Carta, a tech startup that makes it easier for investors to claim a piece of a private company without the legal and regulatory hassles, is a much wealthier company today after its latest funding round.
The company raised $300 million in Series E funding, lead by Andreessen Horowitz, with participation from Lightspeed Venture Partners,Goldman Sachs Principle Strategic Investments, Tribe Capital, Menlo Ventures and Meritech.. New investors in this round are Tiger Global Management and Thrive Capital.
The $300 million brings a post-money valuation of $1.7 billion, making it the 4th most valuable US based startup in our exclusive UnicornWatch rankings and the 21st unicorn overall so far this year.
“VCs come to Carta for full-service fund administration, a real-time platform for portfolio management, and a simple, secure way to share information with their limited partners, ” said the Carta blog announcing the funding. “This expands the ownership network by extending our reach to LPs, more VCs, and more companies.”
Carta says it will use the funding to enable liquidity across its network. “Private markets are so illiquid that founders and employees often wait a decade for an IPO to earn money from their equity, ” Carta points out. “We think it’s time for this to change.”
Carta was launched in 2012. Since that time, it has added 11 thousand corporate clients and 700 thousand shareholders.