Funding big Constancy introduced immediately that it has acquired Shoobx, a venture-backed fintech startup, for an undisclosed quantity.

Jason Furtado and Stephan Richter based Boston-based Shoobx in 2013, in accordance with Crunchbase. The pair went on to lift a identified $10 million funding for the corporate with buyers resembling Austin-based Scout Ventures and Steve Papa. Atlas Ventures can be a backer, in accordance with the Wall Road Journal. All 40 of Shoobx’s workers will be part of Constancy.

Shoobx is a supplier of automated fairness administration operations and financing software program to personal corporations “in any respect development levels,” as much as and together with an preliminary public providing. Providers it affords embody serving to corporations ship provide letters, grant fairness to new workers, handle their cap tables and get a 409A valuation report, amongst different issues.

On its web site, Shoobx notes that it has been known as “Carta on steroids” as a result of its “capabilities rocket previous what Carta can present.” In the meantime, Carta Crunchbase information signifies that Carta has raised $1.1 billion thus far, together with a large $500 million spherical raised in August 2021, led by Silver Lake. At the moment, the corporate was valued round $7.4 billion, per the identical information supply. So whereas we don’t know the way a lot Shoobx was value on the time of this acquisition, it’s protected to say that its valuation is probably going lower than that of Carta’s based mostly on how a lot it has raised over time.

For its half, Constancy mentioned its buy of Shoobx is an indication of its dedication to the non-public market “and can assist to fulfill an growing demand Constancy sees from non-public corporations to assist them as they scale and develop.” The final time Constancy acquired one other firm was in 2015, when it acquired wealth planning software program firm eMoney Advisor, in accordance with an organization spokesperson.

Shoobx shall be folded into Constancy’s Inventory Plan Providers enterprise, which supplies fairness compensation plan recordkeeping and administration companies to just about 700 corporations with 2.5 million plan members, totaling over $250 billion in plan worth. Inventory Plan Providers is a part of Constancy’s Office Investing division, one of many nation’s main office advantages suppliers.

In accordance with Shoobx’s web site, the 2 corporations had been companions previous to this announcement.