United States. IRC section 409A common stock valuations
Compare 409A valuation providers for US startups
Four of nine providers list a price, five quote only after a call. The two ends sell different products: a cap table subscription, or a signed appraisal engagement. The table shows what each states on its own page, and when.
| Option | provider's own page, checked 15 Aug 2026 | ||||
|---|---|---|---|---|---|
| 409A.io Pre-seed to Series A cap tables with plain common and preferred | $99 a month, billed monthly on a 12 month minimum term | An initial report plus updates on request within the subscription, with the site stating that updates extend the term. Cap table uploaded by CSV or entered manually | 48 hours stated as the average, described as three steps in 48 hours | States it fields auditor questions directly rather than leaving the company to relay them | AI-generated reports with a human valuation professional reviewing every one before delivery. Backed by MELD Valuation, and the site says to graduate to full-service MELD once the cap table goes beyond standard common and preferred |
| Eqvista Companies that expect several refreshes in one year | Stage-based annual pricing: $990 pre-revenue or startup, $1,290 friends and family or angel, $1,990 seed, $2,590 Series A, custom at Series B and above | Unlimited 409A valuations for 12 months, described as multiple refreshes within the subscription year. States tiers are based on funding round but may vary with revenue, stakeholder count and capital structure | Standard turnaround not stated on the page. A 1 to 5 day expedite for 409A and FMV valuations is offered from an extra $490 | States lifetime audit support for every valuation and that reports are prepared in accordance with IRS safe harbor standards | NACVA certified valuation analysts. States reports often run to more than 50 pages |
| Cake Equity Seed and Series A companies buying cap table and 409A together | $1,500 as an add-on to any plan. The Team plan at $2,750 a year includes 409A valuations, and the pricing FAQ states Team includes two 409As described as worth $3,000 | A valuation bundled with cap table management, stock option grants, board approval flow and legal templates for stock options on C-corps. Pro is custom priced and adds ASC 718 and 3921 reporting | Not stated for the valuation. The page states most cap table migrations complete within 48 hours | Describes the 409A as audit ready and lists share-based payment and stock-based compensation reporting on the Pro plan | Not stated on the pricing page |
| Pulley Companies that want the valuation inside their cap table plan | 409A valuations are included in the Growth plan at $3,500 a year, which includes the first 40 stakeholders. The Startup plan at $1,200 a year does not include them. Token valuations are priced separately from $10,000 | The valuation plus cap table management, custom SAFE, option and RSA agreements, option exercises, Rule 701, Form 3921, board approvals and HRIS integrations | 3 to 5 days stated on its 409A page | States a 100 percent audit pass rate and free lifetime audit review support. That is the company's own claim about its own record and we have not verified it | States valuations are produced by in-house experts. Its SOC 2 Type II audit was performed by Insight Assurance |
| Eton Venture Services Companies that want a signed report from a specialist firm | No list price. The firm states on its own cost page that 409A valuations typically cost anywhere from $2,500 to $4,000, which is its characterization of the market rather than a published rate, and quotes each engagement individually | Two packages, early-stage for simple structures and late-stage for multiple rounds, subsidiaries or complex cap tables. Prices on complexity and turnaround only, explicitly not on company age, size or industry | 10 days standard, with delivery in as little as one day at a premium | States its valuations are audit defensible and that its team works with clients' legal counsel and independent auditors | States a team of Big 4 trained valuators and more than 10,000 completed 409A valuations. Its own guidance argues that cap table platforms automate the process and do not sign their reports |
| Kruze Consulting VC-backed startups that already outsource accounting | No figure published. Describes flat rate pricing and contrasts it with providers that require monthly recurring charges | A single 409A engagement producing a 30 plus page report, sold alongside its startup accounting and tax practice rather than a software subscription | 10 business days from the date all company information is submitted | States reports follow AICPA and USPAP guidelines and are defensible if audited. Its FAQ notes a valuation is valid for 12 months unless there is a material event | Valuation partners described as former Big 4 valuation partners and investment bankers, holding ASA or ABV credentials |
| MELD Valuation Complex securities, SAFEs and pre-IPO structures | No figure published, though the site lists transparent pricing as one of its differentiators and points to fund and startup service pages for scoping | IRC 409A safe harbor reports alongside ASC 718 stock compensation, equity allocation, convertible note, SAFE and complex securities work, from pre-revenue to pre-IPO | Not stated for 409A work. The site characterizes national firms as taking 4 to 8 weeks, which is a comparison it draws rather than a commitment it makes | Positions on audit defensibility and auditor coordination, criticizing fast-turnaround firms for weak defensibility and no auditor liaison | States senior-led engagements with a named senior on every engagement, AI-assisted, and 16 years as an independent valuation firm. Also operates 409A.io for early-stage work |
| Redwood Valuation Complex cap tables where the timeline is not the constraint | No figure published. Engagements are quoted after a contact form | 409A valuations within a valuation-only practice that also covers crypto and token, gift and estate, IP, ASC 820 and ASC 350 work | A draft typically ready for review within 3 to 4 weeks, with expedited options as short as one week, and longer for later-stage companies. The slowest standard turnaround published here | States it is happy to connect with the company and its auditor at any point during the process | A valuation-only firm with named partners holding CPA, CFA and CVA credentials, stating thousands of completed 409A valuations |
| Sharp 409A Companies shopping specifically on cost | No figure published. States the cost varies with company size, industry and other factors, and positions itself as a leader in cost-effective 409A valuations | 409A valuation reports, with a free consultation and a downloadable sample report offered before engagement | Described as speedy turnaround times, without a stated number of days | States reports strictly follow AICPA guidelines and meet the requirements of the IRS safe harbor standard | States more than 10 years of experience, over 1,000 valuations delivered and clients in more than 13 countries |
409A valuation list prices published by providers, and what each price actually buys
Last updated
No government body sets or publishes a 409A fee, and most of this market quotes rather than lists. These are the only list prices we could read on providers' own pages on 15 August 2026, with what each includes. A $99 subscription and a $3,500 plan are different purchases, alike only in ending with a report.
Each figure is copied from the provider's own pricing or service page on 15 August 2026 and reproduced, not estimated or averaged. Providers who publish no figure are listed as such with what they say instead, because 'quote only' is a real answer to 'what does it cost' and hiding it would misrepresent the market. Where a price is a subscription that bundles cap table software, the row says so: comparing a bundled annual plan against a single appraisal fee on headline number alone is the most common mistake made with tables like this one. Carta is not listed because its site refuses our requests at every path including its home page, so we could not read a price at source. Nothing here is paid placement and no provider pays us.
| Provider | Published price | What that price buys | Stated turnaround |
|---|---|---|---|
| 409A.io | $99 a month, 12 month minimum term | Initial report plus updates on request during the term, AI generated with human review | 48 hours average |
| Eqvista | $990 to $2,590 a year by funding stage, custom at Series B and above | Unlimited 409A valuations for 12 months by NACVA certified analysts, with lifetime audit support | Not stated; 1 to 5 day expedite from $490 |
| Cake Equity | $1,500 add-on to any plan, or the $2,750 a year Team plan | Valuation bundled with cap table management, option grants and board approvals; Team is stated to include two 409As | Not stated for the valuation |
| Pulley | $3,500 a year Growth plan; not included in the $1,200 Startup plan | Valuation bundled with cap table management, Rule 701, Form 3921, option exercises and HRIS integrations, first 40 stakeholders | 3 to 5 days |
| Eton Venture Services | Not published; states the market typically runs $2,500 to $4,000 | Early-stage or late-stage package, priced on cap table complexity and turnaround only | 10 days, or as little as one day at a premium |
| Kruze Consulting | Not published; described as flat rate | A single engagement producing a 30 plus page report, AICPA and USPAP | 10 business days from full information |
| MELD Valuation | Not published | 409A alongside ASC 718, complex securities and SAFE valuation, senior-led | Not stated |
| Redwood Valuation | Not published | 409A within a valuation-only practice covering token, estate, IP and ASC 820 work | Draft in 3 to 4 weeks, expedite from one week |
| Sharp 409A | Not published; states cost varies by size and industry | 409A reports with a free consultation and a sample report available first | Not stated |
- Four of nine 409A valuation providers publish a list price and five quote instead (checked 15 August 2026).
- The lowest published price is $99 a month on a 12 month minimum term (409A.io) and the highest published price that includes a valuation is $3,500 a year (Pulley's Growth plan, which bundles cap table management).
- Published turnaround runs from 48 hours (409A.io) to a draft in 3 to 4 weeks (Redwood Valuation), a spread of more than tenfold across what is nominally the same deliverable.
- Every published price except Eqvista's expedite fee is an annual or monthly subscription rather than a fee per report, so the headline number is not comparable to a single appraisal engagement.
- The safe harbor in Treas. Reg. 1.409A-1(b)(5)(iv)(B)(2)(i) turns on an independent appraisal dated no more than 12 months before the grant it is applied to, and nothing in the regulation turns on the fee paid.
Cite this page
“409A valuation list prices published by providers, and what each price actually buys”, 409A Providers, https://409aproviders.com/ (updated 2026-08-15). Each figure is copied from the provider's own pricing or service page on 15 August 2026 and reproduced, not estimated or averaged. Providers who publish no figure are listed as such with what they say instead, because 'quote only' is a real answer to 'what does it cost' and hiding it would misrepresent the market. Where a price is a subscription that bundles cap table software, the row says so: comparing a bundled annual plan against a single appraisal fee on headline number alone is the most common mistake made with tables like this one. Carta is not listed because its site refuses our requests at every path including its home page, so we could not read a price at source. Nothing here is paid placement and no provider pays us.
How we chose these, and how they are ordered
Each sells IRC section 409A common stock valuations to US private companies. We read each site on 15 August 2026. We sought five published facts: price, what it buys, turnaround, audit support, and who does and signs the work. Nothing here is a rating, score or review. Neither we nor anyone ranking all nine has commissioned a valuation from them.
Order: price transparency, then published price from lowest to highest, then providers with no figure. That reflects what is checkable, not a claim that cheaper is better. On this purchase it is not. You buy a report a future auditor, and possibly the IRS, will read. The regulation's safe harbor turns on the appraisal's quality and recency, not its fee.
Carta, the largest provider in this market by some distance, is missing: its site returned 403 to us at every path, home page included. We publish no row we cannot source. Sofer Advisors is absent for the same reason. Preferred Return's domain did not resolve on 15 August 2026. Aranca and Scalar had no readable 409A service page that day.
The table cannot show whether a report will survive your auditor. Every provider claims audit-ready reports, which no marketing page can test. We record what is checkable: price, stated time, whether needed refreshes are included, and whether a named, credentialed person signs. We take no commission or paid placements. Sister site 409acost.com counts how many valuations the regulation forces.
- 409A.io 409a.io
- Eqvista eqvista.com 409A valuation
- Cake Equity cakeequity.com pricing
- Pulley pulley.com pricing
- Eton Venture Services etonvs.com, how much does a 409A valuation cost
- Kruze Consulting kruzeconsulting.com 409A valuation
- MELD Valuation meldvaluation.com
- Redwood Valuation redwoodvaluation.com 409A valuations
- Sharp 409A sharp409a.com 409A valuation
409A Providers is an information site. It is not affiliated with, endorsed by or connected to the IRS, the US Treasury or any valuation provider named here, and nothing on it is tax, legal or accounting advice. We take no commission from any provider in this comparison and carry no paid placements. Provider prices and claims are what each provider published on its own pages on the date shown; they are market prices rather than published rates and they change without notice. Confirm your own position with your counsel and your accountant.
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Questions, answered directly
How much does a 409A valuation cost in 2026?
There is no published market rate, as no government body sets one. On 15 August 2026 providers' own pages listed 409A.io at $99 a month (12 month term) and Eqvista at $990 to $2,590 a year by stage, unlimited. Cake Equity lists $1,500 as an add-on or $2,750 a year (Team), and Pulley a $3,500 a year Growth plan including it. Five others quote. Eton Venture Services' cost page says valuations typically cost $2,500 to $4,000, its own view, not a published rate.
Which are the top 409A valuation firms?
No register ranks 409A valuation firms and audit claims are uncheckable, so we rank none on quality. Of the nine 409A valuation companies read on 15 August 2026, the appraisal specialists are Eton Venture Services, Kruze Consulting, MELD Valuation, Redwood Valuation and Sharp 409A. None lists a price. The four that list one, 409A.io, Eqvista, Cake Equity and Pulley, sell subscriptions, three inside cap table software.
What do 409A valuation services include?
At minimum, a written report of the common stock's fair market value at a stated date. Eqvista adds unlimited valuations for 12 months with lifetime audit support, and 409A.io updates on request during its 12 month term. Pulley and Cake Equity bundle it with cap table management and option grants, and Kruze delivers one 30 plus page report.
Which 409A valuation providers work with startups at each stage?
409A.io says it suits pre-seed through Series A. Cake Equity and Eqvista price by stage up to Series A ($2,590 a year at Eqvista) and quote custom from Series B. Both MELD Valuation and Redwood Valuation position themselves for complex cap tables, SAFEs and pre-IPO structures. 409A valuation providers for Series B funding sets this out stage by stage.
Is there a 409A valuation calculator?
No calculator can produce a 409A valuation. The safe harbor routes need an independent appraisal or a qualified person's written report, not a web formula. A calculator can estimate your yearly valuation spend, which depends more on how many you need than on the unit price. Our sister site 409acost.com works that through with your own quoted price.
Which 409A valuation providers publish their prices?
Four of the nine we compared: 409A.io, Eqvista, Cake Equity and Pulley. All four are subscriptions rather than per-report fees, and three bundle cap table software with the valuation. So their headline figures are not directly comparable to an appraisal firm's engagement fee. Eton Venture Services, Kruze Consulting, MELD Valuation, Redwood Valuation and Sharp 409A all quote per engagement.
How long does a 409A valuation take?
Published turnarounds run from 48 hours (409A.io) to a 3 to 4 week draft (Redwood Valuation). In between, Pulley states 3 to 5 days and Kruze Consulting 10 business days from full information. Eton Venture Services states 10 days, expedited to as fast as one day at a premium. Eqvista lists no standard turnaround but sells a 1 to 5 day expedite from an extra $490. Each clock starts once the provider has your complete information pack, which for most companies is the bottleneck.
What makes a 409A valuation defensible to the IRS?
The regulation presumes certain valuation methods reasonable, rebuttable by the Commissioner only if the method or its application was grossly unreasonable. Most startups use an independent appraisal meeting section 401(a)(28)(C), dated no more than 12 months before the transaction. There is also a formula route. For illiquid start-up stock, a reasonable, good-faith written report by a person the company reasonably determines is qualified also counts. Qualified generally means at least five years' relevant valuation, accounting, banking or comparable experience (Treas. Reg. 1.409A-1(b)(5)(iv)(B)).
Is a 409A from my cap table software good enough?
For many early-stage companies, yes, and providers broadly agree where the line falls. 409A.io says it suits pre-seed through Series A and sends companies to full-service MELD Valuation once the cap table goes beyond standard common and preferred. Cap table complexity, an approaching liquidity event, an auditor with a view, and secondaries or tender offers in the past year push companies to an independent appraisal firm. Ask your auditor first, who reads these reports for a living.
Why is Carta not in this comparison?
Carta, the best known provider, returned 403 to our automated checks at every path, home page included. Its price and service description were unreadable at source. We publish no row we cannot verify, a limit of this page, not a verdict on Carta. Sofer Advisors is absent likewise, and Preferred Return's domain did not resolve when we checked.
How many 409A valuations will we need?
Budget for one a year, plus one after each material event. The 12 month limit on the safe harbor appraisal sets the annual one. A value also becomes unreasonable if it fails to reflect later information that may materially affect value, as a priced round plainly does. So the count, not the unit price, drives most spending. Sister site 409acost.com works it through with your own quoted price.
Sources
This site's own datasets, every figure quoted from its source and dated:
- The 409A Validity and Turnaround carries 2 published figures read from 2 sources' own pages, from 10 to 12 day, read 11 November 2026.
- The 409A Valuation Standards carries 3 published figures read from 3 sources' own pages, under different breakdowns, so no one range is stated, read 11 November 2026.
Start with what they publish
Nine 409A valuation providers, the four that publish a price, the five that will not, and what each says about turnaround, audit support and who signs the report.