Mantle (Ten Key Labs Incorporated)
Mantle, which operates as Ten Key Labs Incorporated, is a financial technology company headquartered in Toronto, Canada. Founded in 2022, the company specializes in providing an advanced, AI-powered platform for equity and capitalization table (cap table) management.
Mantle's core mission is to simplify the complexities of company ownership for founders, startups, investors, and legal teams. It positions itself as a modern, founder-friendly, and cost-effective alternative to traditional equity management software and spreadsheet-based methods. The platform is designed to automate manual data entry, provide clear financial models, and ensure that a company's equity data is accurate, compliant, and ready for diligence at all times.
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Core Business and Focus
Mantle's business is centered on its Software-as-a-Service (SaaS) platform, which is engineered to manage the entire lifecycle of a private company's equity. The company?s primary focus is on leveraging artificial intelligence to eliminate the most time-consuming and error-prone aspects of cap table management.
The platform's key innovation is its "AI Extract" feature. This technology allows users to upload their existing legal documents?such as SAFE agreements, convertible notes, share purchase agreements, and option grants?and the platform's AI automatically reads, interprets, and structures this data to build a complete and accurate cap table. This AI-driven onboarding is a core differentiator, designed to take a process that could traditionally take days or weeks and reduce it to minutes.
Mantle's target audience ranges from early-stage startups (pre-seed and seed) to later-stage, high-growth companies, as well as the venture capital firms, investors, and law firms that support them. The company supports corporations in both Canada and the United States (C-corps).
Products and Services
Mantle's offerings are delivered through its unified equity management platform, which is available in different tiers, including a free "Starter" plan for early-stage companies.
Startup & Founder Solutions
This is the main platform for private companies to manage their ownership.
- AI-Powered Cap Table Management: The central product. It provides a real-time, accurate ledger of who owns what in the company. This includes:
- Issuing and Tracking: Managing common shares, preferred shares, option grants, warrants, SAFEs, and convertible notes.
- AI Extract: The AI-powered document ingestion tool that automatically populates the cap table from legal paperwork, eliminating manual entry.
- Scenario Modeling & Forecasting: The platform provides powerful, visual tools for financial planning. Founders can:
- Model Funding Rounds: Simulate new financing rounds (priced rounds or convertibles) to instantly see the dilution impact on all existing stakeholders.
- Analyze Term Sheets: Use the "TermSheet Modeler" to compare different investment offers and understand their implications without complex spreadsheets.
- Waterfall Analysis: Run waterfall analyses to determine payout structures and proceeds for each shareholder in the event of an exit (e.g., an acquisition).
- Compliance and Reporting: The platform is designed to keep companies "diligence-ready" and compliant.
- OCF Compliance: The platform is fully compliant with the Open Cap Table Format (OCF), a standardized format that ensures data is easily and accurately transferable between a company, its law firms, and investors.
- Diligence Health Checks: The system runs real-time checks to flag potential errors or inconsistencies in the cap table, ensuring it is accurate for investors or auditors.
- 409A Valuations: Mantle provides and manages 409A valuations, which are required by the IRS in the U.S. to set the fair market value of common stock for issuing options.
- Unlimited Stakeholder Collaboration: The platform functions as a single source of truth for all equity-related information, allowing founders to grant access to an unlimited number of stakeholders (employees, investors, legal counsel) at no additional cost.
Investor & LP Solutions (Mantle Portal)
Mantle also offers a distinct product aimed at investors, specifically Limited Partners (LPs) such as family offices and fund of funds.
- Mantle Portal: This is a unified investment portal that automates the aggregation of investment documents from various sources.
- Automated Document Collection: The portal connects to various investor portals and email inboxes to automatically gather capital calls, distribution notices, K-1 tax forms, and investor updates.
- AI-Powered Data Extraction: Similar to its cap table product, the Portal uses AI to extract critical data (entities, dates, amounts) from these unstructured documents.
- Mantle Portal Reports: This service provides LPs with real-time, structured reports and dynamic visualizations of their entire investment portfolio, enabling them to track performance, cash flow, and exposure across all their funds and direct investments.
