Best Equity compensation administration platforms for pre-IPO tech startups managing options, RSUs, and cap table complexity in USA
Non-sponsored, Expert Verified and Transparently Ranked Equity compensation administration platforms for pre-IPO tech startups managing options, RSUs, and cap table complexity in USA
Published: December 22, 2025 | Verified by: Ted Scheiman & Rob Watts
Executive Summary
We analyzed 4 solutions. Top Recommendation: Equity Management by Carta scored highest due to Only private market provider authorized to issue, track, and process payments for company securities, with class-leading audit support..
Content Verification
Side-by-Side Comparison
| Feature | #1 Equity Management (Carta) | #2 Equity Management Platform (Qapita) | #3 Board Management (Diligent) | #4 Compensation Benchmarking (Ravio) |
|---|---|---|---|---|
| Best For | Only private market provider authorized to issue, track, and process payments for company securities, with class-leading audit support. | Supports complex equity stacks from seed to IPO with flexible ESOP infrastructure, liquidity solutions, and benchmarking on one platform. | Glass Lewis integration for pre-IPO compensation testing and real-time shareholder activism tracking with 12+ years of global data. | Real-time data integration beyond traditional surveys for precise equity compensation benchmarking. |
| Cap Table Management | Cap table and security holder management; issue electronic securities and handle stock transfers; build employee equity plans with electronic exercising. Automate stakeholder updates via HRIS/payroll, streamline communications (data room, board consents, investor updates), and enable secure money movement as an SEC-registered transfer agent with ACH/wire support. (carta.com) | Central cap table with real-time updates; supports common/preferred, SAFEs, options, warrants. Issue share certificates/SAFEs with e-signature and approvals. Model fundraises/exits. Read-only stakeholder views and fully diluted ownership. Investor workflows and board consents. Audit-ready, timestamped transaction ledger with downloadable ledgers and historical snapshots. (qapita.com) | Provided via Diligent Equity: real-time cap table management for stocks, options, warrants and convertible notes; version history/audit trail; ASC 718 expense/disclosure reporting; employee equity portal; and scenario modeling for financing rounds and exits/waterfalls. (diligent.com) | Not a cap table management tool. Ravio integrates with cap table/equity systems (e.g., Carta, Capdesk) and ingests equity data via these integrations, HRIS, or spreadsheets to power equity benchmarks. Additional cap table integrations listed as “coming soon” (e.g., Ledgy, Pulley, Qapita, Shareworks/Computershare). (ravio.com) |
| Integration and Scalability | Integrates via native APIs and Merge with 100+ HRIS; supports SFTP/CSV; offers corporate SSO via your IdP and Issuer/Investor APIs for embedding and data access. Scales to complex, multi-entity structures (look-through ownership), with sandbox environments and enterprise compliance (SOC 2, ISO 27001). (support.carta.com) (support.carta.com) | Integrations: SSO via Okta (OIDC); optional SSO and HRIS integrations; HRIS/payroll linkage for tax withholding; APIs available. Scalability: global compliance frameworks for 150+ countries; built to scale from startup to IPO (listed-grade governance). (okta.com) | Integrates with Microsoft 365/Teams, Google Drive/Docs, DocuSign, NetSuite (Built for NetSuite SuiteApp) and S&P Global Market Intelligence; 90+ integrations. Built on Diligent One for unified GRC; scales to 25, 000 customers and 700, 000 directors/executives globally. (diligent.com) | Integrates via API with 170+ HRIS, ATS, and cap‑table systems; real‑time sync of hires/pay changes; ~30‑minute HRIS setup. (ravio.com) If unsupported, offers manual uploads and SFTP for large orgs. Built on Google Cloud and uses Merge/Kombo connectors, supporting enterprise‑scale, multi‑region deployments. (ravio.com) |
| Audit and Compliance Support | Audit-ready 409A valuations meeting IRS/SEC standards, with analyst support to mitigate audit risk. (carta.com) ASC 718 reporting (GAAP/IFRS) includes downloadable audit packets and guide. (carta.com) QSBS Attestation offers annual eligibility checks, letters, and compliance support. (carta.com) Security compliance: SOC 1, SOC 2, ISO 27001. (carta.com) | Audit/compliance: timestamped, documented transaction history with downloadable ledgers and historical snapshots; read-only auditor views. Audit-ready ASC 718/IFRS 2 reports with period locking and audit prep; IRS‑compliant, audit‑ready 409A valuations with audit assistance; manage 83(b) elections and cross‑border compliance (150+ countries). (qapita.com) | Role-based permissions, encryption and immutable audit trails, including e-signature audit logs for votes. (diligent.com) Supports secure sharing with regulators/auditors and tracks document updates and logs. (diligent.com) ISO 27001-certified and SOC 2 Type II, audited platform. (diligent.com) Board Reporting for Audit dashboards surface internal audit control testing and audit plan progress to directors. (diligent.com) | GDPR-compliant with signed DPA; encryption at rest and in transit; anonymised benchmarks; Vanta‑monitored Trust Center. (ravio.com) Pay Equity supports EU Pay Transparency Directive reporting. (ravio.com) Customer audit rights and 48‑hour breach notification provided in the DPA. (ravio.com) Sub‑processors (GCP, Auth0, Merge, Kombo) hold ISO/SOC certifications. (ravio.com) |
CartaCompany Information
Description
Carta’s platform of software and services lays the groundwork so you can invest, build, and scale with confidence.
What They Do
Provide a platform for equity and fund management.
Who They Serve
Startups, private equity firms, venture capitalists, and general partners.
Key Value Propositions
Target Customers
Industries Served
Contact Information
Summary
Carta provides a full suite of equity management tools for startups from cap table creation to IPO preparation, including issuing equity, managing options and RSUs, and delivering audit-ready 409A valuations. It supports pre-IPO tech companies handling complex cap tables and compensation plans. Leading VC-backed companies use it for compliance and scalability.
Key Features
- Cap Table Management
- 409A Valuations
- SAFE Financings
- Financial Reporting
- Equity Advisory
- Total Compensation Benchmarking
- Liquidity Management (tender offers, secondary transactions)
- QSBS Attestation
- Scenario Modeling
- Waterfall Modeling
- Deal Closings
- Distributions
- IPO Advisory
Key Benefits
- Issue, track, and process payments for company equity from one secure platform
- Flexible suite of solutions that scale from fundraising to hiring and IPO
- Built-in compliance tools and year-round support
- Full-service onboarding and one-on-one admin training
- Highly-rated support from equity, financial, and accounting experts
- First-class security and data privacy
- Access to reliable salary and equity benchmarks
- Ability to run liquidity events and tender offers with full cap table control
- Optimize equity tax benefits (QSBS exemption)
- Audit-ready 409A valuations
Who Is It For
- Founders
- Early-stage startups
- Private corporations
- LLCs
- Private equity firms
- Venture capital-backed companies
- Companies preparing for IPO
- Companies with under 25 employees and up to $1 million raised (Carta Launch)
End-to-end equity management
From incorporation to IPO, leverage a powerful suite of equity management tools to build and scale your company.
Designed for founders. Built to scale.
- Issue, track, and process payments for your securities from one platform.
- Access solutions designed to scale from fundraising to hiring and IPO.
- Leverage built-in tools and support to help with compliance year-round.
Your cap table is just the beginning
Discover the 360-degree solution built for founders, by founders.
One platform, unlimited potential
Access a full suite of tools for every stage—from building your first cap table to preparing for IPO.
- Cap Table Management: Easily view, track, and issue equity on a secure platform that scales with you.
- Total Compensation: Use startup-specific benchmarks to help you forecast, hire, and retain talent.
- Equity Advisory: Leverage tax strategies from experts to help employees understand their equity.
- Liquidity: Run tender offers while maintaining full control of your cap table.
- QSBS Attestation: Optimize your equity tax benefit with the QSBS tax exemption.
- 409A Valuations: Get an audit-ready valuation from the industry's leading provider.
More than a platform. A partnership.
Work with an experienced team, dedicated to your success at every step.
- Full-service onboarding: Partner with an onboarding manager to ensure data accuracy and receive one-on-one admin platform training.
- Highly-rated support: Access a team with decades of equity, financial, and accounting experience by chat, email, phone, or video.
- First-class security: Keep your information private with strict procedures, systems, and tech in place to protect your data.
Trusted by over 1.6 million equity holders
- Used by companies such as Betterment, Brex, Demostack, Ispot TV, Perkville, Radar
FAQs
You have questions, we have resources and answers.
- Support for LLCs and Private Equity firms
- Demo and video tour available
- Full-service onboarding process
- Carta Launch for early-stage startups
- Robust data security for cap table data
Resources
Supporting Resources
Detailed Comparison
Cap Table Management
Integration and Scalability
Audit and Compliance Support
QapitaCompany Information
Qapita is a SaaS-Net startup with offices in India & Singapore, transforming how equity is managed and traded in the private capital markets in this region. Qapita’s software solution automates the equity management process for startups including workflows around CapTables, ESOPs, Due-diligence, and transactions.
Keywords
Description
A single platform serving Companies & Funds. Equity Management and Fund Management addressing all the ‘owner’ stakeholders’ needs.
What They Do
Qapita provides a comprehensive platform for equity management and fund management, simplifying processes for companies and funds.
Who They Serve
They serve early-stage startups, large companies, and various stakeholders including founders, HR, finance teams, and investors.
Key Value Propositions
Target Customers
Industries Served
Contact Information
Key Pages
Summary
Qapita offers cap table management software for startups to issue, track, and model equity including options, SAFEs, RSUs, preferred stock, and warrants. It provides workflows for board consents, investor updates, and equity compensation advisory for ESOPs and RSUs. Designed for pre-IPO growth with audit-ready tools and IPO preparation features.
Key Features
- Cap table setup and management for any capital structure (common/preferred stock, SAFEs, warrants, options)
- Real-time tracking and reporting of equity ownership and transactions
- Automated issuance and signing of share certificates and SAFEs with e-signature and approval workflows
- Configurable dashboards and views for different stakeholders (founders, investors, legal, finance)
- Scenario modeling for fundraises, exits, option pool refreshes, and convertibles
- Investor relations and governance workflows (board consents, investor updates)
- Audit-ready transaction history with timestamped records and downloadable ledgers
- Real-time stakeholder views with customizable, read-only sharing
- Bulk import and migration of existing cap tables with data validation
- Compliance support for 409A valuations, 83(b) elections, and regulatory filings
- Support for global operations and complex ownership structures
Key Benefits
- Set up cap tables in minutes and model fundraising scenarios
- Scale equity management as the company grows and structures become more complex
- Stay compliant and audit-ready with secure, accessible equity data
- Automate repetitive tasks, saving hours every week
- Reduce errors and avoid costly compliance mistakes
- Build trust with investors through transparent ownership and governance
- Enable structured liquidity events for employees and early stakeholders
- Cost-effective alternative to competitors like Carta
Who Is It For
- Founders
- HR teams
- Finance teams
- Investors
- Law firms
- Fractional CFOs
- Accelerators and VCs
- Private and listed companies (startups to enterprises)
Cap table management software for every stage
Manage your equity with total clarity with Qapita’s cap table management software. Issue, track, and report everything in one secure platform that scales as you grow. From fundraising to reporting, Qapita keeps your cap table clean, compliant, and always ready to share with investors.
Recognized as a Global Leader on G2
We are ranked the best in Customer Satisfaction, Enterprise and Mid-Market.
Beneifits of Qapita's cap table software
- Set up your cap table in minutes and establish a foundation that supports every stage of your growth.
- Model your first fundraise and understand how investor term sheets affect dilution.
- Simulate outcomes and make informed equity decisions early.
- Supports options, SAFEs, preferred stock, and warrants with inbuilt workflows for board consents, investor updates, and structured governance.
- Ensures equity data is audit‑ready and accessible to the right people.
- Manage 409A valuations, 83(b) elections, and reporting in one secure cap table platform.
Cap table management key features
- Accurate and fundraise-ready cap table
- Easy setup and support for any capital structure
- Issue and sign share certificates and SAFEs
- Manage every equity event, not just track it
- Configurable dashboards and views
- Model fundraises, exits, and scenarios
- Investor relations and governance
- Real-time stakeholder views
- Audit-ready transaction history
Metrics
Helping you elevate your equity management
- Companies Serviced: 2400+
- Countries Served: 60+
- Stakeholders: 500,000+
- Annual Valuation Reports Prepared: 500+
- Private Companies: 2800+
- Listed Companies: 100+
- Employee Equity Under Management: US $15bn+
- Equity Under Management: US $67bn+
- Equity Plans Designed: 1000+
- Valuation Reports per Year: 500+
Resources
Supporting Resources
Detailed Comparison
Cap Table Management
Integration and Scalability
Audit and Compliance Support
DiligentCompany Information
Description
Diligent centralizes governance, risk and compliance in one AI platform, eliminates manual work, and delivers insights that drive board-level decisions.
What They Do
Diligent provides a comprehensive AI platform for Governance, Risk, and Compliance management.
Who They Serve
They serve boards, executive teams, and organizations of all sizes seeking efficient governance, risk, and compliance solutions.
Key Value Propositions
Target Customers
Industries Served
Contact Information
Summary
Diligent Boards provides governance and equity compensation tools for pre-IPO companies, including testing compensation plans against proxy advisor criteria and executive benchmarking. It consolidates board materials, compliance, and financial controls for IPO readiness. Features AI-powered board preparation and risk scanning for cap table and equity management.
Key Features
- AI-powered agenda and board book creation
- Smart Risk Scanner for identifying risky language and legal red flags
- Smart Book Summary for clear, actionable insights
- Smart Prep Insights with organized questions and citations
- Smart Minutes for automated, accurate meeting minutes
- Smart News for real-time market and peer news
- Action tracker to turn notes and minutes into trackable items
- Secure board messaging and real-time chat
- Live streaming of meetings within the platform
- Board-ready, AI-driven reports on governance, risk, and compliance
- Seamless integrations with Microsoft 365, Google Docs, DocuSign, NetSuite, and S&P Global Market Intelligence
- Secure voting with e-signature and audit logs
- Board training resources and educational tools
- Proxy and shareholder insights
- Executive compensation benchmarking
Key Benefits
- Automates meeting preparation and board book creation
- Reduces manual work and meeting prep time by up to 80%
- Centralizes all board activities and documents in one secure platform
- Enhances security with role-based permissions, encryption, and audit trails
- Improves compliance with automated workflows and reminders
- Empowers directors with AI-summarized materials and actionable insights
- Facilitates secure real-time communication and document sharing
Who Is It For
- Boards of directors
- Corporate secretaries
- Governance teams
- Directors and executives
- Organizations seeking secure, efficient board management
Use Cases
- Board meeting preparation and execution
- Document management and secure sharing
- Compliance tracking and reporting
- Director and executive collaboration
- Action item tracking and follow-up
- Board education and training
Smarter governance with AI-powered board management software
Diligent Boards puts AI-powered governance at your fingertips — automating meeting prep, locking down sensitive data and helping your board see the full picture faster. Save time, reduce risk and empower your whole governance team to lead with clarity.
Governance intelligence that makes every meeting more productive
Diligent’s AI board management software takes the manual work out of board governance — so directors stay focused, leadership stays aligned and nothing slips through the cracks. From meeting prep to decision-making, everything is faster, clearer and more secure.
- AI does all the heavy lifting: build agendas, compile board books, and generate minutes quickly.
- Directors receive clear, AI-summarized materials and key talking points.
- Role-based permissions, encryption, and audit trails for secure sharing.
- Automated reminders and built-in workflows for compliance and process management.
The smartest board prep you’ll never have to do
Save days of meeting prep with the only AI-powered board portal to automate the full meeting lifecycle — from book creation to decision making.
- 1800hrs saved compiling and distributing board materials.
- 80% reduction in meeting prep time.
- $187K ROI after three years.
Everything your board needs — and nothing it doesn’t
Upload your source materials. Get a complete first draft of the board book, scan for any risky language, and get key takeaways in a matter of seconds. Share sensitive board documents securely. Stay compliant, minus the chasing.
- Smart Builder: Create a polished board book draft in seconds.
- Smart Risk Scanner: Instantly identify risky language and legal red flags.
- Smart Book Summary: Clear, distilled, actionable insights.
- Smart Prep Insights: Organized questions, backed by citations.
- Smart Minutes: Automated, accurate meeting minutes.
- Smart News: Real-time market and peer news.
- Action tracker: Trackable action items from notes and minutes.
- Board messaging: Secure real-time chat.
- Live streaming: Stream meetings inside the platform.
- Board-ready reports: AI-driven insights on governance, risk, and compliance.
- Seamless integrations: Microsoft 365, Google Docs, DocuSign, NetSuite, S&P Global Market Intelligence.
- Fast approvals: Secure voting with e-signature and audit logs.
- Board training: Educational courses and tools.
- Proxy & shareholder insights: Track governance health and sentiment.
- Executive compensation benchmarking: Compare exec pay and board structure.
Where 75% of the Fortune 500 manage their boardroom
Diligent Boards is trusted by 25,000+ customers, 700,000+ directors and executives, and is used in 130 countries.
- 25,000+ customers
- 700,000+ directors & executives
- 130 countries
Frequently Asked Questions
Board management software is a digital tool designed to help boards of directors manage their responsibilities efficiently. It centralizes board-related activities, including organizing meetings, storing and sharing documents and tracking tasks into one secure platform.
Your Data Matters
Transparency and privacy are prioritized. Users have control over their preferences and the extent of information shared. Privacy Policy, Terms of Use, Cookie Policy, and Trust Center are available for more information.
- Role-based permissions
- Encryption
- Audit trails
- Privacy controls
Resources
Supporting Resources
Detailed Comparison
Cap Table Management
Integration and Scalability
Audit and Compliance Support
RavioCompany Information
Description
Ravio offers real-time total reward benchmarking data, designed to simplify compensation management for businesses. Their platform provides insights into compensation trends, pay equity, and total rewards management.
What They Do
Ravio provides real-time benchmarking data and tools for compensation management, enabling organizations to make informed decisions about total rewards and pay equity.
Who They Serve
Ravio serves HR professionals, total rewards teams, senior leadership, and businesses looking to manage their compensation strategies effectively.
Key Value Propositions
Target Customers
Industries Served
Contact Information
Summary
Ravio offers real-time compensation benchmarking and equity management for startups, combining salary surveys with equity data for options and RSUs. It helps pre-IPO tech companies manage cap table complexity through data-driven pay decisions. Focused on USA startups needing accurate equity administration.
Key Features
- Comprehensive real-time total reward data set
- Filtering by funding stage, industry, location, and other market filters
- Expert verification of all data
- Integration with HR systems for automated data import
- Job levelling framework mapping with expert guidance
- Benchmarking across base salary, equity, variable pay, and 60+ benefits
- Automated tools for compensation analysis and workflow simplification
- Department, manager, location, and gender-based filtering
- Live market trends and hiring/attrition rate insights
- Direct sharing of benchmarks with employees and managers
Key Benefits
- Access to real-time, expert-verified compensation data
- Filter benchmarks by funding stage, industry, location, and more
- Automated mapping of employee data to job levelling frameworks
- Identify underpaid employees and attrition risks
- Empower managers and leaders with live compensation insights
- Boost retention and motivate employees with competitive compensation
- Win trust with candidates and employees by sharing live benchmarks
Who Is It For
- Total Rewards teams
- People & HR teams
- Senior Leadership
- Tech companies
- Organizations seeking to modernize compensation practices
Your source of truth for total reward benchmarking
Stay on the pulse of today’s compensation market with real-time benchmarking across base salary, equity, variable pay, and benefits.
Find the benchmarks you need
Explore the most comprehensive real-time total reward data set. Ensure relevance by filtering by funding stage, industry and more. All Ravio data passes verification by our in-house benchmarking experts and data science team.
Fast, flexible levelling for continuous market comparison
Safely connect your HR system and get expert guidance from Ravio’s team in mapping employees to our job levelling framework – saving time and maximising accuracy.
Find accurate answers for any total reward question
- Base salary: Target percentiles, salary trends, levels, positions, locations, market filters
- Equity: New hire grant benchmarks, equity philosophies, taxation guides per country, vesting schedules, employee upside calculator
- Variable: On-target earnings (OTE), percentage of base salary, total cash
- Benefits: Insights into 60+ benefits including paid holiday, health insurance, wellness, family leave, pensions
Harness market trends to grow your business sustainably
Stay ahead of the market with the only place for accessing live market trends and comparing your average salary increases to relevant industry peers. Identify the roles that are in demand with a real-time view of hiring and attrition rates.
Modernise your compensation practices with automated tooling
Connect real-time data to intuitive tools that simplify complex compensation workflows.
- Benchmark your entire organisation: See how each employee’s total reward package compares to the market and their band placement. Filter employees by department, manager, location, gender and more.
- Strengthen your business and make fair pay possible: Identify underpaid employees and attrition risk by comparing each employee directly to their market target. Identify issues across departments by easily analysing the health of your company.
- Help everyone understand compensation: Win trust with candidates and employees by sharing live total compensation benchmarks directly with them. Empower managers and senior leaders by inviting them to Ravio so they can feel confident in the data, too.
Trusted by these tech success stories
Multiple tech companies use Ravio for benchmarking, salary bands, and compensation review cycles.
- Updated internal salary ranges using Ravio data
- Reducing risk in benchmarking data
- Scaling compensation frameworks across multiple countries
- Easily understanding and analysing compensation decisions
- Relying on Ravio for benefits benchmarking
- Performing compensation review cycles
- Switching to Ravio for reliable real-time data
- Giving confident salary recommendations backed by real-time data
- Analysing and improving salary bands
- Creating and launching salary bands from scratch
- Revamping salary bands to save time and move away from manual spreadsheets
Level up your compensation confidence in minutes, not months
Get started with a free trial. By signing up, you agree to our Terms of Use and Privacy Policy.
Resources
Supporting Resources
Detailed Comparison
Cap Table Management
Integration and Scalability
Audit and Compliance Support
Our Ranking Methodology
How we rank these offerings
We ranked these equity compensation administration platforms for pre-IPO tech startups managing options, RSUs, and cap table complexity in USA based on three key factors: Cap Table Management (45% weight), Audit and Compliance Support (35% weight), and Integration and Scalability (20% weight). 'Equity Management' scored highest due to its comprehensive tools and capabilities in cap table management and strong integrations, making it highly suitable for compliance and scalability needs. 'Equity Management Platform' also did well with its real-time updates and audit features. 'Board Management' provided good governance and compliance tools but was less focused on equity-specific integrations. 'Compensation Benchmarking', while strong in compensation benchmarking, was less equipped for direct cap table management as it relied more on integrations.
Ranking Criteria Weights:
Frequently Asked Questions
- What are the typical cost structures for equity compensation administration platforms for pre-IPO tech startups?
- Equity compensation platforms often use a subscription-based pricing model, which can vary based on the size of the company and the complexity of its cap table. Carta, for example, offers tiered pricing depending on the number of stakeholders and securities managed, while Qapita uses a similar approach with additional fees for advanced features like detailed equity modeling. Platform costs generally increase as the company scales, reflecting heightened compliance and reporting needs.
- What are the key selection criteria for choosing an equity management platform?
- Key criteria include platform comprehensiveness in managing options, RSUs, and cap tables, as well as audit readiness and IPO preparation capabilities. Carta excels by offering a holistic suite that integrates well with existing systems, while Qapita provides a focus on ESOPs and RSUs with workflows for corporate governance. Diligent Boards adds value with compliance and risk scanning functionalities, critical for ensuring adherence to regulatory standards.
- How do industry standards and compliance impact the use of these platforms?
- Compliance with IRS regulations on equity compensation, like 409A valuations, is paramount for pre-IPO companies. Carta offers robust tools for generating audit-ready 409A valuations, ensuring adherence to legal standards, while Ravio enhances compliance by providing real-time compensation benchmarking that informs equitable pay practices. These platforms incorporate compliance by updating features in line with legal changes and integrating automated reporting tools.
- What are the typical implementation challenges for these platforms, and how can they be addressed?
- Challenges include data migration from disparate systems and aligning with existing processes. Effective solutions involve engaging with the platform's customer success teams for tailored onboarding. Carta and Qapita both provide dedicated support to facilitate smooth transitions, while Diligent Boards leverages AI to ensure integration with board management practices. These approaches minimize disruption and optimize platform utilization.
- How do these platforms deliver ROI and value to pre-IPO tech startups?
- These platforms deliver ROI through enhanced efficiency in managing complex equity structures, enabling companies to focus resources on growth. For example, Carta's integration capabilities streamline administrative tasks, reducing human error and related costs. Additionally, leveraging tools like Ravio's compensation benchmarking empowers startups to make informed pay decisions, improving talent retention and ultimately supporting successful IPO outcomes.
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