US-headquartered equity management Fintech Carta is reportedly announcing another round of layoffs.
As first reported by Fortune, three workers have stated that San Fransisco-headquartered Carta is currently going through a restructuring process for the third time in 2023.
The two other layoff announcements had been in January and July of this year.
A source told Fortune that the firm did not see this coming. They claim to have had a full calendar “booked with meetings.”
As covered, Carta assists startups, angel networks and funds with taking care of cap table management, compensation, valuations, portfolio investments and liquidity for around half a million workers in the United States of about 30,000 firms and 5000 funds including Tribe, Pipe, among others.
Carta had acquired the UK equity management platform Capdesk this past year for an undisclosed amount, soon after reaching a $8.5 billion valuation.
As reported, Assemble users can now view Carta Total Compensation benchmarking data and cap table information within the Assemble platform, making it easier to “build a startup compensation strategy.”
In the past, Assemble customers had “to log in to Carta separately to access Total Comp or their company’s cap table.”
With the new integration, you can “view equity compensation data immediately after uploading your cap table into Assemble, allowing you to create a compensation strategy without toggling between the two platforms.”
Reed McBride, Carta’s head of business development, said:
“We’re thrilled to welcome Assemble into the Carta Developer Platform to deliver a seamless integration that allows our shared customers to unlock the power of their equity data. Combining Carta Total Compensation—which features the industry’s leading real-time dataset for both cash and equity—with Assemble’s powerful workflows for scaled compensation planning cycles makes total sense,”
Having access to the most accurate and relevant compensation data “helps protect your startup from common compensation planning pitfalls, like asking your board for too much (or too little) equity, or underestimating your budget for headcount.”
