Changelog

Exit Waterfall Builder

Version 1.2.0

Updates to the exit waterfall builder, newest first. Open the builder.

1.2.0

September 20, 2026

·Add with AI is now a conversation. It remembers clarifying questions and corrections, stays open across expanded and collapsed views, and reports the investment, shares, preference, participation, seniority, and exit inputs it changed.
·Import Excel (.xlsx and .xls) or searchable PDF files, or pull a saved cap table from the same Import menu. Anonymous users can save and sign in before choosing a saved cap table.
·The builder actions now stay together above the model: Add with AI, Import, and one Export menu for formatted or editable Excel.
·Waterfall precision now matches the cap-table builder, with whole shares on by default and Exact, 1, 2, 3, 4, or 6 significant digits for share prices. Saved, forked, imported, and AI-edited models keep those settings.
·Proceeds charts now use distinct categorical colors instead of a single color scale, with clearer legends and grouped overflow categories.
·The AI composer now runs through the shared OpenRouter model setting with conversation, request-size, per-minute, and daily usage limits, and the title switcher moves directly between the Cap Table Model and Exit Waterfall.

May 25, 2026

·Scenario sweep: run several exit valuations at once and see proceeds, gross multiple, and IRR per investor, with probability-weighted expected values.
·Excel export with live derived formulas (ownership, percent of proceeds, gross multiple) on top of the engine's distribution.

May 20, 2026

·Initial release. Model an exit across common and preferred, with liquidation preferences, participation, seniority, options and warrants, and unconverted SAFEs and notes.