What Cake Equity does

Cake Equity (legally Bake That Cake Pty Ltd) is a fintech SaaS company that provides equity management software to US-based startups and growth-stage companies. Founded in 2019 in Queensland, Australia and now commercially headquartered in Venice, Los Angeles, the company offers a unified platform covering four core product modules: cap table management (with scenario modeling, founder vesting, warrants, and a full audit log); equity incentives (ISO/NSO stock options, RSUs/RSAs, equity benchmarking, and an employee-facing equity visibility app); capital raise (SAFEs, convertible notes, investor relations); and equity compliance (integrated 409A valuations, QSBS tracking, ASC 718 stock-based compensation reporting, 83(b) elections, and Form 3921). The platform is built around a US-equity-structure focus and is ISO 27001 certified.

The underlying technology architecture connects cap table data to adjacent compliance and capital-raise workflows, enabling automatic strike-price synchronization after 409A report finalization and auto-verification of QSBS eligibility from live cap table data. The company integrates with 409A appraisal firms (notably Allanytics), HR/payroll platforms (Deel, TriNet), and a referral network of 100+ venture capital firms, law firms (Wilson Sonsini, Cooley, Gunderson Dettmer, Taft Law), and accelerators (Techstars).

Cake's business model is subscription SaaS with a product-led growth motion: free self-serve signup, free migration from competitors (Carta, spreadsheets, or other providers), and a free migration service. A sales-assisted 'book-a-demo' motion targets mid-market and enterprise buyers. Pricing is not publicly disclosed but is positioned at an average 48% discount to Carta, with the Team plan bundling integrated 409A valuation into the subscription. The company targets startup founders, CFOs/finance teams, HR/people teams, law firms, and VC investors — a horizontal segmentation approach anchored on US seed-through-Series B+ startups, supplemented by a use-case wedge into VC fund equity administration (e.g., R3i Capital). As of disclosure, Cake reports 10,000+ customer companies across 79 countries and a 4.8/5 G2 rating with 130+ reviews.

Name

Cake Equity

Legal name

Bake That Cake Pty Ltd

Website

https://cakeequity.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Cake Equity is a SaaS equity management platform for US-based startups and growth-stage companies, offering integrated cap table management, equity incentives, capital raise tracking, and compliance tools including 409A valuations and QSBS tracking.

Ownership category

akta.pro rank

Product category

Equity Management Software

NAICS

Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121)

SIC

Finance Services (6199), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Equity Compensation & Global Share Plan Administration (BPACAHAI)

akta.pro secondary industry

ESOP & Equity Compensation Valuation (ESOP, options, warrants) (FSAEAHAN)

Keywords

• Equity management software
• Cap table management
• Equity compliance solutions
• Stock option administration
• Founder equity platform

Headquarters

HQ city

Venice

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. SaaS Subscription - Core Platform: Cake Equity operates as a subscription SaaS platform with tiered plans (Team, Growth/Pro). Pricing is significantly lower than competitors like Carta, with Carta switchers reporting average savings of 48%. The Team plan includes integrated 409A valuation as part of the subscription.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Cake Equity provides a cloud-based SaaS equity management platform for US startups, offering cap table management, equity incentive plans (stock options and RSUs), capital raise tracking for SAFEs and convertible notes, and integrated US equity compliance (409A valuations, QSBS eligibility, ASC 718 reporting, 83(b) elections, and Form 3921). The platform combines dynamic cap table visualization, scenario modeling, and 409A valuation services with audit-grade reporting for founders, finance teams, and legal advisors.

Product overview

Cake Equity is a unified equity management platform designed for US startups, offering an integrated suite of cap table management, equity incentives, capital raise, and compliance tools. The platform consists of core modules including Cap Table Management (for dynamic ownership tracking and scenario modeling), Equity Incentives (for granting ISO/NSO stock options and RSUs/RSAs), Capital Raise (for SAFEs, convertible notes, and investor relations), and Equity Compliance (for 409A valuations, QSBS tracking, ASC 718 reporting, 83(b) elections, and Form 3921). The platform is marketed as built for growing companies, from first hire through complex funding rounds, with a focus on US equity structures. Additional features include Employee App for team equity visibility, Founder Vesting for co-founder agreements, Warrants management, and Audit Log for compliance traceability.

Differentiator

Problem solved

Functional benefit

Products and services

• Cap Table Management
• Equity Incentives
• Capital Raise
• Equity Compliance
• 409A Valuation

Quantifiable outcome

• Carta switchers report average 48% cost savings with Cake Equity
• +6 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature6 records

Partnerships

Eleven partnerships are on record, tiered flagship, core and minor.

• Wilson Sonsini Goodrich & RosatiflagshipGTM or Marketing PartnerWilson Sonsini, a leading startup law firm, is listed among the partners and trusted advisors who recommend Cake Equity to their clients.
• Cooley LLPflagshipGTM or Marketing PartnerCooley LLP, a prominent technology and startup law firm, is listed as a partner recommending Cake Equity to clients managing cap tables and equity plans.
• Gunderson DettermerflagshipGTM or Marketing PartnerGunderson Dettermer, a leading VC and startup law firm, is listed as a partner recommending Cake Equity to its client base.
• TechstarscoreGTM or Marketing PartnerTechstars, the global startup accelerator, is listed among partners and accelerators recommending Cake Equity to portfolio companies.
• Partner BuchananminorGTM or Marketing PartnerPartner Buchanan, a legal/advisory firm, is listed among partners recommending Cake Equity to clients.
• Taft LawcoreGTM or Marketing PartnerTaft Law, a national law firm with startup practice, is a named partner. Attorney Matt Secrist at Taft Law is cited as endorsing Cake for guiding clients through cap tables and equity incentive plans.
• EscalonminorGTM or Marketing PartnerEscalon, a fractional CFO and advisory services firm, is listed as a partner recommending Cake Equity.
• TriNetminorGTM or Marketing PartnerTriNet, a professional employer organization (PEO), is listed as a partner potentially integrating HR and equity services.
• Burkland (Fractional CFO)minorImplementation/ SI/ Consulting PartnerBurkland, a fractional CFO and strategic finance provider serving 800+ venture-backed startups, is featured as a content partner on Cake's QSBS guide. Burkland helps startups ensure QSBS eligibility and thorough documentation.
• Stout Street CapitalminorGTM or Marketing PartnerStout Street Capital, a VC firm, is cited as recommending Cake to portfolio companies. Managing Partner Clay Gordon described Cake as 'easy to use, friendly team, supportive of portfolio companies.'
• AllanyticscoreTechnology or IntegrationAllanytics, founded by Steve Allan (former Silicon Valley Bank compliance valuations lead), provides 409A valuation services to Cake's customers. Allanytics has completed over 10,000 valuations and contributes expert content to Cake's 409A guides.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Carta: Carta is the dominant US equity management platform and Cake's primary named competitor. Both serve startups with cap table management, 409A valuations, ASC 718 reporting, and equity plan administration; Cake positions explicitly on price and ease of use vs. Carta.
• Computershare (Shareworks): Computershare operates the Shareworks equity management platform acquired from Morgan Stanley, providing cap table and equity administration primarily to public and pre-IPO companies — a broader incumbent with partial feature overlap with Cake.
• Fidelity Private Shares: Fidelity Private Shares offers cap table management and equity administration to private US companies, leveraging Fidelity's broader wealth management brand. Direct overlap with Cake in cap table and equity compliance but from a much larger incumbent.

Direct peers

• Pulley: Pulley is a direct cap table and equity management competitor to Cake, targeting the same US startup segment from seed through growth. Cake maintains dedicated comparison content (Cake vs. Pulley), indicating direct head-to-head competition.
• Eqvista: Eqvista provides cap table management, 409A valuations, and equity compliance for startups and small businesses in the US, directly overlapping Cake's core product suite including 409A integration and compliance tracking.
• AngelList (AngelList Stack): AngelList offers cap table management and equity administration as part of its startup stack, serving the same early-stage US founder customer base with bundled fundraising and equity tooling.
• Capdesk: Capdesk is a cap table and equity management platform serving startups and scaleups primarily in Europe, with comparable feature set to Cake including 409A-style valuations, employee equity tracking, and compliance support.
• Shoobx: Shoobx provides equity management, cap table, and equity plan administration for venture-backed startups in the US, with overlapping features around 409A coordination, board reporting, and compliance documentation.

Emerging players

• Ledgy: Ledgy is a European-headquartered equity management platform for startups and scaleups, with comparable cap table, employee equity participation, and compliance features. Geographic overlap with Cake in serving international founders but primary market is Europe.

Others

• Sharefile (Equity Administration): Sharefile and similar document-management-adjacent providers offer lighter-weight cap table or equity recordkeeping tooling; competes at the low end of the same founder workflow but lacks the integrated compliance and valuation depth of Cake.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/CakeEquity
• Facebookfacebook.com/CakeEquity
• LinkedInlinkedin.com/company/cake-equity
• Instagraminstagram.com/cakeequity

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds7 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cake Equity