At Cheqly, we have come to realize that startups are relying increasingly on stock-based compensation and complex securities to attract talent and meet diverse investors’ needs. This trend is a key driver behind the expected 12.5% CAGR growth of the market for cap table solutions through 2033.
These solutions can be vital not just for equity planning but also for securing venture debt. Promising startups often drive away venture debt providers because of convoluted equity structures, which leave a startup vulnerable to disputes and compliance risks.
As cap table management grows in importance, we’re committed to helping startups confidently navigate this evolving landscape. In this article, we will help you select the right cap table platform for your startup’s needs.
Industry Trends and Market Insights
These expectations align with broader market dynamics. As non-AI startups navigate a challenging funding environment, many are turning to stock-based compensation as a strategic way to manage costs. Increased stock-based compensation adoption will, in turn, create a demand for cap table management solutions.
However, high implementation costs remain a key barrier to adoption. In other words, cost-effective cap table solutions are poised to disrupt the current market landscape and reshape the competitive hierarchy.
Features to Look for in Cap Table Management Software
To leverage equity in an informed manner, a startup’s cap table management software should have the following features:
- Scalability: Scalable cap table solutions are capable of supporting a large number of shareholders while also having transparent pricing models and a user-friendly interface. Such solutions will enable you to easily onboard shareholders without any hiccups.
- Round modeling: Round modeling is a feature offered by certain cap table solutions that enable users to visualize the impact of funding scenarios on the ownership structure.
- Automated updates: A cap table solution with automated updates spares you the trouble of manually updating the cap table after equity changes and notifying stakeholders.
- ESOP management: Startups frequently rely on stock options to attract talent in a cash-efficient manner. So, a startup must choose a cap table solution that enables it to issue and manage employee stock options.
- Compliance support: Assistance in compliance-related tasks, such as expensing stock options and support in filing the correct forms and elections, will ensure hassle-free equity management.
- Comprehensive equity instrument support: When only limited types of equity instruments are supported, it may cause misconceptions about ownership structures and potential investor returns.
- Analytics: A cap table software will drive informed decision-making by empowering you to analyze equity trends and compile reports.
- Data security and access management: A cap table software should keep your data private and secure while enabling you to delegate various levels of access to team members.
Top Cap Table Management Providers
We discuss the core features of leading cap table software in 2025 and identify which types of companies are best suited for each.
Eqvista
Eqvista offers a streamlined cap table management platform where users can effortlessly track equity and ESOPs. The software enables real-time cap table tracking and updates, ensuring that your management and shareholders are always empowered to make informed equity decisions.
- Pricing: You can access Eqvista’s Premium package for just $2 per shareholder per month, whereas comparable solutions can cost anywhere between $6,000 to $77,000 annually. Their cap table services are at 70% lower prices than most competitors, making it the preferred choice for startups and growing companies looking for cost-effective solutions.
- Features: Eqvista specializes in cap table management, making the complex processes of equity management simpler. It also offers 409A valuation services, conducted by certified professionals, to meet the specific needs of businesses and help them maintain a clear understanding of their business’s value.
- Target market: The platform is suitable for startups, SMEs, and larger companies. It is designed to help company founders, shareholders, and investors with effective equity management.
Carta
Equity management software platform designed to help companies manage their capitalization tables, valuations, and equity plans. It offers tools to accurately track ownership stakes, issue and manage shares, and handle employee stock options in a digital format.
- Pricing: Carta’s prices are significantly higher than Eqvista’s. If you have up to 25 shareholders, you could subscribe to the Launch Plan for $280 per year. However, annual costs typically range from $4,536 to $9,210, depending on company size, with the median annual price being $4,550.
- Features: Their cap table platform can handle complex equity structures and is equipped with advanced equity management tools, which can be useful for large enterprises. On this platform, you can also execute automated clearing house (ACH) transactions and wire transfers. At premium pricing, Carta provides dedicated audit support. The platform has extensive compliance features, some of which may be surplus to the needs of most companies.
- Target market: Carta is more suitable for large enterprises with complex equity structures, but it may be cost-prohibitive for smaller startups. While its features provide flexibility, they may feel overengineered when you need to act swiftly.
Qapita
Qapita is an equity management platform designed to digitize the tracking of ownership structures, transactions, and securities for businesses, with a primary focus on startups and private companies.
- Pricing: You can subscribe to Qapita’s Starter Plan for $40 per month. However, if you have a large number of stakeholders, you may need to upgrade to the Standard Plan, which has a $250 onboarding fee and a $600 annual fee. For Series B+ companies, they offer a Growth Plan with custom pricing starting at $3,000.
- Features: They specialize in developing solutions that meet the needs of regional markets. Qapita’s cap table platform has automated workflows for equity management, which are compliant with APAC regulations. For certain regions, they also offer due diligence support and a transaction management feature. Its ESOP administration features are built primarily for the Indian market.
- Target market: Qapita has a significant presence in the Asia-Pacific region, specifically in India and Southeast Asia. But, given its prevailing focus on the APAC region, it may not yet be the best choice in the US.
Shareworks
Shareworks, formerly known as Solium, is a comprehensive equity management platform now owned by Morgan Stanley. It serves both private and public companies, offering tools to manage capitalization tables, equity compensation plans, financial reporting, and regulatory compliance.
- Pricing: Shareworks adopts a custom pricing model, indicating a high-touch and enterprise-focused approach.
- Features: Shareworks offers highly advanced equity management and compliance features. However, the platform also places a lot of strain on the user. Its enterprise-grade equity management system requires a complex setup. It offers global compliance support, but with lengthy implementation processes. You can integrate Shareworks with your HR and payroll systems, but that may require significant technical expertise.
- Target market: While its advanced reporting and analytics features are valuable for large enterprises, they can be overwhelming for smaller teams.
Cake Equity
Cake Equity is an equity management platform designed for startups to streamline their cap table management, employee stock option plans, and capital raising processes.
- Pricing: Although Cake Equity offers a free plan for early-stage companies, the costs can be significant for companies issuing stock-based compensation. Essential compliance features such as 409A valuations and support for ASC 718-compliant stock expensing are available only as add-ons or in custom plans.
- Features: They offer employee equity tracking and equity plan administration features. However, these features may feel limited for startups with non-standard equity plans, unique vesting requirements, or global equity structures.
- Target market: They are suitable for startups with limited equity management needs.
Detailed Comparison of Best Cap Table Providers
The following table summarizes how the top five cap table platforms compare.
| Feature | Eqvista | Carta | Qapita | Shareworks | Cake Equity |
| Free tier | Supports up to 20 shareholders | Supports up to 25 shareholders | Available with limits | Not available | Available with limits |
| Starting price | $2 per shareholder per month | $280 per year | $40 per month | Custom pricing | Not disclosed |
| Cost vs. competitors | 70% cheaper | Industry standard | Industry standard | Premium | Not disclosed |
| 409A integration | Yes | Yes | Limited | Yes | Limited |
| Waterfall analysis | Yes | Yes | Yes | Yes | Available but with limited functionality |
| E-signing | Yes | Yes | Yes | Yes | Yes |
| Free Cap Table Migration | Yes | No | No | No | Yes |
| Global compliance | Yes | Yes | Regional focus | Yes | Available but with limited coverage |
| Target market | Startups as well as large enterprises | Enterprise-focused | APAC startups | Large enterprises | Startups |
Who’s the Most Cost-Effective Cap Table Provider?
While most cap table platforms do not publicly disclose their pricing models, we can help you compare those that offer transparent pricing.
| Eqvista | Carta | Qapita | |
| Most common annual cost of the highest package | $1,990 | $4,550 | $3,000 |
Note: Pricing information is sourced from publicly available brochures and independent third-party research.
Which Cap Table Platform Should I Use?
Having reviewed the offerings of the leading cap table platforms, we can confidently summarize our recommendations as follows:
| Type of company | Recommendation | Rationale |
| Early-stage startups (Pre-Series A) | Eqvista’s Freemium or Premium plans | Cost-effective solutions packed with essential features |
| Growing companies (Series A-B) | Eqvista’s Premium or Enterprise plans | Access to various key compliance and equity management features at unmatched prices |
| Large enterprises (Series C+) | Evaluate between Eqvista and Carta | Carta’s features can be good for large enterprises with complex equity structures, even though Eqvista offers sufficient functionality at significant savings. |
FAQs on Choosing a Cap Table Software Provider
Here we address some of the common queries about cap table software.
How much does cap table software typically cost?
Annual packages for cap table software can cost as low as $1,200 to over $10,000, depending on the platform. But some platforms let you get started with a freemium plan, and you can upgrade if the need for advanced features arises.
Is it possible to manage my startup’s cap table without using software?
You can manage your cap table using spreadsheets, but this approach is prone to manual errors, delays, and costly mistakes as equity structures become complex.
Can cap table software help with fundraising?
A cap table software helps you look sharp and close fundraising rounds faster. It can provide instant clarity to prospective investors about who owns how much, and help existing stakeholders assess dilution risks without messy spreadsheets or guesswork.
How does cap table software help manage equity in a startup?
Cap table software is meant to help you track ownership, manage employee stock options, and make informed equity decisions.
Is switching cap table software easy as my startup grows?
Most cap table management platforms allow you to import and export data into common spreadsheet formats. But switching software needs careful planning, as differences in terminology, formatting, and structure can easily lead to errors.
Do investors prefer startups to use cap table software?
Investors place more trust in startups that use cap table software as it enhances transparency and ensures better compliance.
Make the Smart Choice for Your Cap Table
The right cap table software can be a game-changer for startups. It enhances transparency in ownership structures, simplifies ESOP management, and guides informed decision-making, making it an investment worth considering.
Two factors that matter the most while choosing cap table software are compliance support and pricing. Our analysis suggests that Eqvista is the leader in these two categories. Eqvista delivers robust functionality at the most economical price, making it especially attractive for cost-conscious startups.