4G Clinical, a randomized clinical trial support platform founded in 2015, managed its equity in spreadsheets for its first four years, but by 2019, rapid growth triggered demand for Carta’s more robust cap table and efficient 409A valuations.
When the company, headquartered in Wellesley, Massachusetts, brought in a $230 million investment in 2021, chief financial officer Anne Hinkle was glad to have Carta to help track and manage recapitalization.
Post-investment, Hinkle and her team use Carta to help manage 4G Clinical’s financial position and collaborate with investors.
Recapitalization was straightforward on Carta
4G Clinical received the investment to fund the company’s global expansion and support the growing demand for 4G Clinical’s products. Investors saw promise in its multiplying revenue and category dominance and collaborated closely with Hinkle and 4G Clinical’s in-house and external counsel to recapitalize.
Carta smoothed the way with easy onboarding, straightforward access to information, and clear reporting tools.
“Carta is a well-known industry standard. It makes it easier to work with an engaged, high-visibility capital partner because their team is already familiar with it,” says Hinkle.
She and her team connected investors with 4G Clinical’s external counsel on the platform, too. Attorneys helped to create 4G Clinical’s new business entity by reviewing data and transitioning accounts to finalize the transaction.
Carta’s 409A process is ‘better’ than 4G Clinical’s prior provider
Structured data also improves the 409A valuation process for 4G Clinical. Hinkle managed the process at 4G Clinical before the company switched to Carta and she believes Carta delivers better service than the company’s former provider.
“The 409A process has been very good,” says Hinkle. “It's nice that it's included in a cost-effective price and it's easy to get through the process. We submit all documents online and meet for a walkthrough. It's usually only a couple of weeks to get a report. It's very smooth and easy, like everything on Carta.”
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