How Does 409A Valuation Cost Vary by Startup Stage?

Early-stage companies with standard cap tables usually pay less than later-stage companies with complex structures. 409A.io is $99/month on a 12-month term for pre-seed through Series A. Typical firms charge $3,000 to $5,000 and take 2 to 4 weeks. Big Four firms often charge $8,000+ and take 4 to 8 weeks.

What drives the price?

Three things move cost more than the label on your round.

• Cap table complexity. Common, preferred, a standard option pool, SAFEs, and convertible notes are simpler to value than structured equity or complex waterfalls.
• Document readiness. Incomplete paper slows any provider. Cap table upload on 409A.io takes under 5 minutes, and CSV is supported.
• Scope of support. A one-off report is different from a year of updates, material-event coverage, and auditor questions.

Stage is a useful shorthand. Complexity is the real driver.

Pre-seed and seed

At pre-seed and seed, the goal is usually to set a fair market value before the first option grants. You need an audit-ready report, not a months-long engagement.

409A.io covers that stage at $99/month on a 12-month term, billed monthly, with everything included. You receive an audit-ready report within 48 hours of receiving your documents. Every report is reviewed by a valuation professional from the MELD team before delivery.

The method is an OPM backsolve to the most recent financing with a GPC cross-check, prepared in accordance with AICPA guidelines for privately-held equity issued as compensation. Same methodology used by firms charging $3,000 to $5,000.

Series A

Series A companies with standard structures still fit the self-serve path when the cap table stays straightforward. Updates upon request and material-event coverage during your term are included, so a new round mid-year does not mean shopping for a new provider.

Direct auditor support is included. If your auditor has questions, we answer them.

Later stages and complex caps

When your cap table gets complex — Series B+, structured equity, or complex waterfalls — graduate to MELD, or tell us your situation and we will point you the right way. 409A.io was spun out of MELD Valuation. MELD has completed 10,000+ valuations across 20+ industry sectors, valued $250B+ in assets, and has zero audit issues across its history. That is a track record, not a promise about any future audit.

We work with leading cap table providers and can help with preferred pricing through those relationships without locking you into a platform.

What you should not optimize for

Do not pick a provider only on sticker price. Compare turnaround after documents are complete, whether a human reviews the report, whether updates and auditor support are included, and whether the methodology matches what auditors expect for privately held equity issued as compensation.

A 409A supports safe harbor, which is a presumption that the valuation is reasonable, not a guarantee. This is not legal, tax, or accounting advice.

What is the next step?

If you are pre-seed through Series A with a standard cap table, subscribe at get-started, complete the short onboarding form, and upload your documents. You get an audit-ready report within 48 hours of receiving them.

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