Your cap table. Your terms.
Your company’s equity, from incorporation through your first priced round to the numbers your accountant asks for. Clear enough to run a round without a consultant, at a flat published price. Connect Claude to ask questions and draft changes, which wait for you to confirm. Add your email and we’ll send you what you need to start.
Everything you need to run your company’s equity.
Each job below links to a help-center guide you can read without an account. Export everything in one click, in an open, versioned format. Read the open-schema spec →
Incorporate your company
Start the entity right, however you incorporate.
C-corp, LLC or non-US company
Pick the entity type and where it was formed, and the app adapts its units, its screens and the US tax that applies. A BVI company gets BVI resolutions, its register-filing and annual-fee dates, and unlimited authorized shares.
Founder stock & 83(b)
Issue restricted stock with a vesting schedule or fully vested, at a price that starts at the fair market value on record. Draft the RSPA or attach the agreement you signed, and track the 83(b) and its clock.
Retrofit founder vesting
Add vesting to founder shares already issued, without re-issuing them.
Set up now, finish later, or hand it off
Create the company first, then import, build by hand, or invite your CFO to finish the cap table.
Set up your company from Claude
Hand Claude your Carta, Pulley or Mantle export, or tell it about your company from scratch. Each step is a proposal you confirm.
A seat for your attorney or fractional CFO
Give an outside advisor read-only access with the Counsel role. They see every client they work with in one list.
Bring your cap table in, and take it out
Import what you have. Leave whenever you want.
Import from Carta, Pulley, Mantle, the Tenacap workbook or a spreadsheet
Move your existing cap table in, reconciled, and review it before it commits.
Import checks, holder by holder
After an import, every holder and certificate is checked against your file (Pulley exports today), with a report you can download.
Any spreadsheet shape, mapped
Pick the sheet and the row your column names are on, so a title above the table does not break the import.
Provenance survives the move
A share that came from an option exercise or a converted SAFE keeps naming the grant or SAFE it came from.
The Tenacap workbook
Room for class terms, several plans, part-exercised options and vesting, imported in one pass with every cross-tab reference checked.
Blank cap-table template
Download a blank spreadsheet, fill it in and upload it. No account needed to download.
Bulk contact import
Cap-table exports leave out emails. Upload a contact sheet and match every holder in one pass.
Always-current cap table
Every stakeholder, class, and security in one fully-diluted view.
Open export
Outstanding shares as CSV, the cap table as open-schema JSON, or one archive of every record and document with a manifest you can verify.
Hire & grant equity
Stand up a pool and grant to your team.
Option pool, grants & vesting
Plans, ISO/NSO grants, custom vesting and exercises, with each plan’s reserve counted against authorized shares.
Restricted stock from your equity plan
Grant restricted stock out of your plan, and tie stock already on the cap table to the plan it came from, so the plan shows the shares it has left.
Phantom equity & SARs
Phantom stock and stock appreciation rights: plans, grants and cash payouts, kept apart from shares, valued at your 409A today, re-measured at a financing when granted as a percentage, and paid first at a sale in the exit model.
409A & board valuations
Keep your 409A, or your board’s FMV determination, so option strikes stay defensible.
Raise on a Note or SAFE
Sign and record early-stage financings.
Raise a priced round
Close a Series A and convert what came before.
Run your board
Authorize and record the decisions that move ownership.
Board approvals
Authorize, e-sign, attach the signed consent, and keep a diligence-ready trail.
Voting
Voting power by holder and class, filtered, against a majority calculator. Send a stockholder consent to that set and track it against the threshold.
Share buy-backs
Repurchase from one or more sellers, with a board consent and an agreement per seller. Shares sit in treasury until the board retires them.
You confirm what the assistant proposes
Every change an assistant asks for waits as a proposal, showing ownership before and after, the checks that ran and who asked, until a person with the right role confirms or declines it.
Model the future
See the next round and the exit before you commit.
Exit terms from your documents
Drop a convertible note or your charter and Tenacap reads the change-of-control multiple, whether the cap is pre-money or post-money, and each preferred class’s preference, participation and seniority, with the sentence and page, for you to confirm.
Scenario modeling
Model the next round and watch SAFEs convert first.
Exit waterfall
Enter an exit value; see the order of payout, who gets what, and the math behind every line, note multiples and preferences included. Any preferred term Tenacap had to assume is named, with one click to confirm or correct it.
Founder calculators
Shares for a target percent, and the pool you’ll need.
Connect your AI assistant
Add Tenacap to Claude, or another MCP client, from your browser. Ask who owns what and model a round. Nothing it proposes is written until you confirm, and you can revoke it in Settings.
Keep everyone informed
A clear view, and a nudge, for every stakeholder.
Stakeholder portal
A plain-English home for each holder, showing value, vesting and taxes.
Holders ask their own assistant
A holder connects Claude to their own equity: what has vested, what an exercise costs, when an 83(b) is due. It sees what their portal shows and no one else’s, and can prepare an exercise request or an 83(b) date that the holder sends with one click in the portal.
Deadline notifications
A nudge before a 409A expires or an 83(b) comes due.
Stay compliant & audit-ready
The tax, filing, and diligence work, handled.
Change log & audit trail
Who changed what, when, why, and from what to what. Tamper-evident and exportable.
Equity health checks
Flags a stale 409A, overdue 83(b)s, unsigned grants, or a plan listed as a person before a round.
Delaware franchise tax
The annual report, with the tax figured both ways so you pay the lower, and a reminder before March 1.
Advanced compliance & tax
Rule 701 limits, Form 3921, and QSBS clocks.
ASC 718 stock comp
Black-Scholes fair value and an auditor-ready expense schedule.
Diligence pack
A fingerprinted zip of your table, reports, and audit trail.
See the full help center →
Published, and the same for everyone.
What founder-friendly means, in writing.
These five are in our terms of service, so you can hold us to them.
Published pricing
Every tier’s price is on this page, including the top one. There is no enterprise tier to call about.
One price, everyone
Everyone on a tier pays the same rate, with no intro discounts or negotiated deals. A price change applies to the whole tier at once, with 90 days’ notice.
No conflicts of interest
We will never run a secondary market, fund admin, or anything that depends on contacting your shareholders.
Never trapped
Export your cap table any time in our open schema, published under Apache-2.0, with a public guide to moving out.
Only what you need
We build what early founders need and leave the rest out. If something you need is missing, tell us in one click.
Security built in from day one.
Your cap table holds share counts, tax IDs and bank details for everyone who owns part of your company. Here is how it is kept.
Encrypted in transit and at rest
SSNs, EINs and bank details are also encrypted field by field, with AES-256-GCM, before they reach the database. So are the cap-table files you upload.
We never mine it
We don’t sell your data or train models on it, and we email your shareholders only when you authorize each message. Every change goes into a tamper-evident, hash-chained audit trail.
Never lost, never locked in
Managed Postgres with automated backups, and independent penetration testing before we leave beta. Export everything in one click any day, and erase it all when you leave.
More in Security and Trust & Security.
Side by side, at the seed stage.
Each vendor’s published seed-stage price, or the median reported contract where the vendor publishes no list price.
| Tenacap | Carta | Pulley | Mantle | Excel | |
|---|---|---|---|---|---|
| Published price | $0 / $39 / $99 /mo | ~$14,725/yr median¹ | $1,200–$3,500/yr² | Tiered | Free |
| Per-stakeholder fees | Never | Yes | Above plan caps | Yes | — |
| Runs a secondary market | No | Yes | No | No | — |
| Export format | Open schema (Apache-2.0) | OCX / CSV | Excel | CSV | Native |
| Full history + audit trail export, free & self-serve | ✓ one click | Varies³ | Partial | — | — |
| Everyone pays the same published price | ✓ in ToS | Negotiated | Published tiers | — | — |
| Free attorney & CFO seats | ✓ Unlimited | Limited | Limited | Limited | — |
| Import from competitors | Carta, Pulley, Mantle, spreadsheet | — | Limited | Limited | — |
¹ Carta doesn’t publish list pricing; figure is the median annual contract from buyer-reported data (679 contracts, PriceLevel). Carta’s Launch plan is free up to 25 stakeholders. ² Pulley Startup ($1,200/yr, 25 holders) and Growth ($3,500/yr, 40 holders), per pulley.com/pricing. ³ Carta and Pulley both export (Carta is an Open Cap Table Format founding member), but buyers report historical transactions and audit trails don’t always transfer cleanly. Competitor details from public pricing pages.
Priced for what your company needs at each stage.
You move up a tier when your company reaches the milestone that needs it. Nothing is metered per stakeholder, so many small checks cost nothing extra, and the free tier has unlimited stakeholders.
While Tenacap is in beta, nobody is billed. The tiers below take effect at general availability, and we’ll tell every beta customer before that starts.
Starter
For companies that haven’t raised a priced round. Move in or out freely, set up an option pool, and manage your SAFEs and notes.
- Unlimited stakeholders
- SAFEs, convertible notes, options, RSAs
- 409A & 83(b) tracking
- Fully diluted views & vesting
- One saved scenario
- Carta, Pulley, Mantle & workbook import
- CSV + JSON export
Upgrade when you’re closing your first priced round.
Start free →Traction
Most teams start hereOnce you’ve raised a priced round. Run your board, give investors and employees their own portals, and model what comes next.
- Everything in Starter
- Document templates + e-signature
- Employee & investor portals
- Unlimited saved scenarios
- Pro forma + waterfall modeling
- Board approvals & consent e-sign
Upgrade when accounting and audit questions start.
Get started →Growth
For when your accountants ask about stock-comp expense, tax reporting and audit-ready diligence.
- Everything in Traction
- ASC 718 expense reporting
- Rule 701 tracking
- QSBS tracking
- Form 3921 + ISO/AMT tax reporting
- Diligence pack - fingerprinted audit export
Everything Tenacap does.
Get started →Buy one feature from the tier above.
Add it on its own, so one audit question doesn’t force a whole upgrade.
Add to Starter · $8/mo each
Five add-ons on Traction cost 5 × $12 = $60/mo, the same as moving up to Growth ($99 − $39). Five on Starter cost $40/mo, against $39 for Traction. So at your fifth add-on we move you up a tier and stop billing add-ons.
Attorney and advisor seats are free across every tier. Third-party services (e.g. a partner 409A) are pass-through priced.
A free seat, and every client in one list.
Outside counsel and fractional CFOs use Tenacap free, on every tier. Each client invites you and picks your role: Counsel to read the cap table, Editor to do the work. You don’t need a company of your own.
How the advisor seat works →// roles, set by each client:
// counsel (read), editor (write)
Cap tables impact a company broadly: the founding team, the funders, the acquirers. Incumbents have drifted toward serving everyone but the company: pricing that punishes hiring and rewards raising from a few big checks, exorbitant switching costs, and vendors who email shareholders without consent.
I built Tenacap the other way around. The pricing logic these companies inherited - charge by stakeholder, treat founders as the thing to be milked - made sense when software was expensive to build. In 2026 it doesn’t. So Tenacap is flat-rate, founder-aligned, and boring on purpose: we sell software. The promises on this page are written into our terms of service.
- Jacob Reider, Founder
Building for founders, from day one.
A few years ago I had coffee with a founder who’d raised $100M from four investors. Her cap-table bill was almost nothing. I’d raised $2M from dozens of small checks - and I was paying a fortune. And then every year at renewal that fortune kept increasing dramatically. Tenacap is the first cap table I’ve seen that rejects antiquated software business practices that no longer make sense.
Tenacap is the only cap table platform that gives me exactly the features I need without unnecessary complexity and bloat. The team is clearly UX-obsessed and cares about delivering a simple, clear, and organized experience.
- Arna Ionescu Stoll, CEO at Wavely Diagnostics, ex-IDEO designer
Questions we get a lot.
How can you price so differently from Carta and Pulley?
We’re not venture-backed, so nobody is pushing us to grow revenue. We want to serve founders and make enough to sustain it. “Can the price go up?” below says what we commit to.
How does Tenacap make money without per-stakeholder fees?
A flat, published subscription. Traction ($39/month) covers what it costs us to run Tenacap for you. Growth ($99/month) is where we make our margin.
What if my attorney or lead investor insists on Carta?
Then you can move. Export is one click, in an open schema any tool can read, and our guide to moving out is public. Your attorney can also have a free seat to see your cap table in Tenacap.
Can the price go up?
Yes. A change applies to everyone on that tier at once, with 90 days’ notice, and at most once in any 12 months. You will never pay more than someone who signs up today, or less.
Can I buy just one premium feature?
Yes. Any feature from the tier above yours can be added on its own, at $8/month each on Starter or $12/month each on Traction. Five add-ons cost as much as moving up a tier, so at your fifth we upgrade you and stop billing add-ons.
Do I need an implementation project to get started?
No, and there is no implementation fee. Upload your Carta, Pulley or Mantle export, review what we flagged, and confirm. Or start from scratch, in the app or by telling Claude about your company.
How do you decide what to build next?
We ask. Every page has a one-click way to tell us what you need, and the people writing the code read it. Everything we ship is listed in our What’s New log. The top request does not always win, because some compliance work nobody asks for has to come first.
Is my data encrypted?
Yes, in transit and at rest. SSNs, EINs and bank details are also encrypted field by field (AES-256-GCM) before they reach the database, and access is least-privilege throughout. Independent penetration testing is scheduled before we leave beta.
Do you support LLCs? International entities?
Tenacap is built for US C-corps first and supports LLCs. A company formed outside the US with shares (a BVI or Cayman company, a UK or Singapore Ltd) can be set up as a corporation: shares, options and SAFEs work, and US-only features like QSBS and Delaware franchise tax stay out of the way.
What happens to my cap table if Tenacap shuts down?
You can export everything in one click, every day, and the schema is public under Apache-2.0 so other tools can import it. Our terms of service commit that if we wind down you get at least 90 days’ notice, then at least 90 more days of free, read-only access to download the complete archive: cap table, ledger and audit history in the open schema, plus every document and signature record we hold, in one file with a verifiable manifest.
When can I use it?
Now. Beta is open. Add your email and we’ll send you how to get started. We onboard in waves by signup date and segment, and founders preparing for a priced round go first.
Am I charged during beta?
No. The prices above apply at general availability, and we’ll tell every beta customer before billing starts.
A cap table that respects the company you’re building.
Beta is open. Sign up and we’ll send you how to get started, at the published price everyone pays.
Get started →