Fidelity Private Shares vs Shareworks

Fidelity Private Shares is a web-based equity management platform for private companies, covering ownership, governance and fundraising from early rounds through IPO. Its cap table tracks grants, SAFEs, notes and preferred shares, with entries linked to supporting legal documents in a data room. Files are organized there, and missing documents are flagged. Scenario tools model dilution and possible financing or exit outcomes; a next-round planner can export pro forma results. Custom permissions let employees, lawyers, auditors and investors access relevant equity information and diligence materials. Reports include grant history, transfers, option overhang, 83(b) and ASC 718. The free Launch plan includes cap table management, equity plan generation, a data room, board consents, scenario modeling, standard reporting, 83(b) generation, Rule 701 exemption checks and electronic securities. Launch is limited to up to 25 stakeholders and companies that have raised less than $1M. Growth and Scale subscriptions include HRIS integration, and Gusto is listed for syncing equity, HR and payroll information. The maker describes the platform as serving founders and operators, legal teams, investors and boards.

Shareworks is an equity compensation management platform for private and public companies, available on Android, iOS, and the web. Administrators can set up custom global plans and use a sandbox to model budgets and compare forecasts. Reporting supports audit-ready outputs, including 409A valuations and Section 16 filings; private companies can also track capitalization data. The platform shares HRIS data in real time through an API, and Morgan Stanley has announced integrations with Pave, Wilson Sonsini, and Workday. The mobile app lets account holders review portfolios and transaction history, sell or transfer shares, and exercise options. A Shareworks account is required to use it. The iOS app says it supports Face ID or Touch ID, encrypts communications, and does not store financial data on the device. The platform supports restricted stock units, stock options, employee stock purchase plans, custom vesting rules, employee portals, and valuations. Pricing is on request. Services are provided by Morgan Stanley Smith Barney LLC and its affiliates.