When we last checked in with eShares, the company had just launched its platform for issuing and managing electronic stock, rather than paper certificates, to employees, investors, and other shareholders.

Now the company hopes to make its offering even more compelling, by expanding its system to help manage stock options as well.

The startup has just released its new stock option service, which will allow companies to easily and cost-efficiently issue option grants to employees.

Using the platform, startups can issue options without printing contracts or even sending email, since eShares handles all e-signatures and delivery of grants.

The vast majority of employees don’t understand the value of their options or what they can do with them,” eShares co-founder Henry Ward tells me.

Issuing stock options via eShares has the added benefit of providing companies with a view into the cap table that is updated in real-time, without any need for attorneys to manually update spreadsheets to keep track of who has exercised option grants and when.

Since the summer, eShares has grown to support more than 250 private companies who manage their shares electronically, and has had nearly billion shares issued on the platform since launch.