How Liscio Moved From Carta to Eqvista in Two Days Without Losing Its Cap Table History
Liscio needed more than a new cap table platform. It needed a provider that could preserve its equity history, support an active company restructure, and stay involved beyond the migration.
Liscio is a File Intelligence platform built specifically for accounting and tax professionals, helping firms manage documents, client requests, communication, and tax workflows while delivering a secure client experience.
As Liscio grew, its equity management needs evolved. The company had been using Carta, but its pricing and complexity no longer matched what the team needed. Liscio began looking for a provider that could deliver the core equity management capabilities it relied on, responsive support, and a more hands-on approach when it mattered.
Carmen Andino, HR & Administration at Liscio, was closely involved in the transition and the company’s equity management during the restructuring. She shared her experience moving Liscio from Carta to Eqvista and managing the transition with the Eqvista team. The quotes throughout this story come directly from Carmen and reflect her experience with the process.
The Challenge: Moving More Than a Cap Table
For Liscio, moving away from Carta started with finding a better fit. The team wanted the core capabilities it relied on every day, without paying for a level of complexity that didn’t match its needs.
“The value equation with Carta just didn’t add up. The pricing was built for a scale of equity management we didn’t need.”
But choosing a new provider wasn’t only about pricing or features. Liscio was going through a company restructure while employee equity grants were being updated and reconciled. Two former employees had also exercised their vested shares.
That made data integrity the biggest concern. The team needed to know that grants, exercises, cancellations, and the transaction history behind its ownership records would carry over accurately, not just the current ownership snapshot.
“Our main concern was data integrity — that something would get lost or misaligned in the move.”
Liscio also wanted a team that would stay involved when questions came up, rather than leaving the company to manage the transition on its own.
The Migration: From Carta to Eqvista in Two Days
Before Liscio canceled its Carta account, Eqvista provided clear instructions on what documentation and records the team needed to gather. Once those materials were provided, Eqvista handled most of the migration work, while Liscio focused on reviewing the transferred records and confirming that everything matched.
The historical transactions behind the cap table were preserved, including the grants, exercises, and cancellations that were particularly important during Liscio’s restructure.
From the initial call to onboarding, the entire process took just two days.
“It was surprisingly painless.”
For Liscio, the speed was important, but so was knowing the cap table had been transferred accurately and the team wouldn’t need to reconstruct its ownership history from scratch.
Back to Managing Equity Right Away
The first real test came after the migration.
Liscio was able to create new employee option grants immediately, without having to resolve migration issues or rebuild information from its previous system.
“Being able to create new employee option grants right away, without any hiccups, was the moment it clicked for us.”
For the team, that was a practical confirmation that the migration was complete and Eqvista was ready for everyday equity management.
Liscio continues to use Eqvista’s detailed cap table summary to understand its ownership position and support its ongoing equity management needs.
A Team That Stayed Involved
The support Liscio experienced during the migration continued after onboarding.
When questions came up, the team could reach Eqvista directly rather than feeling like requests were disappearing into a support queue. That same approach later carried into Liscio’s 409A valuation process.
“Eqvista stayed proactive throughout, checking in regularly and making sure any questions or needs we had were addressed right away.”
For Liscio, having that continuity meant the relationship didn’t end once the cap table had been migrated.
Extending the Relationship to 409A
In May 2026, Liscio engaged Eqvista for its 409A valuation. By then, the team had already experienced Eqvista’s migration process and ongoing support, giving it confidence in using the same provider for valuation.
“We felt confident that we were in good hands to get our 409A valuation done right alongside the cap table we already trusted them with.”
Keeping cap table management and the 409A valuation with the same provider also meant Liscio’s ownership records and valuation inputs were already aligned. According to Carmen Andino, this reduced the risk of discrepancies and saved the team considerable time.
“We would recommend managing your cap table and valuation through the same provider rather than treating them as separate processes.”
For Liscio, what began as a search for a better cap table provider had grown into a broader relationship covering both equity management and valuation.
A Better Fit for Liscio
Moving from Carta didn’t fundamentally change how Liscio manages its equity. What changed was the fit between the company and its provider.
Liscio now has the equity management capabilities it needs, its historical ownership records intact, and a team that remains available as its needs evolve.
“What has changed is the value we’re getting for that management: we now have a platform that’s appropriately scaled to our size, backed by a team that responds quickly when we need them, without the premium cost we were previously paying.”
For Liscio, the move was ultimately about more than switching cap table platforms. It was about finding a provider that could make the transition manageable, preserve the history behind its equity, and continue supporting the company beyond the migration.
Considering a move from your current cap table provider? Talk to an Eqvista migration specialist.
