409A Valuation Services in Chicago

Eton is a team of ex-Gunderson Dettmer lawyers who provide fast, defensible 409A valuations to Chicago startups at all stages of growth.

Trusted By Over 1,000 Companies

Our 409A Valuation Process

Day 1
Day 2
Day 8
Day 10
Information Collection
Valuation Modeling and Analysis
Draft Report Delivered; Client Review and Approval
Final Report Delivered
Audit Support

Our 409A Valuation Services

Since 2010, Eton has delivered thousands of audit-defensible 409A valuations. We’re a boutique team of Stanford Law lawyers and Ex-Big 4 Consultants who obsess over great service.

Having trained in Gunderson Dettmer, Silicon Valley, we’re specialists in valuing innovative technologies and fast-growth companies.

When you’re offering equity incentives to employees, we know that accurate, compliant valuations are of critical importance to you. We also know you want them fast and at a reasonable cost—which is the promise we deliver.


Eton does not sell software. Its sole focus on valuation and valuation advisory ensures impartial, objective judgments, maintaining compliance with IRS regulations and safe harbor protection.

Tailored Approach

Our team of experienced experts uses a combination of proven methods and proprietary tools to deliver data-driven valuations, considering each company's financial performance, financing history, market trends, and comparable public and private companies.

Proven Track Record

Since 2010, Eton has performed thousands of independent, audit-defensible valuations, establishing itself as a "go-to" valuation services firm for IRC 409A and ASC 718.

Unparalleled Expertise

Founded by securities lawyers from top law schools / law firms and staffed with finance professionals trained by the Big Four and other prominent financial services firms, Eton brings intellectual and quantitative rigor unmatched by others.

"As a former Gunderson lawyer, I co-founded Eton to bring the precision, efficiency, and the obsessive client service of corporate securities law to business valuation. I'm especially proud that our worldwide team of Big 4 trained CFAs has adopted that client service mantra wholeheartedly.

Our entire focus is on delivering audit-defensible, rigorous, and timely valuations without the inefficient back-and-forth of other firms. Client service is our religion. We always go the extra mile to overdeliver for every client."

Chris Walton, JD
President & CEO
Eton Venture Services
Previously at Gunderson Dettmer / Stanford Law


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What 409A valuation services do you provide in Chicago?

Eton is a full-service business valuation firm. We provide 409A valuations for 100s of top companies in Chicago, but we also do complex securities, portfolios, pensions, and the full suite of business valuations.

Our 409a valuations cost between $2500 and $4000. Read our full article here to understand how costs work.

Our 409a valuation services take 10 days as standard. However, when needed, we can do it in as little as one day but an expedited timeline does come at a higher 409a valuation cost. Read more about our timelines here.

Early-stage startups should perform their first 409A valuation before granting any stock options to employees or other stakeholders. By obtaining an accurate 409A valuation before issuing stock options, startups can ensure compliance with IRS regulations and minimize the risk of tax penalties. Additionally, startups should update their 409A valuations at least once every 12 months or more frequently if there are significant changes in the company’s circumstances or market conditions. Read about our 409a valuation process here.

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