Run a software company that has already raised money? Here is how the share register stops being a liability.
If you have revenue, contracts and a share register that has survived three rounds and two SAFEs, every investor, lender and acquirer asks for the same forty documents, and somebody rebuilds them every time. This page is what we do about that.
$305M+ in assets structured and supported · 100+ companies · 20+ countries · founded 2018
For founders and finance leads of private technology companies
What changes for you.
Not a demonstration of what we can do. Four things you can do with a technology company once the record, the raise and the token are in place.
Reconcile the cap table to the paper, once
The spreadsheet, the articles and every SAFE agree, or the record says exactly where they do not.
Let employees sell some shares, properly
A defined window, buyers who are checked, and a share register that updates when the money actually arrives.
Make the register the cap table
The list of owners lives in the asset itself and is correct the moment a share moves, with the shareholder agreement enforced automatically.
Know where you stand in about eight minutes
Twenty-five questions, a score, and the list of what is missing. Free, and nobody calls you.
Your problems, and what we do about them
Three things that make this slow today, and what each one turns into.
Written in the owner’s words. If yours is not on the list, the readiness score will find it in about eight minutes, and nobody calls you.
The register has never been reconciled
The record lines up articles, register, option ledger and every note, and names the conflicts.
One cap table the law will believe.
Every raise is a data room from scratch
The record is built once; the next round, the lender and the acquirer read the same link.
A second diligence faster than the first.
Most rounds should not be tokenized
The score says so in about eight minutes, before anyone sells you anything.
An honest answer, and the record either way.
Intelligence · the record
Why you would use Intelligence for a technology company.
Because a company should know what it owns before anyone else does.
The share register reconciled to the paper behind it
The articles, the register, the option ledger, every SAFE and every note. The record shows where the spreadsheet and the documents disagree, and which of the two the law will believe.
Revenue straight from the system that produces it
Figures pulled from the accounting software rather than retyped into a slide. The number and the place it came from sit next to each other.
One record for every future ask
The next round, the lender, the auditor and an eventual buyer all open the same link. Your second diligence starts where the first one stopped.
An example, made up for this page. Say you are a fifty-person software company just after a priced round, meaning a round where the shares were given a formal value. You upload the articles, the register, three SAFEs, the option plan and the accounts. The record finds a SAFE that converted at a valuation cap nobody applied, and an option grant the board never approved. Both are cleaned up before the next investor opens the room. How Intelligence works
Raisable · the raise
Why you would raise with Raisable for a technology company.
An example, made up for this page. Say early employees want to sell a slice and a fund wants to buy it. Your lawyer picks the exemption, the package describes the company from the reconciled record, buyers verify who they are and sign on your own web address, and the register moves when the money does.
Documents drafted from your own record
The memorandum, the subscription agreement and the investor questionnaire are written from facts that are already reconciled, so your lawyer judges a near-final draft instead of writing the first one.
A proper way for employees and early holders to sell
A defined window, an exemption chosen by your lawyer, buyers whose eligibility is verified, and a register that updates as the money arrives. Not a spreadsheet and a bank transfer.
A flat fee for the window, never a percentage
A licensed broker-dealer runs any regulated sale. No success fee, no carry, no cut of the round at any layer of ours.
Compass · tokenization
Why tokenizing a technology company makes sense.
Because the register should be the cap table, not a copy of it.
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A list of owners that is right the moment a share moves
The register lives in the asset itself. Employees, angels and an institution can hold the same instrument under different limits, and the shareholder agreement is enforced by the contract rather than remembered by somebody.
What you get
A cap table that cannot drift from the documents.
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Approval to transfer becomes a check, not an email chain
Right of first refusal, lock-ups and board consent are conditions the asset itself runs. A transfer that would break one of them does not go through.
What you get
Transfers that check the rules before they settle.
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A path to secondary trading, on rails you do not depend on us for
Issued on an open standard, settled in USDC, a digital dollar. Whether a venue lists it is the venue’s decision, and the register does not depend on Stobox continuing to exist.
What you get
A path to secondary trading you do not depend on us for.
An example, made up for this page. Say two years on, a departing engineer sells vested shares to another holder. The contract checks the lock-up and the right of first refusal, the transfer settles, the register is already correct, and the next investor reads it without anybody reconciling anything. How Compass works
Side by side
The same four questions, before and after.
Nothing here needs the rest of the page. If the right column is not worth the work to you, the answer is no, and that is a fine answer.
The list of owners
A spreadsheet that drifts from the paperwork
The register itself, right on every transfer
Investor diligence
Rebuilt for each round
One record, read by every round
Employees selling shares
Rare, manual, lawyer-heavy
A defined window, inside the rules, on your address
Shareholder rules
In a document somebody has to remember
Checked by the contract on every transfer
Our clients
Named work, and the marks that go with it.
Software, hardware and telecom companies are the second largest group in the register. Three are below, and the other names follow.
Pylon
Egypt · Fundraising strategy
We structured a securities offering that paid for hardware at a Y Combinator-backed utility management company, without going back to venture capital for it.
What that means for you
Equipment can be financed against contracts rather than by selling more of the company.
Atlastek
Switzerland · Token structuring
We structured equity rounds across several related companies at once, in telecom and property, so the founders could raise more while keeping control.
What that means for you
A group of companies can raise as a group, without collapsing into one balance sheet.
Contracoin
Australia · Token structuring
We built the incentive design and the token economy behind a utility token that went on to trade on a major exchange.
What that means for you
How a token is used decides whether anyone wants to hold it after the raise.
Our clients in this sector
Every name here is published with the client’s agreement on our case studies. Deal sizes, terms and returns are not ours to publish and are not here. The rest of the client list is private, and we will introduce you to the ones closest to your situation when we speak.
In plain English
Six words this page uses, and what each one actually means.
You do not need any of this to talk to us. It is here because these words get used at you in meetings, and knowing them is worth more than nodding along.
Cap table
The list of everyone who owns a piece of the company, and how much. It is the asset itself in a private company, which is why it being wrong is expensive.
SAFE, and convertible note
Two ways of taking money now and deciding later how much of the company it bought. They are the most common reason a cap table and the paperwork disagree.
Option ledger
The record of shares promised to employees, on what terms and when they earn them. It sits outside the share register and is regularly forgotten in one of the two.
Secondary
A sale by an existing shareholder, usually an employee or an early investor, rather than the company issuing new shares. The company gets no money; the seller does.
Right of first refusal
A rule that says existing holders get the chance to buy before an outsider can. It is normally in a document somebody has to remember; written into the asset, it is enforced automatically.
Lock-up
A period during which a holder has agreed not to sell. Also usually a document, and also enforceable by the asset itself.
What you will be asked for
The documents, and who has to have issued them.
Every answer in the record carries its document and a proof tier from T0 to T5. A number you typed and a number from a registry both get in, and they are not stored as though they were equal.
Certificate of incorporation and articles
T5A registry
Share register and option ledger
T3Your books
Every SAFE, note and side letter
T4Signed by the other side
Reviewed or audited accounts
T5An auditor
Revenue from the accounting system
T3Your books
Where this usually stops: stage 05 · Issue. The existing cap table has to be reconciled with reality before it becomes chain state. The six stages are on the Compass page. T5 is issued by an authority, T4 is signed by the other side, T3 is your accounting system of record; anything asserted without a document sits at T0, and the score will say so.
When this is not for you
Three cases where the answer is no, in advance.
Said here so you can leave without a call. It is cheaper for both sides than discovering it in week six.
A company before revenue, where what you are really selling is a plan.
A register nobody has ever checked against the documents behind it.
A network token, a community allocation or a listing. We do none of the three.
Two ways in
Find out where a technology company stands.
Twenty-five questions across seven dimensions, about eight minutes, no email to see the result. Every weight behind the number is published.
Prefer email? info@stobox.io.
Or bring it to a call
Thirty minutes goes further when both sides know the jurisdiction and the gaps.
Book thirty minutesOr bring the asset itself – thirty minutes, and we will say if the answer is no.
Stobox Technologies Inc. Nothing on this page is an offer to sell or a solicitation to buy any security, and nothing here is legal, tax or investment advice. Stobox is not a broker-dealer and not a law firm; regulated activity runs through licensed firms and listing decisions rest solely with the venue. The examples on this page are illustrations, not clients. All figures are indicative and are confirmed in writing in your quote. See the privacy summary.