Turnstone
Home Privacy Launch App

Terms of Service

Effective date: February 26, 2026

These Terms of Service ("Terms") govern your use of the Turnstone Deal Screener platform ("Service") operated by Turnstone ("we," "us," or "our"). By creating an account or using the Service, you agree to these Terms. If you do not agree, do not use the Service.

1. Service Description

Turnstone provides an AI-powered deal screening tool for business buyers. The Service analyzes uploaded documents (such as CIMs, teasers, and financial summaries) and listing URLs using artificial intelligence to extract data, score deals, identify potential risks, research industries, and generate deal memos.

2. AI-Generated Output Disclaimer

All analysis, scores, red flags, industry research, deal memos, and other output produced by the Service are generated by artificial intelligence and are provided for informational purposes only.

You acknowledge and agree that:

  • The Service does not provide investment advice, financial advice, legal advice, or any recommendation to acquire, pass on, or take any action regarding any business or transaction.
  • AI-generated output may contain errors, inaccuracies, omissions, or hallucinations. Scores, financial extractions, red flag assessments, and industry research may be incorrect or incomplete.
  • You are solely responsible for independently verifying all information, data, and analysis before making any business or investment decisions.
  • No fiduciary, advisory, or professional relationship is created between you and Turnstone by your use of the Service.
  • The Service is a screening tool intended to accelerate initial evaluation, not to replace professional due diligence, legal counsel, financial advisors, or your own independent judgment.

3. Document Upload and Confidentiality

You may upload confidential documents (including CIMs and financial summaries) to the Service for analysis. You represent and warrant that:

  • You have the legal right to upload and process each document you submit, including any rights required under applicable non-disclosure agreements (NDAs) or confidentiality obligations.
  • You are responsible for complying with any confidentiality obligations you have to brokers, sellers, or other parties regarding the documents you upload.

We process uploaded documents using third-party AI services (currently Anthropic's Claude API). Documents are transmitted to Anthropic's API for analysis. Per Anthropic's API terms, content submitted through their API is not used to train their AI models. We do not sell, share, or distribute your uploaded documents to any other third party. See our Privacy Policy for full details on data handling.

4. Accounts and Eligibility

You must create an account to use the Service. You agree to provide accurate information and maintain the security of your account credentials. You are responsible for all activity under your account. The Service is intended for use by business professionals evaluating acquisition targets. You must be at least 18 years of age to use the Service.

5. Pricing and Payment

The Service offers a free tier (7 lifetime deal screens) and a paid Pro tier. Pro pricing consists of a monthly base subscription fee plus a per-screen usage charge. Current pricing is displayed on our website and within the application.

  • Free tier: 7 lifetime deal screens (not monthly). Includes PDF upload, URL screening, pipeline access, and LBO/waterfall models.
  • Pro tier: Monthly base fee plus $0.50 per screen. Includes email ingestion, PDF export, shareable links, and full settings. Introductory pricing may apply for an initial period, after which the base fee increases to the standard rate.

Per-screen charges are incurred when a screening is successfully completed and are non-refundable, as the underlying AI processing cost is incurred at that time. You may cancel your Pro subscription at any time through the billing portal. Cancellation takes effect at the end of the current billing period, after which your account reverts to the free tier.

We reserve the right to change pricing with 30 days' notice. Price changes do not apply retroactively to the current billing period.

6. Shared Deal Links

The Service allows Pro users to create shareable links to deal screening results, optionally protected with a password. You are solely responsible for determining who receives shared links and for any consequences of sharing deal information. We are not responsible for unauthorized access to shared links, including if you share passwords insecurely or with unintended recipients.

7. Acceptable Use

You agree not to:

  • Use the Service for any unlawful purpose or in violation of any applicable laws or regulations.
  • Scrape, crawl, or use automated tools to extract data from the Service beyond normal use of the API.
  • Reverse engineer, decompile, or attempt to extract the source code, AI prompts, or scoring algorithms of the Service.
  • Use the Service to build a competing product or to resell the output of the Service commercially.
  • Upload malicious files, attempt to overload the system, or interfere with other users' access to the Service.
  • Share your account credentials or allow multiple individuals to use a single account.

8. Intellectual Property

The Service, including its software, design, scoring frameworks, and AI prompts, is owned by Turnstone and protected by applicable intellectual property laws. Your use of the Service does not grant you any ownership rights in the Service.

You retain ownership of all documents you upload. AI-generated screening results (scores, memos, analysis) produced for your account are licensed to you for your internal business use.

9. Service Availability

We strive to maintain reliable service but do not guarantee uninterrupted access. The Service may be temporarily unavailable due to maintenance, updates, API rate limits, or third-party service outages (including AI provider outages). Screening operations may fail or take longer than expected due to API rate limits or processing constraints. We are not liable for delays, failures, or interruptions in the Service.

10. Limitation of Liability

To the maximum extent permitted by law, Turnstone and its officers, directors, employees, and agents shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to loss of profits, loss of deals, loss of business opportunities, or damages arising from reliance on AI-generated analysis, whether based on warranty, contract, tort, or any other legal theory.

Our total aggregate liability for any claims arising from or related to your use of the Service shall not exceed the total amount you paid to Turnstone in the twelve (12) months preceding the claim.

You acknowledge that the Service provides AI-generated screening output that may be inaccurate, and you assume all risk associated with using such output for business decisions. This limitation applies regardless of whether we have been advised of the possibility of such damages.

11. Indemnification

You agree to indemnify and hold harmless Turnstone from any claims, damages, losses, or expenses (including reasonable legal fees) arising from: (a) your use of the Service; (b) your reliance on AI-generated output for business or investment decisions; (c) your violation of these Terms; (d) your breach of any confidentiality obligations related to documents you upload; or (e) your sharing of deal information through shared links.

12. Account Termination

We may suspend or terminate your account if you violate these Terms, engage in abusive behavior, or if required by law. Upon termination, your access to the Service ceases. We may retain your data for a reasonable period in accordance with our Privacy Policy. You may request deletion of your account and associated data by contacting us.

13. Modifications to Terms

We may update these Terms from time to time. Material changes will be communicated via email or in-app notification at least 14 days before taking effect. Continued use of the Service after changes take effect constitutes acceptance of the updated Terms. If you disagree with changes, you may cancel your account.

14. Governing Law and Disputes

These Terms are governed by the laws of the State of Delaware, without regard to conflict of law principles. Any disputes arising from these Terms or your use of the Service shall be resolved through binding arbitration in accordance with the rules of the American Arbitration Association, except that either party may seek injunctive relief in any court of competent jurisdiction.

15. Contact

For questions about these Terms, contact us at support@turnstone.app.

Home Insights Public Markets Analyst Terms of Service Privacy Policy Contact

© 2026 Turnstone