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Cap Table & Dilution Modeler — Seed Round & Exit Waterfall, Interactive

Model how equity dilution actually plays out across funding rounds — a seed round, subsequent raises, an option pool refresh — and see the exit waterfall showing who gets paid what and in which order, adjusting assumptions interactively rather than working it out by hand in a spreadsheet.

How to use AIFlow Cap Table Master

  1. Set up your starting cap table.
  2. Add funding rounds with valuation and amount raised.
  3. Watch ownership percentages update after each round.
  4. Model an exit waterfall to see payout order.

Frequently asked questions

Why does an option pool refresh dilute existing holders?
A pool refresh typically happens pre-money, meaning existing shareholders absorb the dilution before the new investor's money comes in — a detail that surprises founders who expect the new investor to share that cost.
What is an exit waterfall?
The order in which proceeds from a sale or exit get distributed — liquidation preferences are typically paid out before common shareholders, which can mean less for founders than the headline valuation suggests.
Is this legal or financial advice for an actual raise?
No — it is a modeling sandbox for understanding mechanics and exploring scenarios; use qualified counsel and a real cap table tool for an actual transaction.

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