We ran the numbers on what a Series A startup pays for cap table software over 3 years. The answer: $10K–$30K more than they need to.
Here's how we got there.
The scenario
When we were designing DealCycl's pricing model, we modeled a typical startup trajectory — seed through post-Series A — against the per-stakeholder model that dominates the market.
A startup closes seed with 25 employees, 8 investor-side contacts, 5 advisors. By Series A (18 months later): 65 employees, 14 investor stakeholders, 8 advisors. Two years after that: 120 employees, 30+ total investor-side contacts.
Per-stakeholder pricing applies to all of them — employees, advisors, option holders, investor associates. Everyone on the cap table counts.
- Year 1: ~38 stakeholders
- Year 2: ~87 stakeholders
- Year 3: ~150+ stakeholders
At the rates we modeled from publicly available information on incumbent pricing, that trajectory runs $20K–$40K over three years. Before implementation fees. Before customer success tier add-ons that gate features that should be standard.
DealCycl pricing for that same trajectory: $1,999/year (Starter) in Years 1–2, then $4,999/year (Growth) in Year 3. Three-year total, with our price lock: $8,997.
The math wasn't close. Run the numbers yourself with our cost calculator →
The structural problem
But the more important issue isn't the dollars — it's the structural incentive underneath them.
Per-stakeholder pricing means your vendor profits from your headcount. Every new option holder, every investor associate added to the portal, is revenue for them. That shapes product decisions in ways you can't always see — until you need something that conflicts with their model.
Why we chose flat pricing
We tested multiple pricing structures before settling on stage-based flat fees.
Usage-based penalizes founders during fundraising — the highest-activity period is also the most expensive, exactly when they can least afford it. Feature-gating hides scenario modeling and waterfall analysis behind upgrade paywalls, right when a founder needs them for a board meeting.
Flat, stage-based pricing was the only model where our incentive to build a better product didn't conflict with our revenue structure.
That's also why we built in a 3-year price lock. As your cap table gets more complex — more stakeholders, more instruments, more scenarios — your pricing doesn't change.
Managing that complexity is our job. Charging you more for it would be the wrong incentive.
DealCycl Company pricing
- Free: $0 forever — 1 Full User, 25 Stakeholders
- Starter: $1,999/year — 3 Full Users, unlimited Stakeholders
- Growth: $4,999/year — 5 Full Users, unlimited Stakeholders
- Scale: $9,999/year — 10 Full Users, unlimited Stakeholders
Every paid tier includes unlimited Stakeholders. No per-stakeholder fees. 3-year price lock. One-click cancellation. See full pricing →
Do the math
We built a cost calculator so you can model your own stakeholder trajectory and see the 3-year total cost of ownership side by side. Adjust the numbers to match your company — the defaults reflect the seed-to-Series A scenario above.
Chris Caldwell is COO & Co-Founder of DealCycl. He co-founded and served as CEO of Lockpath, a GRC platform scaled to a PE-backed acquisition by NAVEX Global.