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    Best 409A Valuations Firms for USA Clients in 2026

    Review leading 409a valuations firms serving USA clients, with company profiles that explain each provider's expertise, delivery focus and fit.

    Use the comparison to build a shortlist, then review each company profile for its specialty, location and approach.

    Updated October 10, 2026

    409A Valuations Firms Comparison Table 2026

    Side-by-side comparison of leading providers serving USA clients

    CompanySpecialtyLocationWebsite
    #1CartaIndustry-standard 409A and cap table platform, cited at roughly $300M+ ARR and a $7B+ valuation.San Francisco, CA, USAVisit site
    #2Kroll (formerly Duff & Phelps)Cited as having one of the strongest audit-defense reputations in the market and the standard choice for enterprise and private equity portfolio valuati…New York, NY, USAVisit site
    #3Eton Venture ServicesOperating since 2010 with a team citing 150+ years of collective valuation experience and 10,000+ completed valuations.Global / remoteVisit site
    #4StoutMiddle-market valuation and advisory firm cited alongside Kroll for the strongest audit-defense reputations, with revenue around $300M+.Detroit, MI, USAVisit site
    #5ArancaProvides outsourced custom valuations for mid-size to large enterprises, positioned for complex multi-class capital structures.Mumbai, India and Princeton, NJ, USAVisit site
    #6PulleyFounder-first equity platform delivering 409A valuations bundled into its plans, positioned as the leading challenger to Carta at roughly 30-50% lower c…San Francisco, CA, USAVisit site
    #7ScalarIndependent valuation firm cited among the audit-defensible providers for companies needing a standalone appraisal rather than a platform-bundled report.Global / remoteVisit site
    #8AndersenGlobal tax, valuation and advisory firm cited among the independent audit-defensible 409A providers, suited to companies with Big Four auditors or compl…San Francisco, CA, USAVisit site
    #9Kruze ConsultingStartup-focused accounting firm offering 409A valuations within a broader CFO-as-a-service package, conducted by credentialed appraisers.San Francisco, CA, USAVisit site
    #10EqvistaCost-focused provider with an in-house team of NACVA-certified experts, serving early-stage through pre-IPO companies.Wyoming, USAVisit site

    Use this comparison to identify a shortlist, then review the detailed company profiles and USA buyer’s guide below.

    Detailed 409A Valuations company profiles

    Review the available information for each provider before requesting references, pricing and a project proposal.

    1.Carta

    San Francisco, CA, USA

    Industry-standard 409A and cap table platform, cited at roughly $300M+ ARR and a $7B+ valuation. Reports carry an audit-defense guarantee and are widely accepted by Big Four and regional auditors. Typical turnaround 2-4 weeks; pricing roughly $2,000-$15,000 by stage.

    Visit website →

    2.Kroll (formerly Duff & Phelps)

    New York, NY, USA

    Cited as having one of the strongest audit-defense reputations in the market and the standard choice for enterprise and private equity portfolio valuations. Revenue cited at approximately $2B+. Standalone service - does not manage cap tables.

    Visit website →

    3.Eton Venture Services

    Operating since 2010 with a team citing 150+ years of collective valuation experience and 10,000+ completed valuations. Reports prepared and reviewed by senior professionals including ex-Big-Four consultants and signed by qualified appraisers. Clients cited include Pinterest, Perplexity and Substack.

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    4.Stout

    Detroit, MI, USA

    Middle-market valuation and advisory firm cited alongside Kroll for the strongest audit-defense reputations, with revenue around $300M+. Typical engagements $10,000-$50,000+.

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    5.Aranca

    Mumbai, India and Princeton, NJ, USA

    Provides outsourced custom valuations for mid-size to large enterprises, positioned for complex multi-class capital structures. Engagements cited at $10,000-$75,000+. Standalone service with no cap table integration.

    Visit website →

    6.Pulley

    San Francisco, CA, USA

    Founder-first equity platform delivering 409A valuations bundled into its plans, positioned as the leading challenger to Carta at roughly 30-50% lower cost. Cap table integration, scenario modelling and lifetime audit support.

    Visit website →

    7.Scalar

    Independent valuation firm cited among the audit-defensible providers for companies needing a standalone appraisal rather than a platform-bundled report. Engagements cited at $5,000-$15,000.

    Visit website →

    8.Andersen

    San Francisco, CA, USA

    Global tax, valuation and advisory firm cited among the independent audit-defensible 409A providers, suited to companies with Big Four auditors or complex structures.

    Visit website →

    9.Kruze Consulting

    San Francisco, CA, USA

    Startup-focused accounting firm offering 409A valuations within a broader CFO-as-a-service package, conducted by credentialed appraisers. Published pricing: $2,000 Seed/Pre-Seed, $2,500 Series A, $3,000 Series B, $3,500 Series C.

    Visit website →

    10.Eqvista

    Wyoming, USA

    Cost-focused provider with an in-house team of NACVA-certified experts, serving early-stage through pre-IPO companies. Transparent stage-based pricing starting at $990/year for pre-funded startups.

    Visit website →
    USA Buyer’s Guide

    How to choose the best 409A Valuations Firms

    Compare delivery models, rates, contracts and risk before selecting a provider for a US engagement.

    01

    How we shortlist 409A Valuations Firms firms for US clients

    This page lists 10 409a valuations firms providers that work with United States clients. We look at delivery track record, whether the team overlaps with US time zones, how they scope and price work, and whether they can sign standard US contracts including an MSA, SOW, NDA and mutual indemnity.

    Firms currently featured include Carta, Kroll (formerly Duff & Phelps), Eton Venture Services, and Stout.

    Delivery footprints on this list span San Francisco, CA, USA, New York, NY, USA, Detroit, MI, USA, and Mumbai, India and Princeton, NJ, USA, so you can choose between onshore US delivery, nearshore teams with 3–5 hours of overlap, and offshore teams priced for volume work.

    02

    409A Valuations Firms rates and engagement models in the US

    US buyers usually see three engagement models for 409a valuations firms: fixed-scope projects, time and materials with a monthly cap, and a dedicated team retainer. Onshore US consultancies typically bill $136–$250 per hour, nearshore partners in Latin America $55–$95, and offshore teams $25–$55.

    Ask for a rate card by role, not a blended rate — a blended number hides how much of the work is done by junior staff. For fixed-bid work, insist on a written change-order process, and for retainers, confirm the notice period and any minimum monthly hours.

    Watch the total cost of ownership: discovery workshops, knowledge transfer, post-launch support, and the cost of taking the work back in house at the end.

    03

    Contracts, compliance and risk for US engagements

    Before you sign, confirm the provider carries professional liability (E&O) and cyber insurance with US-acceptable limits, and that the MSA clearly assigns IP ownership of all deliverables to you on payment.

    If the engagement touches regulated data, get the compliance posture in writing: SOC 2 Type II for the provider's own systems, HIPAA with a signed BAA for health data, CCPA/CPRA handling for California consumer data, GLBA for financial services, and background-check policies for anyone with production access.

    Also nail down worker classification and subcontracting — many US buyers require written approval before any part of the work is passed to a third party.

    04

    Questions to ask every 409a valuations firms provider

    • Who exactly will do the work, and can we interview them before the SOW is signed?
    • Show two references from US clients of our size in the last 18 months.
    • What is your escalation path, and what hours does your team overlap with ours?
    • How is scope change handled — hourly, change order, or absorbed?
    • What does handover look like if we end the engagement in 90 days?
    • Which parts of delivery are subcontracted, and to whom?

    Run the same questions past two or three firms from this list and compare the answers side by side — the differences are usually more revealing than the proposals.

    FAQ

    Frequently asked questions about 409A Valuations Firms

    Practical answers for USA clients comparing providers, pricing and engagement models.

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