Cap Table Modeling
Model different funding scenarios and see how SAFEs, convertible notes, and new equity rounds will affect your cap table, before anything is finalised.
Access the modeling tool
Go to Cap Table → Modeling from the main navigation.
Set up a modeling scenario
Review the Starting information section, this automatically pulls your current cap table data from Cake.
Click + Add round, name it and choose a round type:
Priced round: model a new equity financing round
SAFE or convertibles: model converting outstanding SAFEs or convertibles outside of a new priced round
Priced round incl SAFE/Con note: model how existing SAFEs and convertibles convert in your next priced round
Enter the round details:
Pre-money valuation
New equity investment: total or split by investor
Convert SAFE/Con Notes: Post-money or Pre-money (if applicable – eg. Priced round incl SAFE/Con Note)
Stock option plan top up: desired percentage pre or post-round
Repeat as necessary for further rounds.
SAFE/Con note Conversions Only
Review the table of SAFEs and Convertibles and identify the Conversion round from the dropdown menu to see the model include converted shares.
Click + Add note in the Notes table to include a SAFE or other convertible in the model that is otherwise not yet recorded or issued in Cake.
Analyze the results
Scroll down to see how the modeled round affects each shareholder and option holder, ownership percentages, dilution, and share counts update in real time.
Model multiple scenarios
Model multiple rounds ahead for extended forecasting
Save scenarios to return and adjust later
Download saved models as CSV to share offline