Pulley

Emerging

Startup equity management platform competing with Carta on pricing transparency; covers cap tables, 409A valuations, and secondary transactions for seed-to-B companies.

Accounting Software
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Company Overview

About Pulley

Pulley is an equity management platform helping startups manage cap tables, issue options, run 409A valuations, and handle liquidity events with integrated legal and compliance tools. Founded in 2019 and headquartered in San Francisco, Pulley was built as a modern alternative to Carta, with pricing transparency and founder-friendly policies as core differentiators. The platform covers the full equity lifecycle from incorporation through exit, supporting SAFEs, convertible notes, stock option plans, and secondary transactions.

Business Model & Competitive Advantage

The company raised $60 million in Series B funding in 2022, backed by Founders Fund, 8VC, and Y Combinator, to expand its customer base among seed-to-Series B startups. Pulley has grown by targeting founders frustrated with Carta's pricing increases and contract lock-in, offering free cap table management for companies under a certain size and transparent pricing for all tiers. By 2024-2025, Pulley serves thousands of startups and has become the default recommendation in many YC cohorts.

Competitive Landscape 2025–2026

In 2025, Pulley competes directly with Carta, Shareworks (Morgan Stanley), and Capshare across different market segments. The company has expanded beyond cap table management to offer liquidity programs, allowing employees to sell vested shares in secondary markets, and automated compliance reporting for 83(b) elections and ISO exercises. Pulley's 2025-2026 differentiation strategy includes expanded international support for startups with employees across multiple jurisdictions and AI-assisted equity plan design tools for early-stage founders.

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Key Differentiators

Emerging Innovator

Pulley is an emerging player bringing innovative solutions to the Finance market.

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