You Ask and We Create! New Functionality for SmartCap
Posted by Leah Stashko on Wed, Apr 25, 2012 @ 12:39 PM
We wanted to share with everyone a few changes that DocDep is working on to enhance our cap table functionality. Most of these enhancements have come from requests that we received from the 150+ firms using our cap table software.
Soon to come, a new view! You will be able to view by event; a view that mimics what we often see in the spreadsheets that our sent to us for Cap Table Audits service. We have also been asked to improve option vesting and our tracking as well. This functionality should be out in early May.
Our CPA and Auditor, Brandon, spent this past weekend working with a firm on their cap table, which featured four preferred rounds of financing, including conversions of previous rounds into new rounds. As a result of this, he has asked us to add some functionality allowing you to buy shares of a round at different prices.
The most complex update we are working on is our waterfall functionality. This is a complex function, with all sorts of hurdle rates, preferences issues, option strikes and other things to consider. Luckily, our CEO Farid Naib, has an extensive background and a few papers published in derivative math, but even he seems to be looking for more aspirin. We’re developing to take those headaches away!
Cap table Horror Story of the Week: One firm transposed the number of shares and dollars, and then incorrectly reported percent ownership. Don’t let this happen to you.
For our VC and PE firms, we have been hard at work helping our clients get out over 15,000 K1s. We are very glad that tax season is over!