Announcing the AI-native evolution of EquityList

Today, we're entering the agentic era of equity management for private and public companies. We've built an AI-native cap table and compliance operating system to fundamentally change how global companies run their equity. The system of record that's long stored your ownership ledger has now become intelligent.

The current reality of cap table software

The winning play in cap table software has been to own the system of record: a register where shares, grants, and valuations get logged and become the source of truth. Once a few years of ownership history accumulates, that record becomes sticky and hard to walk away from.

The record isn't going anywhere, and it shouldn't. But on its own, it only answers one question: what is stored. The questions that actually run a company sit one layer up. Can we make this grant? What does this round do to the founders? Those answers rarely live in the register alone — they depend on the shareholders' agreement, the ESOP policy, the board minutes, the last valuation. Connecting those dots is somebody's job today: a finance or legal team member pulls the documents, cross-checks the numbers, and only then can a decision get made.

An equity platform with a working memory of your policies

The core idea behind this release is that EquityList should read your governing documents — your ESOP scheme, your shareholders' agreement, your board resolutions — and use them, not just store them. Ask it a question and it answers from what's actually in your cap table and documents, not a best guess. Tell it the outcome you want, and it carries out the workflow itself, respecting the vesting and approval rules your scheme already defines. The point isn't to replace judgment — it's to make the judgment call the only thing left for a person to make.

Questions that used to mean exporting data into a spreadsheet — how much of each pool is unallocated across every entity, which grants vest next quarter, where a holder lands fully diluted after a proposed transfer — are answered straight from the live ledger. And because the platform reads your company articles and equity policies alongside the ledger, it triangulates the two — flagging where an action would breach a scheme rule or a charter limit before it's taken, not after.

Built to be accurate, not just conversational

The reason we can make this AI layer deterministic comes down to years spent building in this space — long enough to learn the nuances of equity administration at every scale. From a ten-person team's first option pool to a listed company running exercises across thousands of holders. That experience shaped the data models beneath the product: every instrument, term, and transaction represented precisely enough that ownership math has exactly one correct answer. So the AI doesn't infer – it computes against a structured record, with your policies enforced as hard guardrails, not suggestions. Same inputs, same result, every time — without hallucinating or mixing up data.

EquityList now works with 650+ companies managing equity for 80,000+ stakeholders across 16 countries and 5 continents, with more than $20B in securities on the platform. Much of that growth comes from companies moving off spreadsheets or other tools — and when they do, we can usually get their grants, vesting history, and prior records fully operational within a couple of days, without anyone rebuilding it by hand.

That scale is why this release matters — and why we built the intelligence layer on top of it rather than beside it. The record is still the foundation; the intelligence on top is where the work now happens.

This is the shift we believe every equity platform should make, and we intend to lead it. The new EquityList is live today. We'd rather show you how it handles your own cap table than describe it further — get started yourself here.