Startup Funding Calculators¶

Model your funding decisions before you sign - interactive tools to understand the real impact of term sheet terms.

Funding terms that look reasonable on paper can have dramatic consequences over multiple rounds. These calculators help you model scenarios, compare options, and negotiate from a position of knowledge.

Available Calculators¶

Cap Table & Dilution Calculator¶

Coming Soon

Model your ownership through multiple funding rounds:

• Input: Current cap table, new investment terms, option pool
• Output: Post-money ownership, founder dilution, investor stakes
• Scenarios: Compare different valuations and round sizes

Key Questions It Answers:

• How much will I own after this round?
• What's the real impact of that option pool increase?
• How does pre-money vs. post-money option pool affect me?

View Methodology

Liquidation Waterfall Calculator¶

Coming Soon

Understand who gets paid what in exit scenarios:

• Input: Cap table, liquidation preferences, exit value
• Output: Distribution waterfall, founder proceeds, investor returns
• Scenarios: Model exits from $0 to your target valuation

Key Questions It Answers:

• At what exit value do founders start making money?
• How do participating vs. non-participating preferences affect payouts?
• What's the break-even point for investor conversion?

View Methodology

Anti-Dilution Calculator¶

Coming Soon

Model down round protection mechanisms:

• Input: Original investment terms, down round terms, anti-dilution type
• Output: Adjusted conversion price, additional shares, new ownership
• Comparison: Weighted average vs. full ratchet impact

Key Questions It Answers:

• How much more dilution will founders face in a down round?
• What's the difference between broad-based and narrow-based weighted average?
• Why is full ratchet so dangerous?

View Methodology

SAFE/Convertible Note Conversion Calculator¶

Coming Soon

Model how SAFEs and notes convert to equity:

• Input: Note/SAFE terms (cap, discount, interest), Series A terms
• Output: Conversion price, shares issued, effective valuation
• Scenarios: Compare cap-only, discount-only, and combination terms

Key Questions It Answers:

• Which converts better - the cap or the discount?
• How does accrued interest affect conversion?
• What's my actual valuation considering all notes outstanding?

View Methodology

ESOP Grant Calculator¶

Coming Soon

Model equity compensation for employees:

• Input: Grant size, vesting schedule, exercise price, expected exit
• Output: Vesting timeline, tax implications, potential value
• Scenarios: Different exit valuations and timing

Key Questions It Answers:

• What are these options actually worth?
• How does the exercise price affect employee value?
• What's the tax impact of early exercise?

View Methodology

Valuation Calculator¶

Coming Soon

Multiple valuation methodologies for different stages:

• VC Method: Work backward from expected exit
• Scorecard Method: Compare to similar funded startups
• DCF Model: Discounted cash flow for later stages
• Comparables: Revenue and EBITDA multiples

Key Questions It Answers:

• What valuation can I realistically justify?
• How do different methods compare for my stage?
• What assumptions drive my valuation?

View Methodology

Calculator Methodology¶

Each calculator is built on transparent, documented methodologies:

All formulas and calculation logic are documented in Appendix C so you can:

• Build your own spreadsheets
• Verify calculations independently
• Understand the underlying math

View All Calculator Methodologies

Why These Calculators Matter¶

The Information Asymmetry Problem¶

Investors model every deal extensively before making offers. They know exactly how different terms affect outcomes across hundreds of scenarios. Most founders sign term sheets without running similar analysis.

Real Impact Examples¶

Scenario 1: Option Pool Shuffle

A $10M pre-money valuation with a 15% option pool increase sounds good - until you realize the pool comes from existing shareholders. Effective pre-money for founders: ~$8.5M.

Scenario 2: Participating Preferred

Your $50M exit looks great until you calculate the waterfall. With 2x participating preferred on a $10M investment, investors get $20M + their pro-rata share. Founders might receive significantly less than expected.

Scenario 3: Down Round Anti-Dilution

A 50% down round seems painful. With weighted average anti-dilution, it's manageable. With full ratchet, investor ownership could nearly double at founder expense.

Coming Soon: Interactive Tools¶

We're building interactive web-based calculators that will allow you to:

• Model scenarios in real-time - Adjust inputs and see immediate results
• Compare multiple scenarios - Side-by-side term sheet comparison
• Export results - PDF reports for advisor discussions
• Save your models - Return to previous calculations

Want early access? Contact us to be notified when interactive calculators launch.

Build Your Own¶

Until interactive calculators are available, you can build your own using our documented methodologies:

Spreadsheet Templates¶

1. Review Appendix C for formulas
2. Copy the Excel formulas into your spreadsheet
3. Customize for your specific situation
4. Validate against worked examples in the appendix

Key Formulas Reference¶

Basic Dilution:

New Ownership % = Original Shares / (Original Shares + New Shares Issued)

Weighted Average Anti-Dilution (Broad-Based):

Adjusted Price = Original Price * (A + B) / (A + C)
Where:
A = Shares outstanding before down round
B = Shares that would be issued at original price
C = Shares actually issued at down round price

Liquidation Preference (Non-Participating):

Investor Payout = MAX(Preference Amount, Pro-Rata Share of Exit)

Complete formulas in Appendix C

Related Resources¶

• Calculator Methodologies (Appendix C) - Full documentation
• Cap Table Templates - Spreadsheet templates
• Term Sheet Analysis (Chapter 7) - Understanding terms
• Glossary - Term definitions

Disclaimer¶

These calculators are provided for educational purposes only. They are tools to help you understand funding mechanics, not financial advice.

Before making funding decisions:

• Verify calculations with qualified financial advisors
• Consult legal counsel on term sheet implications
• Use multiple models and stress-test assumptions
• Remember that every situation is unique

The methodologies document common approaches but may not capture all nuances of your specific deal structure.