Get expert answers to cover any risks, in hours not days. Built for underwriters.
Every deal raises legal, financial and sector-specific questions that diligence alone can't answer. You need those answers to get comfortable with the risk. Carn gives you answers from vetted experts in hours, with AI doing the groundwork, at a fraction of what a lawyer would charge.
Do enterprise SaaS contracts in this sub-sector usually survive a change of control, or do customers get a consent right?
Change-of-control consent rights are common in enterprise B2B SaaS, but usually limited to the largest accounts. In the contracts shared, roughlyone in eight by value carries an assignment restriction. Whether the target actually holds the consents isn't in the pack.
Is that level of contract churn on a change of control normal for the sector, or a red flag?
Whether that's normal comes down to operating experience, not the documents. Sending it to a confirmed expert who's run commercial diligence on SaaS carve-outs.
"On comparable SaaS carve-outs, what share of enterprise revenue typically churns on a change of control, and what made the difference?"
Every deal surfaces questions only experts can answer. Lawyers typically answer these, but should they?
Getting comfortable with a risk comes down to financial, legal and sector-specific questions. The options are relying on client-side diligence, lawyers or vague AI claims. None of these is efficient.
Limited time
Once the diligence lands, you've often got a matter of days to get your questions in. That's not long enough to find the right expert from scratch.
Lost in translation
You're reading the buyer's and seller's diligence through lawyers. They're not the operator, the engineer, or the regulator who actually knows the answer.
Expensive
A lawyer's opinion starts at £10k. In the age of AI, this doesn't add up. Carn cuts the bill and the time-to-answer while increasing the quality of response.
From a one-line heads-up to expert answers.
You approve every step, and nothing that identifies the deal leaves your side unless you say so. Here's how a single deal runs.
Tell us the sector. That's all.
A line is enough: "a real estate deal in London", "a data-centre build in Spain". No names, no numbers, no documents. We start finding the right experts while you're still quoting.
We get the right people ready.
We retain an expert bench covering the areas that arise on every deal, as well as the sectors you need. We line up reliable experts who confirm they're available for the coming weeks.
You say "live". We confirm the bench.
Once the deal is on, we put a selection of experts on call for the underwriting window, picked to cover different kinds of question. You approve them before we send any questions.
Ask your hardest questions.
Ask Carn the way you'd ask a colleague, in the email or chat the deal already lives in. It writes an answer from the diligence, similar past deals, and public sources, and tells you what it can't confirm.
The real unknowns go to an expert.
Carn writes the exact question and sends it to the right expert on your approved bench. They reply with a written response or through a call with an AI agent. Request a follow-up if anything is unclear.
Answers you can rely on.
You get the answer, the expert's reasoning, the sources, and a record of what was shared. We keep it, so the next deal in that sector is quicker. Only for you, never shared with other carriers.
It tells you what it knows, and what it doesn't.
No underwriter wants to rely on a guess. Every answer is marked, so you can see exactly where the proof stops.
Backed by a primary source: the diligence you've shared, filings, public records, or a past expert answer. You can check where it came from.
"Change-of-control consent is standard in this sub-sector's enterprise contracts."
DD report · §4.2Worked out from several proven points, and labelled as such, never passed off as certain. You decide whether it's enough to price on.
"Around one in eight enterprise accounts by value carries an assignment restriction."
from 4 sourcesCarn won't guess. It writes the exact question and sends it to the right expert on your bench, with your approval.
"Did this target actually get consents on its top accounts?"
send to expertAI does the legwork, reading the diligence, checking the sources, and getting the question right. The judgment still comes from an expert who's done it before. The AI sits underneath; it isn't the answer.
Carn gives you the experts a deal actually needs.
Most deals need more than one specialist. So the bench has two parts: a core that comes up on nearly every deal, and sector experts we bring in when the deal calls for them.
The experts nearly every deal needs
Every deal already has legal, financial (QoE) and tax diligence. Carn adds the independent operator and second opinion alongside them, not another QoE firm, and not a replacement for your own advisers.
Sector experts, brought in when you need them
Matched to the deal, and sourced against the sectors that are actually trading: energy & infrastructure, renewables, data centres, fiber, healthcare & pharma.
Energy & infrastructure
Data centres & digital infra
Healthcare & pharma
Cyber, IP & regulated
One clear specialism
Each expert covers one specific area. No general M&A advisors or strategy consultants. A narrow specialist who can answer in 15–30 minutes beats a generalist.
Operators, regulators, partners
Retired and semi-retired operators, former regulators, and ex-Big-4 deal partners - people who've made the call before, not researchers.
Checked before you see them
Work history, credentials, deal experience and references, all checked before we put anyone in front of you.
Conflict-cleared
Checked against the target, the parties, the advisers and direct competitors before they go near your deal.
Answer at sector level
Able to give a useful view from the sector and the question alone, without needing details about the target.
Quick, and checked
Held to a response time, and reviewed by us before the answer reaches you. Speed is the point.
Built for the way you handle confidential deals.
When a deal leaks, the insurer gets blamed for being the weak link. So the rule is simple: nothing that identifies the deal leaves your side unless you say so.
Sector-level by default
We work from the sector, the area, the country, and the question. No target name, parties, numbers, or documents, unless you choose to share more.
Your paperwork first
If a question needs target-specific detail, the expert signs your NDA, NRL, or HHL, or your agreed equivalent, before anything confidential is shared.
You approve everything
The expert, the question, and anything shared beyond sector level, you approve it all before we contact anyone.
Conflict checks
Every expert is checked against the target, the parties, the advisers, and direct competitors first.
A record of what was shared
Every step is logged: what was shared, with whom, when, and under which paperwork. An audit trail you can hand to compliance.
Experts stay in control
We never use an expert's answers to train anything without their say-so. Their knowledge stays theirs.
Lawyers for the law. Carn for the questions they can't answer.
| Lawyers | Expert networks · GLG / Third Bridge | Carn | |
|---|---|---|---|
| What it's for | Legal drafting and opinions | Expert calls on any topic | Sector answers during the underwriting window |
| Speed | Days, billed by the hour | Book a call, then wait | Same day. The experts are lined up before the deal goes live |
| Cost | £10k+ a deal | Subscription or per-call | No retainer. Pay only for answers |
| Confidentiality | Full, but slow | Covered but not tailored to you | Sector-level by default; your paperwork when needed |
| If the answer's missing | Bills more time | Book another call | Tells you, then finds it |
| What you keep | A memo | A transcript | A reusable bench, by sector |
Try it on a live deal.
At quote stage, tell us the sector and we'll line up the experts. When the deal goes live and the hard questions come up, you get expert answers in time to use them. Or start with a deal you closed last quarter. See the work for yourself.