Mantle
AI cap table platform
Run your startup cap table free, with AI doing the paperwork
Reviewed by The Desk · Last verified July 2026
“Mantle is the rare cap table tool that gives early-stage founders unlimited stakeholders for free, then charges a flat annual fee instead of taxing you per head like Carta — and its AI document extraction makes migrating messy equity records genuinely painless. It is younger and less feature-deep than incumbents, but for seed-stage teams the price-to-value math is hard to argue with.”
Skip it ifSkip it if you are a later-stage company that needs deep fund administration or LP reporting at scale, a wide integration ecosystem, or the auditor familiarity and track record of an established incumbent like Carta — Mantle is a 2022 startup still proving itself at scale.
What it is
Mantle is a cap table and equity management platform aimed at startup founders, built by Toronto-based Ten Key Labs. Its core product, Mantle Equity, handles the standard back-office equity stack — recording securities, issuing and e-signing SAFEs, tracking vesting, modeling dilution, running 409A valuations, and generating cap table exports — while a second product, Mantle Portal, targets private-fund data aggregation and LP reporting.\n\nIts two differentiators are pricing and AI. Rather than charging per stakeholder like Carta and Pulley, Mantle offers a free Starter tier with unlimited stakeholders and moves paid customers to flat annual fees ($1,200 Essentials, $3,000 Growth). On the AI side, it markets 'agentic' document extraction that reads dense corporate documents and structures them into usable data, which it leans on to make migration from incumbents fast and to cut down manual entry.\n\nMantle fits seed- and early-stage startups that want to escape headcount-based pricing and do not yet need the ecosystem depth of an incumbent. It is well-funded (roughly $12M raised) and credibly staffed, but young — the track record, integration breadth, and auditor familiarity of Carta are not there yet, so later-stage or fund-heavy operations may find it thin.
Key features
- Unlimited-stakeholder cap table with real-time ownership tracking
- AI document extraction for fast migration from Carta, Pulley, or spreadsheets
- Built-in SAFE issuance, e-signature, and custom templates
- Scenario and dilution modeling for fundraising rounds
- 409A valuations and QSBS attestation
- Board consents, in-platform option exercises, and ISO/NSO reporting
- Agentic AI workflows over structured equity data
Who it’s for
Manage a startup cap table with unlimited stakeholders
Issue and e-sign SAFEs, options, and other securities
Model dilution and fundraising round scenarios
Order an annual 409A valuation and QSBS attestation
Pros & cons
The good
- Free unlimited-stakeholder tier plus flat annual pricing undercuts headcount-based competitors
- AI extraction turns migration and document entry into a fast, low-effort process
- Covers the core founder equity stack: SAFEs, vesting, 409A, board actions, and option exercises
The catch
- Young company (founded 2022) with a shorter track record than Carta or Pulley
- Paid tiers layer on transaction and 409A fees, so the 'one flat fee' pitch has asterisks
- Feature depth and integrations are thinner than mature incumbents for complex, later-stage needs
Pricing
| Tier | Price | What you get |
|---|---|---|
| Starter | Free | Unlimited stakeholders · AI workflow tools · Record and track securities · SAFE signing + templates · Vesting schedules · Scenario modeling · Law firm integration · Cap table exports |
| Essentials ($1,200/yr, billed annually) | $1200/mo | Everything in Starter · White-glove onboarding · Issue & sign securities · Custom SAFE templates · Execute board actions · In-platform option exercising · ISO/NSO reporting |
| Growth ($3,000/yr, billed annually) | $3000/mo | Everything in Essentials · Annual 409A valuation · VIP customer support |
Free tier — Starter plan: $0/year with unlimited stakeholders, AI workflow tools, SAFE signing, vesting schedules, scenario modeling, law firm integration, and cap table exports
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Questions people ask
Is Mantle really free?
Yes. The Starter plan is $0/year and includes unlimited stakeholders, SAFE signing, vesting schedules, scenario modeling, and cap table exports. You only pay when you need features like white-glove onboarding, board actions, or a 409A valuation.
How much does Mantle cost after the free tier?
The Essentials plan is $1,200/year (about $100/month) and the Growth plan is $3,000/year, which adds an annual 409A valuation and VIP support. Certain transactions such as exercises, repurchases, and transfers carry an additional flat fee (around $1,800).
Who makes Mantle?
Mantle is built by Ten Key Labs, a Toronto-based startup founded in 2022 and led by serial entrepreneur Amar Varma. The company has raised roughly $12M, including a $10.5M seed round.
How does Mantle compare to Carta?
Mantle's core pitch is pricing — unlimited stakeholders for free and flat fees instead of Carta's headcount-based tiers — plus AI-powered migration. Carta remains more feature-complete and established for later-stage and fund-administration needs.