Solution

Cap table software for private companies

Cap table software records who owns what in a private company and keeps that record correct as shares, options, SAFEs and notes are issued, converted, transferred or cancelled. Perseids does that, then lets you act on the record: model a round, open a data room, run a secondary or structure a strategic deal without re-keying ownership anywhere.

Who it is for

• Founders who currently keep ownership in a spreadsheet and are approaching a priced round.
• CFOs and finance teams who need a defensible fully diluted position at any date.
• Legal and company-secretarial teams issuing certificates and maintaining registers.
• Companies with investors, employees and advisors who all need different levels of visibility.

The problem with spreadsheet cap tables

A spreadsheet stores a snapshot, not a history. Once a company has done a SAFE, an option grant with a cliff, a partial exercise and a transfer, the spreadsheet and the signed documents drift apart. The cost surfaces at the worst moment — during diligence, at conversion, or when an employee asks what their options are worth.

How Perseids approaches it

1. 1Every ownership change is a transaction in an append-only ledger, not an edited cell.
2. 2Fully diluted ownership is derived from the ledger, so a position can be reconstructed for any date.
3. 3Securities are modelled as what they are: ordinary shares, preferred classes, options, warrants, SAFEs and convertible notes.
4. 4Stakeholders can be grouped into pools so a 60-line cap table reads as eight lines when you need the summary view.
5. 5Ask Perseids answers ownership questions in plain language, and never writes to the ledger itself.

AI in Perseids explains and proposes. Authoritative ownership records are only changed by an authorised human action.

What you can do once the ledger is clean

• Model a priced round, a SAFE conversion or an option-pool increase and see the resulting dilution.
• Open a permissioned data room for diligence without exporting your cap table into email.
• Run a company-controlled secondary so shareholders get liquidity on your terms.
• Give investors a connected, current view of their holding instead of a quarterly PDF.