Hemrock
Hemrock: A flexible scenario modeler for complex cap table and financing analysis. Ranked #15 of 26 in Cap Table Management Software by our editors (7.2/10); pricing: Free plan; best for modeling-heavy users focused on financing scenarios.
At a glance
- Editor score7.2 / 10
- PricingFree plan
- Best forModeling-heavy users focused on financing scenarios
- Free planYes
- Share class trackingYes
- Founded2005
- Facts checked21 Sep 2026
Where it wins
- Models SAFEs, notes, dilution, option pools, and share classes
- Calculates liquidation preferences, participation, dividends, and waterfalls
- Connects with Excel, Google Sheets, APIs, MCP, Claude, and ChatGPT
Where it doesn't
- It is a modeling and scenario tool, not a cap table tracker
- Saving and sharing models requires a pay-what-you-want purchase
- Its feature set may be more detailed than needed for simple ownership records
Our verdict on Hemrock
Hemrock is a web-based cap table and exit waterfall modeling tool for founders, investors, and legal advisers. It focuses on financing and ownership scenarios rather than ongoing cap table tracking. Users can model multiple funding rounds, SAFE and convertible note conversions, option pool issuance and refreshes, dilution and anti-dilution provisions, multiple share classes, and exit proceeds. The browser builder is free to use, making Hemrock particularly relevant to teams that need to explore transaction structures before settling on an ownership outcome.
The standout feature is the depth of its scenario modeling. Hemrock covers liquidation preferences, participation, dividends, option grants, and conversion mechanics alongside standard capitalization table work. That combination supports analysis of how financing terms affect ownership and exit distributions. Its Excel download and Google Sheets copy options also suit users who want to continue reviewing or adapting calculations in familiar spreadsheet environments. Founders and advisers working through complex rounds should find this broader modeling scope more relevant than a tool centered only on recording current ownership.
Hemrock uses a pay-what-you-want purchase model: the browser builder is free, while saving and sharing models requires a purchase. The product includes free email support, API and MCP calculation access, and integrations with Microsoft Excel, Google Sheets, Claude, ChatGPT, and MCP-compatible tools. Those connections make it a fit for users who want calculations available across web, spreadsheet, or supported AI workflows. Choose Hemrock for financing scenarios, conversions, dilution analysis, and waterfall outcomes; choose a dedicated cap table tracker instead if the primary need is maintaining an ongoing ownership record rather than modeling alternatives.
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Hemrock pricing
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Hemrock fact sheet
| Free plan | Yes |
|---|---|
| Paid from | Not verified |
| Share class tracking | Yes |
| Option management | Yes |
| Dilution scenarios | Yes |
| Fundraising modeling | Yes |
| Cap table import | Not verified |
| Export formats | Multiple |
| Deployment | Cloud |
| Platforms | Web |
| Support | Email, Phone, Docs |
| Built for | Solo, Small business, Mid-market (editorial estimate) |
| Integrations | 5 integrations: Microsoft Excel, Google Sheets, Claude, ChatGPT, MCP-compatible tools |
| Pricing | Free plan (source) |
| Website | hemrock.com |
| Facts checked | 21 Sep 2026 |
Hemrock integrations
Hemrock lists 5 integrations on its own site.
- Microsoft Excel
- Google Sheets
- Claude
- ChatGPT
- MCP-compatible tools
Alternatives to Hemrock
- PulleyA cap table platform with compliance workflows, portals, modeling, and payroll integrations.8.9
- Cake EquityA broad cap table platform with a free entry tier and advanced compliance workflows.8.7
- LedgyA broad equity platform for international compliance, reporting, and employee equity workflows.8.5
See all Hemrock alternatives →
Also Ranked In
Hemrock is ranked in 2 of our directories.
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Reviewed by iTechGuides Editors · Editorial team · Updated Oct 2026
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