Independent 409A Valuations You Can Trust
Get audit‑ready, IRS‑defensible valuations delivered fast by experienced valuation experts.
#1 409A Valuation Service
409A valuations provider 2400+ business trust worldwide
Get audit-ready 409A valuations from top analysts who understand your cap table and growth stage. No black-box algorithms. No hidden costs. Just transparent, defensible reports signed by CFA with a real analyst to support your audits and board questions.
The #1 Equity Management platform on G2
We’re recognized as a Global Leader. Also, ranked the best in Customer Satisfaction for both Enterprise and Mid-Market. (See why on G2)
Qapita is the only platform to earn all four "best" badges: Best Usability, Best Relationship, Best Implementable, and Best Results. We’ve set the standards for equity management.
They talk about it better than we do
"Qapita was a valuable partner throughout our audit process. They demonstrated a strong understanding of the intricacies around our convertible instruments and employee equity plans, stayed aligned with our deadlines, and worked seamlessly with our auditors to help us navigate the process efficiently.
Simple product and Supportive team
I recently transitioned my company from Carta to Qapita, and the experience was outstanding. Qapita truly held my hand through every step. The team was highly responsiv"Simple product and Supportive team Qapita is an easy to use product, the team completed the onboarding with very little of my time spent on the actual setup. Their support team went above and beyond to answer all my questions on the 409A and some scenarios I wanted to run on the captable.
Qapita simplifies management of captables. I need to manage investors, employees and also run scenarios. Qapita simplifies all of this, while creating a simple view for each of the stakeholders."e, proactive, and incredibly patient. They truly held my hand through the entire process (discovery, onboarding, data migration, validation, and go-live) making something that initially felt overwhelming, smooth and stress-free.
Qapita simplifies management of captables. I need to manage investors, employees and also run scenarios. Qapita simplifies all of this, while creating a simple view for each of the stakeholders."e, proactive, and incredibly patient. They truly held my hand through the entire process (discovery, onboarding, data migration, validation, and go-live) making something that initially felt overwhelming, smooth and stress-free.
Having Qapita by our side during the audit made a real difference; they brought deep expertise in navigating the complexities of our financial instruments and equity programs, kept pace with our timelines, and worked hand-in-hand with our auditors to ensure the entire process was smooth and stress-free.”
Why you need 409A this year
IRS safe harbor
Without proper 409A, employees face 20% penalties + back taxes on "discounted" options.
Avoid costly audits
Signed, defensible valuations eliminate audit risk and investor questions.
Major event update
New funding round? Revenue milestone? Your old valuation is no longer defensible.
Employee Confidence
Clear FMV pricing shows employees theirequity is fairly valued.
Better Experience
Your journey with Qapita
Share your data, review the numbers, and sign off with confidence: We coordinate the entire 409A workflow, so nothing falls through the cracks.
Kick-off
Information request list
Prepare report
Valuation model and report workings
Report review
End-to-end support with auditor queries
Data review
Data review
and confirmation
and confirmation
Draft report
For client and auditor review and discussion
Signed report
Final report signed & issued
Report delivery
We adopt a partnership approach to ensure the report workings are delivered on time without compromising quality
Auditor review
We will support you with all queries from the auditor to ensure the valuation parameters, assumptions and methods are in line with accounting standards
How our valuation service works for you
Every company is different. Your valuation should reflect that.
- We assign an experienced analyst to understand your cap table, terms, and growth profile.
- Not a one-size-fits-all algorithm, we study your situation deeply.
- Applied methodology is tailored to your stage, funding history, and business model.
- Report structure and reasoning holds up under investor and auditor scrutiny.
Reviewed. Verified. Signed by experts.
- Clear audit trail. Every assumption, method, and input is rigorously vetted.
- Maintains transparent documentation your board and auditors can rely on.
- Not a generic PDF from software, it's verified by qualified professionals.
- Your dedicated analyst is available to explain methodology and defend numbers.
Valuations that make sense for your business.
- We assess your cap table, terms, and growth profile to pick the right approach.
- We apply the method that best suits your structure: OPM back solve, PWERM, or hybrid models.
- Pre-revenue? We use market benchmarks and transparent models that fit lean cap tables.
- We don't force-fit, we apply the method that makes sense for your business.
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We’re here to explain, not just deliver.
- 409A reports can be dense, we walk you through how FMV was determined.
- We explain what the valuation means for option grants and future rounds.
- Our analyst helps you answer board questions and guides you through auditor reviews.
- Support extends beyond delivery, you get a real partner, not just a PDF.
- You communicate with confidence knowing someone has your back.
No Platform Lock-In
Flexibility to suit your needs.
- Need just a standalone 409A? We offer that, no upsell required
- Want to bundle with cap table management or ASC 718 reporting? That works too
- Choose your own integration path based on your workflow
- We meet you where you are, whether it's one-time compliance or full platform
Presence
Helping you elevate your Equity Management
Signed reports yearly
500+
Client market cap
US $100B+
Countries served
30+
Auditors worked with
15+
Companies Served
2400+
Countries Covered
60+
Stakeholders on Platform
500,000+
Equity Plans Designed
1000+
Valuation Reports per Year
500+
Trusted by the World’s Most Innovative Teams
Get Transparent, Audit-Ready 409A Valuations
Ensure compliance and investor confidence with precise, audit-ready 409A reports.
FAQs
Frequently asked questions
Who performs a 409A Valuation?
A 409A valuation should be performed by a qualified, independent third‑party valuation provider, not by the company’s founders, employees, or investors. An independent appraiser helps you meet IRS “safe harbor” standards, which is critical for pricing stock options at fair market value and avoiding challenges during audits or due diligence.
At Qapita, 409A valuations are prepared and reviewed by experienced valuation specialists using recognized methods such as OPM backsolve and other ASC 820‑aligned models. Each report is documented with clear assumptions, cap‑table details, and financial analysis so it is IRS‑compliant, audit‑ready, and defensible in front of your board, investors, and auditors.
At Qapita, 409A valuations are prepared and reviewed by experienced valuation specialists using recognized methods such as OPM backsolve and other ASC 820‑aligned models. Each report is documented with clear assumptions, cap‑table details, and financial analysis so it is IRS‑compliant, audit‑ready, and defensible in front of your board, investors, and auditors.
Why do startups need a 409A Valuation?
Startups need a 409A valuation to establish the fair market value (FMV) of their common stock before granting stock options or other equity awards to employees and advisors. This helps ensure options are not treated as discounted compensation, which can otherwise create adverse tax consequences and penalties for recipients under U.S. tax rules.
A formal 409A valuation also supports regulatory compliance and “safe harbor” protection by showing that FMV was determined by an independent, qualified appraiser using accepted valuation methodologies, which becomes essential during audits, funding rounds, and exits when equity pricing is scrutinized. In practice, many founders rely on specialized providers for this work - Qapita, for example, delivers 409A valuation services for startups at every stage, from seed through late‑stage and pre‑IPO.
A formal 409A valuation also supports regulatory compliance and “safe harbor” protection by showing that FMV was determined by an independent, qualified appraiser using accepted valuation methodologies, which becomes essential during audits, funding rounds, and exits when equity pricing is scrutinized. In practice, many founders rely on specialized providers for this work - Qapita, for example, delivers 409A valuation services for startups at every stage, from seed through late‑stage and pre‑IPO.
When should a startup get a 409A Valuation?
A startup should obtain a 409A valuation before issuing stock options for the first time to any employees, advisors, or contractors who are subject to U.S. tax. After that, it’s required to refresh that valuation at least every 12 months. A new valuation is also needed sooner whenever a “material event” occurs - such as a funding round, major change in financial performance, secondary transaction, or acquisition offer, so option pricing stays compliant with IRS rules and aligned with current fair market value.
How often should I get a 409A Valuation?
A 409A valuation should be updated at least once every 12 months to maintain IRS “safe harbor” protection and keep your option pricing aligned with current fair market value. In practice, you should also get a fresh 409A sooner whenever a material event occurs - such as closing a new funding round, receiving an acquisition offer, executing a major secondary sale, or experiencing a significant change in your financial performance or business model - because these events can meaningfully change what your company is worth and make an older valuation hard to defend.
What happens if I don’t get a 409A Valuation?
Skipping 409A valuations can create real problems for both your team and the company. If the IRS later decides your stock options were granted below fair market value, employees may owe income tax on the “discount” right away, plus an additional 20% penalty and interest on top of their normal tax bill.
On top of that, not having a proper 409A on file can raise red flags in audits, funding rounds, secondary transactions, or an eventual exit, because investors, acquirers, and auditors all expect to see a consistent history of independent, compliant valuations underpinning your option grants.
On top of that, not having a proper 409A on file can raise red flags in audits, funding rounds, secondary transactions, or an eventual exit, because investors, acquirers, and auditors all expect to see a consistent history of independent, compliant valuations underpinning your option grants.
How long does a 409A Valuation take?
Most 409A valuations in the market take 1–2 weeks once all necessary documents are provided, but Qapita is built to move faster without cutting corners. With a clear information checklist, dedicated analyst, and streamlined workflows, many startups see a signed, audit‑ready 409A report from Qapita in about 7–10 business days, with expedited turnaround available when a board meeting, grant date, or funding round is coming up fast.
What makes Qapita’s 409A Valuation different?
Qapita's 409A valuations are expert‑led, not algorithm‑only, which means a real valuation specialist reviews your cap table, financials, and funding history to tailor the model and assumptions to your stage and structure. Beyond the report itself, Qapita offers seamless integration with cap table management software and equity workflows, so your 409A data flows directly into option grants, ASC 718 reporting, and stakeholder dashboards without manual re‑entry. You also get direct access to your analyst for auditor questions, board walk‑throughs, or just explaining the numbers to your team - support that many standalone 409A providers don't offer once the PDF is delivered.
