Canada-based VEERUM is an asset visualization software company that provides stakeholders with the tools and information they need to optimize asset outcomes. Expecting their business to grow, they decided to search for a new equity management platform that’d allow them to start fresh and help them keep accurate records.
Challenges
Prior to Carta, VEERUM was using a popular equity management platform that they considered inaccurate and that was limited in functionality. Their investors kept asking for a way to get access to information and tapping their CFO to provide reports. VEERUM also had no dedicated support with their previous provider and had to use the chat functionality to solve any issues that came up.
These issues weren’t sustainable, as VEERUM wanted to grow their business quickly. They needed to make sure they could properly manage equity through various funding rounds, provide access to their investors, and keep the future in mind as they scaled. With their previous platform too far gone with messy data, they were looking to start fresh with a new system to help keep them on track. “We needed to build for the future. We could have continued on the path we were continuing on before for a couple years, but made the switch to Carta for the future of the business.”
Why Carta
VEERUM chose Carta because of functionality-notably stock-based compensation reporting and an intuitive platform-that they were lacking prior. Carta also helped streamline their 409A process, removing the heavy lift from their team.
It also helped that their VCs were already using Carta and wanted VEERUM to make the switch so it’d be easier for them to access information. In the end, VEERUM’s legal team evaluated a few equity management systems and landed on Carta as the best option. “Our legal team researched Carta and regarded it as best-in-class.”
Overall, VEERUM is excited to keep their equity records in order, which will help support their plan for growing and scaling their business for the future.
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