Solution

A cap table built for companies that are still changing fast.

A startup cap table has to survive instruments that a spreadsheet handles badly: SAFEs with caps and discounts, convertible notes with interest, option grants with cliffs, and a pool that is resized at every round. Perseids models each of those as first-class securities so your fully diluted position stays correct between rounds.

The stages where cap tables break

• First external money: SAFEs are signed faster than they are recorded.
• First hires with equity: grants exist in offer letters before they exist in a register.
• Bridge financing: notes accrue interest and nobody re-runs the conversion maths.
• Priced round: the investor's model and the founder's spreadsheet disagree, and diligence stalls.

What Perseids gives a startup

1. 1One ledger for shares, options, warrants, SAFEs and notes — with the terms attached, not just the amount.
2. 2A fully diluted view that includes the unissued pool, so you see the number investors will use.
3. 3Scenario modelling for the next round before you negotiate it.
4. 4A data room you can open for diligence, sourced from the same records.
5. 5An employee view so option holders can see their own grant and vesting without you exporting anything.

Getting started without a clean starting point

Most startups arrive with a partially correct spreadsheet. Perseids import is staged: upload, map, review inferred securities, resolve flagged inconsistencies, then confirm. Nothing enters the ledger until you accept it.