more information on transferring interests, visit our support site.

Des Duggan3 days ago02/27/2023
Carta LLC


VIEW INTEREST HOLDER DETAILS AND TRACK EMPLOYEE IDS


WHAT'S NEW?

You can now get a comprehensive view of interest holders, including demographic
information, interests issued to them, and documents shared with them.
Additionally, you can now track employee IDs in Carta. 


WHAT'S IMPORTANT OR VALUABLE ABOUT THIS CHANGE?

Enhancements to the interest holder details provide a single source of truth in
Carta for who each interest holder is, what interests they hold, and which
documents have been shared with them. 

When you record an Employee  ID with each interest holder in Carta, you can use
it as a unique identifier to streamline reporting across Carta and other systems
such as payroll. 


WHAT DO I NEED TO DO?

To get a comprehensive view of an interest holder you can click on any row of
the interest holder ledger. This will open a page with various tabs to view the
holder details, view all interests that have been issued to them, and view all
documents that have been shared with them. 

To track and report on employee IDs, edit an interest holder to add their
employee ID. Shortly, these employee IDs will also be pulled into our excel
based reporting. 










View the interest holder demographics in the Summary tab of interest holder
details.







View the interests issued to this holder in the Holdings tab.







View the documents associated with these interests and shared with this holder
in the Documents tab.








HOW DO I LEARN MORE OR GET HELP?

For more information, visit our support site.

Des Duggan3 days ago02/27/2023
Carta LLC


NEW TIME SERIES GRAPHS SHOW CHANGES IN OUTSTANDING VALUE ESTIMATES


WHAT'S NEW?

For each Outstanding Value estimate, a new time series graph shows how the value
of the interest has changed over time.


WHAT'S IMPORTANT OR VALUABLE ABOUT THIS CHANGE?

Interest holders now have a visual that represents the change in Outstanding
Value and can help them understand the value of their equity and future
potential.


WHAT DO I NEED TO DO?

Admin users can enable Estimated Values, including Outstanding Value, when
creating a new interest type or editing an existing one.







Once enabled, the Outstanding Value estimate details will include a time series
graph to show the change in value.








HOW DO I LEARN MORE OR GET HELP?

For more information on Estimated Values, see our support articles for Admins
and Interest Holders.

Des Duggan3 days ago02/27/2023
Carta LLC


NEW ADMIN USER FIELDS


WHAT'S NEW?

When inviting a new Admin user to your Carta account, you can now capture their
job title and company name. The Team & Security page allows you to add new
users, edit or remove existing ones, and keep track of who has access.


WHAT'S IMPORTANT OR VALUABLE ABOUT THIS CHANGE?

The new capabilities provide complete visibility into who has access to your
Carta account and the type of access they have. This is especially important if
you have various internal and external users that need access to your cap table
data in Carta, such as law firms or deal teams and back-office admins at Private
Equity firms.


WHAT DO I NEED TO DO?

Visit the Team & Security page to add new users, edit or remove existing ones,
and keep track of who has access.



When inviting a new user to your Carta account, select from a pre-set list of
job titles or choose Other to input a different job title that is not on the
list. You can also add the company name here.








HOW DO I LEARN MORE OR GET HELP?

For more information, visit our support site.

Des Duggan3 days ago02/27/2023
Carta Total Comp


QUARTERLY REFRESH OF SALARY, TOTAL CASH, AND EQUITY BENCHMARKS


WHAT’S NEW?


BENCHMARKS VERSION 2023-23-02

WHAT CHANGES CAN I EXPECT FROM THESE BENCHMARKS?

We have updated salary, total cash, and equity benchmarks for all job areas and
specializations. 

Salary and total cash compensation benchmark changes in this release reflect a
slowing market for talent among startups, falling slightly since last quarter
(approximately 1% overall). As in previous updates, specialization level data
continues to be more volatile than the broader sample, as sample sizes for these
roles are smaller than job area level data. For example, while Web Engineering
and Quality Assurance saw large increases last quarter, this quarter’s data
shows decreases in those benchmarks. 

Equity benchmarks have decreased approximately 15%, consistent with the
decreases that began last quarter as a result of the slowing market. Lower
benchmarks cut across most roles and levels, though executive equity grants
(particularly at early to mid-stage companies) dropped slightly less, and even
increased in some cases. 

WHAT WERE THE LARGEST AREAS OF MOVEMENT FROM THESE BENCHMARKS?

Salary - Product, Support, and Operations roles saw the largest increases,
approximately 1-2% versus last quarter. Sales, Administrative, and Information
Technology roles saw the largest decreases ranging from 3-5%.

Equity - Legal, Support, and Human Resources roles saw the largest decreases.
Decreases in Engineering, IT, Finance, and Operations were less pronounced than
the overall sample

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

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

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


WHAT’S NEXT?

Carta Total Compensation is working to bring International market targets to the
Employee and Company Scorecards, as well as developing benchmarks for new
specializations.

6 days ago02/23/2023
CorporationsCarta Platform HR Administrators General AvailabilityImprovement


IMPROVED EMPLOYEE MATCHING


WHAT’S NEW? 

This release improves the workflow for matching employees with stakeholders on
Carta. Employees with the same name and email as the stakeholder will
automatically match, saving their employee ID and thereby linking the
stakeholder with the employee record. The improved workflow guides you through
reviewing all other employee matches. 


HOW DOES IT WORK? 

For the reviewed matches, you can now ignore, to be reminded next time, or to
choose a different stakeholder. These decisions will be saved and will not need
to be rematched when running the employee matching workflow. You can now review
all matches and update the decisions later. 


WHAT DO I NEED TO DO? 

To get started, you will need to connect your external data to Carta either
through connecting your HRIS system, uploading a spreadsheet, or pasting the
information into Carta directly.






With your external data connected, Carta will attempt to automatically match
your employees. From there you review suggested matches, deciding to approve the
suggestion, ignore it, remind me later, or manually choosing a different person.










If there are any employees from external data that don’t match at all to Carta
stakeholders, you can choose to ignore them or manually choose a person to
match.







The workflow is then completed and all matches can be reviewed.








HOW DO I LEARN MORE?

For more information on Employee Matching, please read our support article.

2 weeks ago02/10/2023
Investor Services Investors (Fund Admin)


IMPROVED CAPITAL CALL AND DISTRIBUTION NOTICES

What's new?

GPs can now include a detailed breakdown of capital in their capital call and
distribution notices to maintain transparency with their investors.

What’s important or valuable about this change?

Institutional investors prefer to see a breakdown of capital versus a lump sum
for internal reporting purposes. We make it easy to provide inventors that
information:

Capital calls: Specify what dollar amount or percentage of the amount called is
going towards investments, expenses, management fees, and more.

Distributions: Break down the return by dollar amount or percentage into
capital, realized gains, or income.

What do I need to do?

On the Overview tab of your portal, select the entity, then navigate to the
Capital Activity tab. Click Request Capital Call and follow the steps. Specify
the breakdown of capital in the Notes for your Fund Administrator section.  

For distributions, click Request Distribution and complete the steps above. 

Once submitted, it will appear on the capital call or distribution notice for
your review and approval.




How do I learn more or get help?



Have additional questions about Carta’s capital activity? Reach out to your
account manager or request a demo today. 

 

Milena Wall3 weeks ago02/07/2023
Investor Services Investors (Fund Admin)


DOWNLOAD ALL AUDIT DOCS WITH ONE CLICK

What's new?

A smoother audit season.

Auditors can now bulk download all fund documents from Carta in a single click.

We’ve bundled all fund audit documents in one place so auditors no longer have
to spend time downloading multiple documents from multiple places. 

What do I need to do?

Navigate to the Reports & Documents tab of your portal, then select Audit.
Documents are bundled into two packages per entity:

Package 1: Formation documents, bank statements, investment documents, invoices
& calculations, and partner commitment changes and transfers  

Package 2: Partner subscription agreements and side letters, capital call
notices, and distribution notices

Select the package and click Download. 




How do I learn more or get help?

Have additional questions about how Carta can support you during your fund
audit? Reach out to your account manager or talk to one of our representatives
today. 

Kathleen Meil3 weeks ago02/07/2023
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