Why Robin shifted from Carta to Cake

Let's face it—startups have enough on their plates without wrestling with complicated cap table software. This was precisely the challenge faced by Robin, a mental health platform for K-12 students. With over 40 investors, option holders, and shareholders, Robin needed a cap table solution that wouldn't give them a headache every time they needed to access critical information or update their equity structure.

After switching from their previous provider to Cake, Robin found exactly what they were looking for: a straightforward, user-friendly platform backed by responsive customer support that made equity management feel less like a chore and more like a natural extension of their business operations.

About Robin

Robin isn't just another EdTech startup—they're on a mission to transform mental health support for students across America. Founded by Sonny Thadani and Scott Farber four years ago, this ten-person company takes a preventative and proactive approach to student wellbeing.

"Our platform and our curriculum allows students and educators and parents to better understand the mental health of their students and school communities. We have assessments, a coaching platform, curriculum, lessons, and content that we deliver to schools across the country and hopefully one day the world." - Sonny Thadani, Co-founder and CEO at Robin

What began as a vision to give students the skills they need for life's challenges has grown into a comprehensive platform serving over 150 schools and districts, with the New York City Department of Education as their largest client. With outside capital raised in 2021 and 2022, Robin has built a diverse cap table that needed proper management to support their continued growth.

Challenge

When you're focused on expanding your impact, the last thing you want is software that slows you down. As Robin grew, their existing cap table solution became more of a hindrance than a help:

1. Costs kept climbing without proportionate value for a company of their size
2. Flexibility was lacking when they needed to adapt quickly
3. Navigation felt like a maze to find basic information about shareholders and options
4. Equity processes were cumbersome, particularly for 409A valuations

"As years went by and costs went up, and when I went to talk to them about cost... We're a young company. We're not as big as some of the larger institutions that are on the platform. I think what we needed at that time is a little bit more flexibility."

For Robin, equity wasn't just a line item on a spreadsheet—it represented their company culture and philosophy. They needed a solution that would support their belief in equity as both compensation and a way to create genuine ownership within their team.

Approach

Finding the right cap table solution wasn't a decision Robin took lightly. Their approach was methodical:

1. Word-of-mouth research: Thadani spoke with fellow founders and attended conferences, where Cake repeatedly came up in conversations.
2. Legal verification: They made sure their attorneys were comfortable with the platform's capabilities.
3. Hands-on evaluation: A demo of Cake showed them the intuitive interface and straightforward functionality they were looking for.
4. Transition planning: With sensitive financial data on the line, planning a smooth migration was paramount.

"On the first call that I had with the sales rep, everything was upfront. Everything was transparent from transition, which was one of my biggest concerns is how do you transition something so important to cost, which is always a founder's concern."

Solution

Sometimes the simplest solution is the most powerful. Robin found that Cake provided exactly what they needed without unnecessary complexity:

1. A dashboard that makes sense - critical information right on the homepage without hunting through multiple screens
2. Human help when you need it - real people ready to jump on a call and walk through questions step-by-step
3. Streamlined equity processes - from 409A valuations to option plans, everything became more manageable
4. Visual clarity - easy to see largest shareholders and available equity pool at a glance
5. Room to grow - a platform that can evolve alongside their business needs

"Even the homepage of Cake. When I look at it, it goes right to the information I need. I don't have to toggle to so many different places to get the key information, or the largest shareholders. How much is left in my ESOP plan or my option pool, which is very important for a growing company."

The transition itself was remarkably smooth—a critical factor for any founder worried about switching providers. What was supposed to take 48 hours happened in just 2, with all data accurately migrated and ready to use.

Results

The proof is in the pudding—or in this case, the cap table. Robin's switch to Cake delivered tangible benefits:

1. Lightning-fast setup: Cap table migration completed in hours, not days.
2. Information at their fingertips: No more digging through complex menus to find critical data.
3. Support that actually supports: Responsive representatives who didn't just answer questions but provided follow-up resources and guidance.
4. Hassle-free 409A process: Completed their first valuation with minimal friction.
5. Simplified option management: Easily set up and managed equity plans for their growing team.

"I was nervous. There's a lot of financial data, there's a lot of individual names, and the transition to your platform was seamless. Was done rather quickly. I think I was told 48 hours, but it seemed like in two hours it was all done and complete. And I saw the complete cap table on the home page right away."

Perhaps most importantly, the human touch didn't disappear after the sale was complete:

"I think I spoke to your customer service every day, maybe twice a day. But they were on the phone. They were helpful. They continue to be helpful, which is extremely important to me as someone who likes the human connection to likes to double check that I'm doing things appropriately for something so very important."

Equity Philosophy

For Robin, equity isn't just about legal compliance or financial record-keeping—it's about creating a team of owners who are invested in the company's mission and success.

"I learned early on that equity is not just a powerful tool, but is a must have tool for companies that want to scale and do great things. What wins and what turns companies from nothing to something and something to great is people."

Thadani believes in democratizing equity across the organization—not restricting it to executives only—while ensuring team members understand its value:

"I'm a big believer in using equity not just as compensation, but as a privilege and an opportunity to be an owner in the company. A true owner with a voice, with upside, and with long, sustainable value."

This philosophy requires education and transparency, especially for team members who may not have experience with equity compensation. Having a cap table platform that supports this mission through clarity and simplicity is invaluable.

Conclusion

In the startup world, adaptability isn't just nice to have—it's essential for survival. The same goes for the tools founders choose to manage their businesses.

"What I like about young, high growth companies with a good reputation, they adapt to the market and they adapt to founders needs and understanding that those needs will change over time. I believe that Cake will also adapt to the new versions of what founders might need moving forward."

For Robin, switching to Cake wasn't just about finding a better cap table solution—it was about finding a partner that aligned with their values of simplicity, responsiveness, and adaptability. As they continue their important work improving mental health resources for students across the country, they can rest easy knowing their equity management is in good hands.

The right tools should make your life easier, not harder. For startups like Robin, that means software that gets out of the way and lets you focus on what really matters: growing your business and making an impact.