Fidelity and Shoobx team up on equity management solution for private companies

(originally published in The Financial Revolutionist)

July 21, 2021  The Financial Revolutionist

Fidelity Investments, one of the nation’s biggest stock plan administrators, is tapping the toolset of Shoobx – an equity management company – on an equity management solution for private companies of all stages. The objective of the offering is to support companies along their paths to go public.

Why should we care?

Capitalization table management is an ongoing pain point for businesses that fintech startups like Carta, Shoobx, and others have stepped in to help solve. These companies automate this process and track it for their clients. It’s a quickly growing space for financial startups. For example, last fall, Pulley, a Mountain View, California-based creator of cap table management software, raised $10M in a round led by Stripe. Shoobx’s tools will be rolled into Fidelity’s stock plans services offerings, and will include capitalization table management, fundraising due diligence and execution, board and stockholder approvals and HR onboarding tools. It also includes compensation administration and support, and integration with employee benefits such as 401(k)s, health savings accounts, and access to financial planning and brokerage capabilities for shareholders. Shoobx, an 8-year-old company based in Cambridge, Massachusetts, manages corporate legal activity for private companies from incorporation to exit. “The Fidelity/Shoobx offering fills a critical gap for entrepreneurs by providing a flexible solution that grows with the company and eliminates the need to implement new platforms as a company expands,” said Mark Haggerty, head of stock plan services at Fidelity.

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