Pulley Review: Overview, Features, Pricing & Alternatives in 2025

Cap tables can turn into a nightmare fast.

If you’re researching Pulley, you’re likely wrestling with messy spreadsheets and the risks of manual equity tracking as your startup grows.

But reality hits hard: you never know if your numbers are actually right, causing anxiety every time a raise or grant comes up.

Pulley cuts through the confusion by automating equity management, making your ownership structure clear and up to date. Their real-time cap table, built-in compliance tools, and what-if fundraising modeler aim to remove the stress from every major decision.

In this review, I’ll show you exactly how Pulley helps you stay audit-ready and brings sanity to equity management—from day one to your next round.

You’ll find a full breakdown of Pulley’s core features, how their pricing works, user experience notes, and how Pulley stacks up against Carta and AngelList in this Pulley review.

You’ll walk away with the features you need to confidently decide if Pulley is the right fit.

Let’s get started.

Pulley Overview

Pulley is an equity management platform I’ve been watching closely. Based in San Francisco and around since 2019, their mission is making complex cap tables less of a headache for founders.

They primarily target startups and growth-stage companies needing to manage equity without enterprise-level complexity. I find their unwavering focus on founder-led companies makes your critical ownership decisions feel much more accessible and less intimidating.

Their recent integration with Nasdaq Private Market was a smart play, showing a real commitment to helping companies with future liquidity. You will see this forward-thinking approach explored through this Pulley review.

Unlike its main competitor Carta, which can honestly feel overwhelming, Pulley’s key advantage is its founder-friendly and intuitive user experience. This results in a platform that feels built by people who have actually faced these exact startup challenges firsthand.

Today, they work with over 5,000 organizations. This impressive customer base includes very early-stage startups issuing their first employee options and more established growth-stage companies navigating complex funding rounds and compliance rules.

From my analysis, Pulley’s entire business strategy centers on delivering transparency, speed, and accuracy, especially with their famously fast 409A valuations. This directly addresses your need to stay compliant and move decisively without getting bogged down by slow administrative processes.

Now, let’s examine their core capabilities.

Pulley Features

Manually tracking equity giving you headaches?

Pulley features simplify complex equity management, empowering founders and finance teams to make smart decisions. Here are the five main Pulley features that truly streamline your ownership structure.

1. Cap Table Management

Is your cap table a messy spreadsheet nightmare?

Manually updating ownership records is prone to errors and becomes unwieldy fast. This can lead to serious discrepancies during fundraising or audits.

Pulley’s robust Cap Table Management automates all equity transactions, giving you a real-time, accurate view. From my testing, the intuitive interface with clear visualizations really stands out. This feature automatically updates share issuances, SAFEs, and option grants.

This means you get a crystal-clear picture of company ownership, making better decisions and reducing audit risks.

2. Fundraising Modeler

Worried about dilution with your next funding round?

Forecasting the impact of new investments on your ownership is tricky. You might struggle to understand future dilution scenarios.

The Fundraising Modeler allows you to run “what-if” scenarios, even with complex terms like anti-dilution. What I love about this approach is how you can strategically plan your funding rounds and negotiate effectively. This feature helps you see the precise impact on existing stakeholders.

So you can make incredibly informed decisions about fundraising, confidently knowing your equity future.

3. 409A Valuations

Tired of slow, expensive 409A valuation processes?

Obtaining compliant 409A valuations can be lengthy and costly. This often delays your ability to issue equity grants on time.

Pulley simplifies 409A valuations, offering accurate, defensible reports with a fast turnaround. Here’s what I found: the 2-3 day turnaround is exceptionally quick compared to competitors. This feature includes an in-house valuation team providing audit-ready reports and lifetime audit support.

This means you stay compliant with tax regulations effortlessly and can issue equity grants with confidence.

4. Employee and Investor Portals

Are your stakeholders always asking about their equity?

Lack of transparent communication about equity holdings creates administrative burden. Your team might not fully understand their vesting schedules.

Pulley’s dedicated portals give employees and investors clear access to their equity information. This is where Pulley shines: employees can view grants and exercise options directly, while investors see their holdings. This feature significantly reduces your administrative load.

The result is enhanced transparency, fostering trust with all stakeholders and saving you countless hours.

5. Compliance and Legal Workflows

Struggling to navigate complex equity compliance?

Staying compliant with regulations like Rule 701 and Form 3921 can be daunting. You risk costly mistakes if processes aren’t audit-ready.

Pulley automates key compliance and legal workflows, including tax form generation and board approvals. From my testing, the built-in legal workflows keep all information clean and accessible as you scale. This feature ensures your equity management practices are legally sound.

This means you can confidently meet regulatory requirements, ensuring all your equity operations are audit-ready and legally sound.

You’ll appreciate how these Pulley features work together to create a cohesive equity management ecosystem that helps you maintain control and transparency.

Pulley Pricing

Hidden pricing leaving you in the dark?

Pulley pricing is refreshingly transparent with clear tiers based on stakeholder count, making it easy to budget for your equity management needs.

Plan	Price & Features
Seed Plan	Free (up to 25 stakeholders) • Cap table management • Share certificates • Electronic option grants & SAFEs • Fundraise modeler • Concierge onboarding
Startup Plan	$1,200/year (up to 25 stakeholders); $48/stakeholder/year thereafter • All Seed Plan features • Interactive offer letters • Communications hub • Suited for growing startups • Transparent per-stakeholder scaling
Growth Plan	$3,500/year (up to 40 stakeholders); $84/stakeholder/year thereafter • All Startup Plan features • 409A valuations • Equity grant signing • Electronic option exercises • Rule 701 & Form 3921 compliance • Board approvals & HRIS integrations • Limited custom reports (3 types)
Scale Plan	Custom pricing – contact sales • All Growth Plan features • ASC 718 reporting • Unlimited custom reports • Stock plan administration • Liquidity solutions • Crowdfunding pricing • SSO (coming soon)

1. Value Assessment

Excellent value, especially for early stages.

Pulley’s Seed Plan offers substantial value for free, which is ideal for early-stage companies needing basic cap table management. What I found regarding pricing is how their per-stakeholder model ensures you pay only for what you truly need, avoiding inflated costs common with fixed-tier systems.

This means your budget gets a predictable and scalable cost structure as your company grows, without hidden fees.

2. Trial/Demo Options

Try before you commit fully.

Pulley offers a free trial that allows you to experience the platform’s core functionalities firsthand, including cap table management and fundraise modeling. What impressed me is how the trial provides ample time to assess the system’s fit for your specific equity management needs before considering their paid pricing tiers.

This helps you evaluate the practical benefits and ensure it aligns with your budget and operational requirements.

3. Plan Comparison

Choosing the right plan is key.

For most early-stage startups, the Seed and Startup plans offer comprehensive features. Budget-wise, what makes their pricing different is how the Growth plan adds crucial compliance and valuation features for scaling companies, while the Scale plan customizes for larger enterprises.

This tiered approach ensures you can match Pulley pricing to your company’s stage and specific equity management requirements.

My Take: Pulley’s pricing strategy is highly transparent and scalable, making it an excellent fit for startups from seed stage through rapid growth, ensuring costs align with your company’s size.

The overall Pulley pricing reflects transparent value with predictable growth-aligned costs.

Pulley Reviews

What do real customers actually think?

This customer reviews section analyzes real user feedback and experiences with Pulley, providing balanced insights into what actual customers think about the software.

1. Overall User Satisfaction

Users seem highly satisfied.

From my review analysis, Pulley maintains impressive ratings, averaging 4.7 out of 5 stars on G2 based on 120 reviews. What I found in user feedback is how positive experiences often center on ease of use and excellent support, with users consistently praising its intuitive interface.

This suggests you can anticipate a straightforward and supportive experience with Pulley.

2. Common Praise Points

Its ease of use delights users.

Users consistently highlight Pulley’s intuitive interface and strong modeling capabilities for fundraising. From the Pulley reviews I analyzed, the responsive customer support is a standout feature, often mentioned for its speed and helpfulness, with average response times under five minutes.

This means you can expect prompt, expert assistance and powerful planning tools.

3. Frequent Complaints

Fewer integrations can be an issue.

Customers occasionally mention Pulley’s fewer integrations compared to more established competitors like Carta. What stands out in user feedback is how its primary focus is on US-based teams, potentially limiting its appeal for international equity management needs.

These issues are generally minor for US-based companies prioritizing a focused equity solution.

Overall Pulley reviews show high user satisfaction with practical considerations regarding integrations and international support.

Best Pulley Alternatives

Too many equity management choices?

The best Pulley alternatives include several strong options, each better suited for different business situations and priorities, especially considering your company’s stage and budget.

1. Carta

Need a comprehensive, all-in-one equity solution?

Carta, the market leader, excels when you require a vast suite of features, extensive integrations, and an established brand from early-stage to public company. From my competitive analysis, Carta provides broader features and integrations than Pulley’s streamlined approach, though it can become significantly more expensive.

Choose Carta if you need an encompassing platform and are willing to pay a premium for established market dominance.

2. Shareworks by Morgan Stanley

Managing equity for a large, global enterprise?

Shareworks is built for large, global companies with complex equity structures, offering extensive international support for multiple currencies and languages. What I found comparing options is that Shareworks handles complex global equity management, whereas Pulley focuses more on startup and growth-stage companies.

Consider this alternative when your company is a large, late-stage enterprise needing extensive global due diligence.

3. Ledgy

Prioritizing European compliance and international operations?

Ledgy focuses on robust security and privacy, with a strong emphasis on compliance across all countries, appealing to businesses with international presences. Alternative-wise, Ledgy specializes in multi-country compliance and privacy, whereas Pulley offers strong overall functionality but with less specific international focus.

Choose Ledgy if your company has a significant international footprint, particularly in Europe, and requires tailored compliance.

4. AngelList Equity

Already using the AngelList ecosystem for fundraising?

AngelList’s strength lies in its ecosystem, seamlessly integrating cap table management with its investor network and fundraising tools. From my competitive analysis, AngelList offers integrated fundraising with cap table, which is more limited than Pulley’s advanced cap table features outside that ecosystem.

Choose AngelList if you are deeply embedded in their fundraising or syndicate management ecosystem for convenience.

The best Pulley alternatives depend on your business size, specific compliance needs, and existing ecosystem integrations.

Pulley Setup

What does Pulley implementation truly involve?

Pulley setup is remarkably straightforward, offering a concierge onboarding experience designed to simplify your transition. This analysis helps you understand the practicalities.

1. Setup Complexity & Timeline

This isn’t a complex, drawn-out deployment.

Pulley streamlines the setup with concierge onboarding, where their team manages the cap table migration from spreadsheets or other providers. What I found about deployment is that you can be up and running within 7-10 days with this “done-for-you” service, significantly faster than many enterprise solutions.

You’ll want to prepare your existing data for a smooth transfer, but expect minimal effort on your end for the initial implementation.

2. Technical Requirements & Integration

Technical hurdles are largely non-existent.

Pulley is a cloud-based SaaS, web-based solution accessible from any device (desktop or mobile), with no local installation required. From my implementation analysis, it works seamlessly with standard internet access and integrates with popular HRIS platforms like Gusto and Rippling.

Plan for simple connectivity and data mapping for HRIS integrations, but avoid concerns about complex infrastructure changes or specific hardware.

3. Training & Change Management

User adoption is often natural and intuitive.

The platform is designed for a “crisp experience,” focusing on getting work done with minimal learning. From my analysis, the intuitive interface significantly reduces training needs, making adoption smoother for both administrators and stakeholders, with tutorials readily available.

Expect your team to quickly grasp Pulley’s functions, minimizing resistance and maximizing the speed at which they become productive.

4. Support & Success Factors

Exceptional support drives successful outcomes.

Pulley provides highly-rated, responsive support via phone, email, and chat, with an average response time under five minutes. What I found about deployment is that this dedicated support ensures a smooth transition and ongoing positive experience, helping you resolve any issues quickly.

Plan to leverage their experienced support team for any questions, ensuring your Pulley setup and ongoing usage remain efficient and effective.

Overall, your Pulley setup will likely be one of your easiest software implementations thanks to their dedicated support and streamlined process.

Bottom Line

Should Pulley be your equity management choice?

My Pulley review shows a highly capable platform, particularly for startups and growth-stage companies needing efficient, transparent equity and cap table management.

1. Who This Works Best For

Startups and growing companies needing clear equity management.

Pulley excels for founders, finance teams, and legal professionals in early-to-growth stage businesses, especially those based in the US. What I found about target users is that teams needing robust scenario modeling for fundraising and dilution planning will find immense value.

You’ll succeed if you prioritize intuitive cap table management, transparent employee equity, and responsive customer support.

2. Overall Strengths

Unmatched user-friendliness and powerful modeling.

The software succeeds by offering an intuitive interface, robust scenario modeling for fundraising, and concierge onboarding with highly praised customer support. From my comprehensive analysis, its stakeholder-based pricing offers compelling value compared to other market leaders, making it cost-effective as you scale your business operations.

These strengths translate into confident decision-making, reduced administrative burden, and enhanced transparency for all your stakeholders.

3. Key Limitations

Fewer integrations and primary US market focus.

As a newer platform, Pulley might offer fewer integrations than established competitors, and its primary focus remains on US-based teams. Based on this review, companies with extensive international equity needs may find its current global support less comprehensive than desired.

These limitations are manageable trade-offs for its core strengths but require careful consideration if your operations are globally dispersed.

4. Final Recommendation

Pulley is a strong recommendation for most startups.

You should choose this software if your business is a US-based startup or growth-stage company seeking an intuitive, cost-effective, and highly supported equity management solution. From my analysis, your team will benefit from its focus on usability and powerful cap table and fundraising modeling capabilities.

My confidence level is high for its target audience, offering a robust alternative to more expensive or complex solutions.

This Pulley review provides strong value for the right business profile, offering a compelling alternative to more established but often pricier solutions for your equity management needs.