San Francisco-based unicorn Carta, which offers a startup equity management platform, is close to raising a further $300m at a $1.8bn valuation a person familiar with the matter told The Information.
Founded in 2012, formally named eShares, and one of the Bay Area's several so-called 'unicorns', the company was founded by CEO Henry Ward to provide an electronic alternative to the paper securities that were previously given to investors and employees. It has gone on to add a number of other equity management products for private, venture-backed companies such as cloud software tools for managing complex ownership stakes.
Andreessen Horowitz is set to lead the round, with a contribution of $100m in funding, according to The Information, while Lightspeed Venture Partners and Goldman Sachs are also expected to be participating.
In late December 2018, Carta revealed that it had doubled its valuation to $800m following at $80m funding round shortly after the decision to move its headquarters from Palo Alto to San Francisco. As of late 2018, it had employed around 150 people in its new San Francisco office and has hired another 50 in Palo Alto.