These products solve different problems that both get called 'business valuation.' Eqvista exists for startups granting stock options: an independent, audit-ready 409(a) signed by NACVA-certified analysts, starting at $990, plus cap-table management. EvalyMe exists for founders who want to know roughly what the business is worth and what to fix next. Buy the one your situation legally requires — or neither, if neither fits.
- Granting stock options
- Eqvista — 409(a) from $990 with NACVA-certified analysts, audit-ready.
- Raising or selling soon
- Neither is required — but a directional estimate plus clean metrics beats a stale 409(a).
- Improving value over quarters
- EvalyMe — operating score, factor breakdown, 30/60/90-day playbooks.
- Cap-table management
- Eqvista — it's part of their platform; EvalyMe doesn't touch cap tables.
The picks at a glance
| Tool | What it's for | Price | Who stands behind the number |
|---|---|---|---|
| EvalyMe | Directional estimate + improvement plan | $0 calculator · Pro $14.99/mo | You — the formula is published and runs on your inputs |
| Eqvista 409(a) | IRS safe-harbor option pricing | From $990 per engagement | NACVA-certified analysts, audit-ready report |
| 409.AI | Faster 409(a) drafts | From $899, ~24h draft | Independent provider, technology-led process |
What actually differs
A 409(a) valuation answers a narrow legal question: what is the fair market value of a share of common stock, so option strikes satisfy IRS rules? Get this wrong (or skip it) and your employees can face penalties; get it right and you have safe harbor. It's a document a professional signs, which is why it costs four figures and takes days, not seconds.
EvalyMe answers an operating question: roughly what is this business worth, which factors are capping it, and what should the next 90 days look like? It's fast, cheap, and inspectable — and carries no legal weight whatsoever.
Founders end up needing both at different moments: a 409(a) the week the option pool moves, a directional estimate the other fifty weeks while they're actually building.
1.Eqvista
- Best for
- Startups granting options, cap-table needs
- Price
- 409(a) from $990; cap-table plans vary
- Backing
- NACVA-certified analysts; 5,000+ valuations claimed
- Output
- Audit-ready 409(a) report for IRS safe harbor
Eqvista packages what startups legally need: an independent 409(a) performed by credentialed analysts, with cap-table management around it. If your board is approving an option grant, this category of product — Eqvista or a peer — is the correct purchase, full stop.
The catch: at ~$990+ per engagement it's an event-driven purchase, not something you re-run monthly. You're paying for defensibility, not for iteration.
2.EvalyMe ours
- Best for
- The other fifty weeks: tracking and improving value
- Price
- Calculator free · Pro $14.99/mo
- Backing
- A published formula, engine version stamping, your own inputs
- Output
- Directional range, operating score, exit playbook
Between funding events, the useful question isn't "what is the strike price" but "what would a buyer pay, and what's capping it?" EvalyMe's six-factor operating score names the weak factor, and the playbooks turn it into tasks. Re-running costs nothing and takes a minute.
The catch: no certification, no safe harbor, no analysts. Using this for option grants would be a compliance error, and we'd rather lose the sale than have you make it.
Our pick, by situation
- Board approving option grants this month: Eqvista or 409.AI. This is not a place to save money.
- Pre-revenue or no options outstanding: you don't need a 409(a) yet; a free directional estimate covers the curiosity honestly.
- Bootstrapped, thinking about selling in 1–3 years: EvalyMe — buyers won't ask for your 409(a), they'll build their own model.
- Both: several of our users run a 409(a) annually for compliance and EvalyMe continuously for operating decisions.
What I'd do today
- Figure out which problem you actually have: option grants (compliance) or "what's it worth" (curiosity/planning).
- If compliance: get quotes from Eqvista ($990+) and 409.AI ($899) and ask both about turnaround and safe-harbor documentation.
- If planning: run EvalyMe's free calculator now, then once a month. Watch which factor caps the score.
- When your first option grant lands, buy the 409(a) — and keep the operating estimate for everything else.
Questions
Can EvalyMe replace a 409(a) valuation? +
No. A 409(a) is a compliance document performed by an independent valuation provider so your option grants get IRS safe-harbor treatment. EvalyMe is a directional self-estimate. If you are granting options, you need a real 409(a) — from Eqvista, 409.AI, or another provider.
Is a 409(a) useful for selling my company? +
Not really. A 409(a) values common stock for option pricing; M&A buyers price the whole company on their own models, growth, and strategic fit. If your goal is a sale, a directional estimate plus clean books gets you further than a 409(a).
What does a 409(a) cost? +
Eqvista advertises 409(a) valuations starting at $990, performed by NACVA-certified analysts. 409.AI advertises drafts from $899 with a 24-hour turnaround. Traditional firms charge more. Checked October 2026.
Then why compare them at all? +
Because founders Google both when they need "a valuation," and the two products are frequently confused. Naming the difference explicitly — compliance document versus operating estimate — saves people from paying $990 for the wrong thing or, worse, using the wrong thing for compliance.
Does Eqvista do directional estimates too? +
Eqvista's center of gravity is professional valuation services and cap-table management. Their whole model assumes a professional stands behind the output — that's the point, and it's what you're paying for.
Competitor details from public sources, checked October 2026. EvalyMe outputs are estimates, not appraisals, 409(a) valuations, tax, legal, or investment advice.