Every result includes an auditable, step-by-step breakdown, the defensibility your clients expect.
A clause is a sentence until it's a number
A term sheet is full of words that quietly decide who gets paid: a 2x senior liquidation preference, pari-passu ranking, a participation cap, a management carve-out above a threshold. Your client doesn't feel the impact until those words become dollars, and translating them by hand, in a spreadsheet, is slow and easy to get wrong.
You can't hand a client a number you can't show your work for. When you walk them through how a clause changes the outcome, you need the calculation to be traceable, defensible, and right: every preference, every conversion, every cent.
Clauses in, defensible numbers out
Model multiples or fixed-amount preferences, seniority, pari-passu, cumulative dividends, participation caps and carve-outs, then walk the client through a step-by-step breakdown that shows exactly how each clause changes the numbers. The output is the argument: a traceable distribution, tier by tier.
It is the dedicated exit-modeling layer, not a system of record, so you can turn a draft term sheet into client-ready numbers without spreadsheet surgery. The mechanics behind it: liquidation preference rights and how a management incentive plan is structured.
Built for the clauses you negotiate
Model the exact terms that decide the outcome:
Numbers you can show your work for
Defensible means traceable and correct. Every result includes a step-by-step breakdown with enforced invariants (total distributed equals the exit value, no negative payouts), so you can walk a client, a counterparty, or a board through exactly how a clause produces a figure.
The engine runs on decimal-precision math, is validated against an independent finance firm's model across 30 exit values, and is backed by 303 automated tests. When you hand over a number, you can hand over the reasoning behind it.
Client data, handled properly
Authentication is handled by Clerk, and every account's data is isolated with Supabase row-level security, so client data stays your client's. Billing runs through a Merchant of Record, which keeps global tax compliance off your plate.
The Free plan needs no credit card, and you can upgrade or cancel anytime. Your projects are always kept, even after a downgrade.
Questions Lawyers & advisors ask
Can I show clients the impact of a term-sheet clause?
Yes. Model multiples or fixed-amount preferences, seniority, pari-passu, cumulative dividends, participation caps and carve-outs, then walk the client through a step-by-step breakdown that shows exactly how each clause changes the numbers.
Are the numbers defensible?
Yes. The engine is built on decimal-precision math, validated against a finance firm's model across 30 exit values and 303 automated tests, and every result includes an auditable step-by-step breakdown with enforced invariants.
Does it handle convertible notes and SAFEs at exit?
Yes. SAFEs (pre- and post-money, caps and discounts) and convertible notes (simple, anniversary or daily-compounding interest, day-count conventions and maturity handling) convert correctly at exit.
Can I model a management carve-out?
Yes. Model a carve-out or MIP as a fixed amount or a percentage, with seniority, an optional threshold, and manual or pro-rata fully-diluted distribution, taken off the top or above a threshold before the waterfall.
Turn clauses into client-ready numbers
Translate any term sheet into a defensible, step-by-step distribution. Start free with no credit card, cancel anytime, and your projects are always kept.
No credit card · cancel anytime · your data is always kept.
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