Enter your SAFEs and the priced round to see who owns what after conversion – founders, each SAFE, the new pool and new investors.
Simplified model of the YC post-money SAFE: each SAFE owns amount ÷ cap of the company before the priced round (or amount ÷ pre-money if the round is priced below the cap). The new pool is created before the new money (in the pre-money), so it dilutes existing holders only. Discounts, MFN and pro-rata rights are ignored. Not legal or tax advice.
Copy the code into your page or blog post. The tool runs in your visitors' browser; keep the credit line.
Share your deck as a tracked link and see which investors read it, then open a due diligence room with NDA before access – one flat price.
Stacking SAFEs feels painless because nothing happens until the priced round – then they all convert at once. Modelling the conversion before raising more on SAFEs avoids surprises at the Series A.
The YC standard since 2018: the valuation cap includes all SAFEs, so each SAFE holder's ownership before the priced round is simply amount ÷ cap.
Once when SAFEs convert and again by the new investors and the option pool created in the round – this calculator shows both.
It is a simplified model; discounts, MFN clauses and pro-rata rights are ignored. Check your cap table with your lawyer.