Easier LP access to capital call notices

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

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

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

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

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

Good Till Cancel (GTC) Orders

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

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

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

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

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Introducing an Exercising Simulator for option holders

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

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Presets

  • Part of this update includes scenario presets determined by your type of grant(s). By default, we will show Exercise All Vested and Customize Your Exercise choices. If you possess a grant that is early exercisable, you will be able to see and use that preset in your portfolio.

  • Customizing your exercise will allow you to enter in share quantity amounts in the tool. Changing the date updates the vested amount based on your vesting schedule. Screen Shot 2019-10-01 at 4.05.21 PM.png

Estimate your costs

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

  • Pre-tax cost (strike price x quantity)
  • NSO taxes (including option spread)
  • AMT taxes (breakdown of calculation)

To support this, you will be able to enter in standard tax data per scenario.Screen Shot 2019-10-02 at 4.25.45 PM.png

You can also drill down about each type of cost by clicking on the View Details button on the right. Below is an example of how we explain Pre-tax cost. Screen Shot 2019-10-01 at 4.37.39 PM.png

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

Updating Emails for Stakeholders

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

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

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

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

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

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

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

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

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

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

Improvements to self-service onboarding for Founders

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

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

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

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

Integrate Carta with BambooHR

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

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

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

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

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

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

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

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

Technical improvements to navigation

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

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

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

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

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

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Retract Board Consents

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

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

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

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

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

Major Update: Carta App for Android

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

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

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

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Get the app now!

Track reported issues from stakeholders

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

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

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