Carta, a company which helps to manage the equity of private and public companies and investors, pulled in $80m during 2018, alongside the close of its Series D.
By the end of the year, the company’s valuation stood at $800m.
Carta’s Series D round of funding was led by Meritech and Tribe Capital, with participation also coming from previous backers of the company.
Through the injection of capital, it is hoping to ‘transform how ownership management works for investors and public companies’, Carta stated. In doing this, it is also looking to launch a number of new products for investors, particularly in aid of collating data from their portfolio companies and managing their back office.
Moving forwards, the management company shall continue to buildout its transfer agent and equity administration products and services, in order to help private companies using Carta have a smooth transition to going public.
Carta helps private companies, public companies and investors to manage their cap tables, valuations, portfolio investments and equity plans. Its services include cap table management, 409A valuations, portfolio insights, fund administration, ESPP and secondaries, among others.
The company witnessed strong growth across 2018, with milestones including, reaching $500bn in equity on the platform, growing to 450 employees, the launch of the board management and portfolio insights products and conducting more 409A valuations than any other provider.
This momentum is set to remain through 2019. In a blog post from the company said, “We anticipate that companies will continue to stay private longer. This will cause an increase in the number of companies who offer liquidity to employees and early investors on Carta. That said, we also anticipate a large number of IPOs next year, and we hope to support those customers too.”
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