Carta, a Palo Alta, CA-based provider of a platform for the companies to manage the equity, has now secured $800 Million in the funding round of Series D.
The Meritech, and Tribe Capital led the round which makes the total valuation of the company to $800 Million with the participation from some of the existing investors.
Tribe Capital moreover is a new venture capital firm which is launched by the Arjun Sethi, who led the Social Capital Investment in the Carta, Jonathan Hsu, and Ted Maidenberg, a trio of the former Social Capital Partners who exited the firm.
The company as of now has a plans to use the funds to launch the additional products for the investors, especially for collecting the data from their portfolio companies and managing their back office and also to develop its transfer agent and equity administration services and products.
The startup which is led by the Henry Ward, Carta offers the ownership management and compliance solutions which makes it easy for the private and public companies of all stages to turn the employees into the owners. As an SEC-registered transfer agent, the company helps the different company issues, transfer securities, value and uses its reporting and administrative tools to keep users compliant with the latest SEC and IRS regulations.
“We’ve come this far by changing how ownership management works for private companies—popularizing electronic securities and cap table software, combined with audit-ready 409As,” Ward wrote in an announcement. “But our ambitions go far beyond supporting privately-held, venture-backed companies.”
Carta, which counts the Wealthfront, Squarespace, Coinbase, Robinhood and more as the customers and currently manages the $500 Billion in the equity. In 2018, Carta expanded its headcount from 310 employees to 450 employees, launches the board management and portfolio insights products and also completed a study in partnership with the Angels that also highlighted the major equity gap female startups employees are victims too.
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