Crafting Smarter 409A Valuations

Streamlining Carta’s 409A valuation process with dynamic forms and contextual guidance to improve efficiency, reduce support volume, and enhance the user experience.

  • My Role

    As the lead Product Designer, I led the initiative to understand our users' challenges and transform their experience.

  • Key Skills

    Strategic UX Research, Process Optimization, Workshop Facilitation, Information Architecture, Cross-Functional Leadership, UX/UI Design

  • Team

    Collaborated closely with Product, Engineering, and Business teams

  • Timeline

    2021-2022

Background

Carta is widely recognized for helping private companies manage equity ownership, but its core revenue driver is the 409A valuation product, which processes over $34 billion in valuations annually for more than 28,000 companies.

The Challenge

Inefficient, One-Size-Fits-All

Companies of all sizes rely on Carta’s 409A valuation product, but its lengthy, standardized process failed to adapt to their needs. The 75-page form caused unnecessary friction, leading to increased support demand (1.6 tickets per customer) and prolonged delivery times (48 hours), straining internal teams and slowing turnaround.

Technical Constraints

The stakes were high. We were working with legacy systems that powered critical workflows. Any changes needed to maintain strict compliance requirements while working within technical limitations. We needed a solution that would reduce friction without disrupting the underlying valuation process.

Research

Understanding the User Journey

Through stakeholder workshops and user interviews, we uncovered that different company stages had vastly different needs. Support tickets revealed common pain points: unclear status updates, missing information, and excessive form fields. We mapped user journeys and created personas to understand how we could better serve each segment.

The Impact

Adaptable Dashboard

A smarter dashboard that adapted to each user's context, providing clear status updates and relevant guidance. This self-service approach cut support tickets by 50%.

Form Segmentation

An intelligent form that adjusted to company stage and needs, reducing the experience from 75 to 10 pages for qualifying companies. This streamlined approach decreased delivery time from 48 to 18 hours.

Reflection

This project was a powerful reminder of the impact of designing for flexibility within complex systems. By moving away from a rigid, one-size-fits-all process, we not only improved the user experience but also eased internal operational strain. The biggest challenge was balancing automation with compliance, requiring close collaboration across teams to ensure every change met regulatory standards.

While I’m no longer on the team, I’m excited to see how future iterations, including AI-driven automation and deeper segmentation, continue to refine the process and expand its impact.