Cap table simulator
Run a company from founding to the Series B. Set each round, and see who owns the company after each round, the founders' share, and their paper value.
Simulator
Dilution from founding to the Series B
Set the money, the valuation, and the pool for each round. Watch what the founders own and what it is worth.
As a part of the post-money fully diluted shares.
The seed pool holds 2,205,882 options. A grant cannot be bigger.
- Founders after B
- 26.94%
- All founders together
- Their paper value
- $40.41M
- at $4.0406 a share
- Last post-money
- $150M
- Series B
- Since the seed
- 3.71x
- Change in paper value
At founding
Founders 100%
After the pre-seed
Founders 80%
After the seed
Founders 54.4%
After the Series A
Founders 36.38%
After the Series B
Founders 26.94%
Move the pointer onto a part of a bar, or select it with the Tab key, to see its numbers.
- Founders
- Employees and pool
- SAFE holders
- Seed investors
- Series A investors
- Series B investors
The marks above and below a bar show the median founding team on Carta at that stage.
| Stage | Founders | Paper value | Price per share | Carta median |
|---|---|---|---|---|
| At founding | 100% | — | — | 100% |
| After the pre-seed | 80% | — | — | — |
| After the seed | 54.4% | $10.88M | $1.088 | About 56% |
| After the Series A | 36.38% | $27.29M | $2.7288 | About 36% |
| After the Series B | 26.94% | $40.41M | $4.0406 | 21.8% non-AI, 27.3% AI |
The founders go from 100% to 26.94%. Each round multiplies what they own: the seed (with the pre-seed SAFE that converts in it) by 0.54, the Series A by 0.67, and the Series B by 0.74. The multipliers include the SAFE conversions and the pool top-ups, not only the new money.
But each share is worth more after each round. The price increases from $1.088 at the seed to $4.0406 at the Series B. Thus the founders' paper value increases from $10.88M to $40.41M, even though they own a smaller part.