Introduction
In the complex landscape of startups and companies, where urgency and industry-specific terminology reign, one tool has emerged as a trusted ally: Pulley. Pulley is an innovative cap table management software designed to simplify the intricate world of equity distribution. In this article, we’re going to delve into the mechanics of Pulley – its features, pros and cons, pricing structure, funding details, top alternatives and also provide an in-depth review.
So, without further ado, heave ho!
What is Pulley Cap Table Management Software?
Pulley is a specialized cap table management software designed to simplify the intricate world of equity management for startups and growing companies. Operating from the United States, Pulley by Prolific Labs Incorporated was founded in 2019. Its vision is to streamline the management of capitalization tables, option grants, and other equity-related tasks. A capitalization table, or cap table, is a critical document for any company with equity stakeholders. It outlines the ownership stakes, including shares, options, and equity grants, and it can quickly become complex as a company grows. Pulley’s software is designed to handle this complexity with efficiency. Pulley offers various pricing tiers catering to different stages of a company, from seed to growth. The features include cap table management, 409A valuations, electronic sending and signing of option grants and SAFEs, fundraising modeling, and more. Pulley also provides support for tax withholdings, membership interests, and custom reporting. By centralizing all equity-related data and processes, Pulley enables businesses to focus on growth.
Who is the founder of Pulley Cap Table Management Software?
The founder of Pulley is Yin Wu. According to TechCrunch, since earning her degree from Stanford in 2011, Yin Wu has embarked on several entrepreneurial endeavors, co-founding various companies. Among these was a computer vision company known as Double Labs, which was subsequently sold to Microsoft. After the acquisition, Wu continued her association with Microsoft, contributing as a software engineer for a couple of years.
Pulley’s Key Features
Here are some of the key features offered by Pulley:
- Cap Table Management: Helps companies maintain and manage a clear and transparent cap table, keeping track of all equity information in one place.
- Fundraising Modeling: Aids in the forecasting and planning of fundraising rounds, assisting companies in understanding the potential impacts of different funding scenarios.
- 409A Valuations: Provides 409A valuations within 5 days, necessary for determining the fair market value of a company’s common stock.
- Employee Experience: Offers a user-friendly platform for employees to monitor their vesting schedule and understand their equity.
- Global Equity Issuance: Supports equity grants for US and international employees, promoting a culture of ownership within the entire team.
- Communication Hub: Lets you create and send customized updates to various company stakeholders such as investors, employees or advisors.
- Compliance Support: Handles equity compliance processes such as 83b elections, form 3921, and stock-based comp reports, making it easier to adhere to necessary regulations.
- Support for Various Ownership Structures: Pulley accommodates various ownership structures including crypto & tokens, private equity, and LLCs.
- Resources & Guides: Provides resources and guides to assist startups in understanding equity and cap table management better.
These features make Pulley a comprehensive tool for handling and managing equity in startups, providing seamless experiences for all stakeholders involved.
Pros
- Robust features for managing cap tables, reducing the need for multiple tools.
- User-friendly interface helps employees understand their equity and vesting schedule.
- Helps with complex compliance tasks, such as 83b elections and form 3921.
- Get a 409A valuation in five days or less.
- Supports several ownership structures, including private equity, LLCs, and crypto & tokens.
- Supports both US and international equity grants.
- Companies with up to 25 stakeholders can use Pulley for free.
- Provides guides and resources to better understand equity and scaling startups.
- Concierge onboarding in 7-10 days for all plans led by cap table experts.
- Fast, experienced and responsive customer support team.
Cons
- The pricing might be a concern for larger companies or rapidly growing startups.
- There can be a learning curve for users who are unfamiliar with equity management.
- Primarily focussed on equity management (it can be an issue if you want multiple services for your business).
- Only supported on SaaS platforms (no Windows, Android, or iOS-specific applications).
Pulley’s Pricing
Pulley offers a variety of pricing plans tailored to different stages and needs of startups, ranging from new and smaller businesses to those experiencing significant growth. Here’s an overview:
- Seed Plan (Free):
- For new customers with fewer than 25 stakeholders and less than $1M raised.
- Includes cap table management, share certificates, electronically sending & signing option grants, SAFEs, fundraising modeling, option and equity templates.
- Startup Plan ($1200/year):
- Suitable for businesses with up to 25 stakeholders.
- Includes everything in the Seed plan. Additional features include concierge onboarding, offer letters, and a communications hub.
- Growth Plan ($3500/year):
- Suitable for businesses with up to 40 stakeholders.
- Includes everything in the Startup plan. Additional features include 409A valuations, replacement for Docusign to issue equity grants, electronic option exercises, Rule 701, Form 3921, board approvals, HRIS integration.
- Custom Plan (Contact for Pricing):
- Tailored solutions to fit specific equity needs.
- Includes everything in the Growth plan plus ASC 718, priority onboarding, phone support, waterfall modeling, and custom reports.
Pulley’s tiered pricing model allows startups to choose a plan that aligns with their growth stage and specific needs. From the free Seed plan geared towards smaller startups, to the fully customizable option for larger companies, Pulley’s pricing structure offers flexibility and scalability. Whether you’re just starting out or looking to manage complex equity structures, Pulley seems to have a plan to fit the bill.
Pulley’s Funding & Investors
According to Crunchbase, Pulley has raised a total of $50.2 million since its inception in 2019. The most recent milestone was the $40 million Series B round in 2022. The round was led by Founders Fund and included existing investors, such as Stripe and Elad Gil.
Pulley’s Alternatives & Competitors
- Carta (Click here to check the comparison between Carta and Pulley)
- Ledgy
- SeedLegals
- Vestd
- Cake Equity
- EquityList
Review of Pulley Cap Table Management Software
Rating: ★★★★☆
Pulley, an equity management software, has swiftly become a notable solution for startups and growing companies. Founded in 2019 and headquartered in the United States, Pulley’s platform is designed to manage cap tables, issue equity, and handle various compliance needs, including 409A valuations and 83b elections. The most striking feature of Pulley is its accessibility to different stages of companies. From the free Seed plan for newer startups to the customizable options for established enterprises, Pulley has managed to encompass a wide range of business needs. The system is intuitive, offering guides and support to both seasoned equity managers and newcomers. Additionally, Pulley’s commitment to transparency and education, especially in employee engagement and investor relations, is commendable. Employees can gain insights into their vesting and ownership, fostering a culture of inclusion. However, pricing might be a concern for larger companies or rapidly growing startups, and some users may find a learning curve if they are unfamiliar with equity management. While these are considerations, they don’t overshadow the overall utility of Pulley. In a world where equity management becomes increasingly complex, Pulley serves as a valuable tool, streamlining processes and ensuring compliance. Its competitive standing in the industry and substantial funding also attest to its potential and efficacy. Pulley represents a modern solution in the equity management space, earning its reputation as an innovative platform.