I like that I can model my future fundraise and know exactly what my team and my personal equity will be as a founder. Having certainty in what our equity positions are currently also after any fundraise—no matter the terms—is a major value add.
I don't like the pricing model. It needs to be framed better for smaller companies who raised capital from angels (i.e. lots of small checks) and paying ~$5 PER INVESTOR(/stakeholder) PER MONTH is honestly a lot for the service that is offered. I don't a fair amount of the functionality has been helpful or useful for a smaller startup, and it seems like they are basically able to soak up a lot of VC dollars by getting "50% of YC batches" to use their product, vs building and targeting smaller startups.
Mostly cap table management. Calculating ESOP amounts and requirements for our board is usually fairly difficult and Pulley definitely makes this easy. We have also really liked that we can keep ALL of our equity/options agreements in a single place and to be able to offer equity with certainty to not only our founding team, future hires, but also to our advisors has been a massive value-add.
It's really built for my use case as a founders. It tells me what I need, when I need it. A lot of other providers terrify me, there's a lot of functionality I don't necessarily need (or know I need) and I don't want to pay for it until I do. Pricing reflects, was free for me to do modeling, get notifications for 83b and other tax things. They'd only charge me when my startup matured to the stage where I needed a paid service (like a 409A). Customer onboarding was super easy, functionality is there. Support is lightning fast if you need it. I was an early user, gave feedback and had an almost immediate response. Was apparent when I started and even now that their feature development is through the roof -- they're constantly adding new features :)
None so far. I've had a great experience as an early user -- they've grown as my needs have. Looking forward to seeing the product continue to evolve :)
Tooling is built for founders. So for me, it solved modeling before my round (have a tool for that), recording equity and telling me about my vesting schedule (after we incorporated), and telling me what tax things I needed to file (83b). Also the education was great -- they told me what tools I'd need in the future (409A for hiring our first employee).
We transitioned our Cap Table Management from Carta to Pulley. The transition process was very easy, their support team is incredible, very knowledgeable and prompt to reply. They completely handled our data migration from Cata to Pulley. With our permission, they worked directly with our legal team to make sure everything was accurately represented in Pulley. They have a great UX (very intuitive, easy to make edits, all changes are tracked, bulk imports save a lot of time..) and everything from sales process to customer service to pricing was straightforward and transparent. They are constantly adding great new features. We look forward to additional functionalities. Overall, we are confident that Pulley will be a better partner over the long-term.
There isn't anything we dislike. We are happy customers. We feel in control and are very well taken care of by the Pulley Team.
409A valuations, ability to track dilution. Also, it is incredibly easy to enter data and make edits (while making sure any changes between collaborators are tracked). With Carta, we would have to always contact support or legal if any edits were needed. We feel in control with Pulley!
The customer-focused team is working on understanding what pains exist and how to remedy them. From the product experience to customer support and sales, everyone is responsive and interested in figuring out what provides value.
I wish the fundraising modeler was more powerful and usable. Carta still leads in that regard, but they have stopped innovating in other areas. I trust that Pulley will catch up and outpace. I wonder if how it's priced (per stakeholder) may become an issue at some point (Angel List Stack does that part better).
Cap table management is essential and difficult. Pulley does that well, with reasonable next steps for how to improve. Overall, between Carta, Angel List Stack, and Pulley, I have to choose Pulley.
Super helpful support staff answers questions immediately everytime and always fixes the problem
I've only interacted with the product a half dozen times or so and the dashboard or feature I tried to use didn't work 3 of the times I've used it. It is still feels very early in development and is not as stable as I'd like given the price point equivalent to more stable competitors with the same offerings.
It is a functional cap table managment software
Easy to manage cap table and forecast dilution at each round. Free to use for early stage companies (# of people on cap table dependent), can also do 409A valuations at a reasonable price
Glitchy: downloading the cap table usually is missing founder shares, the SAFE document scanner usually pulls up the wrong values and/or misses terms,
Wanted a way to manage the cap table that was easy. Pulley was that service.
Support is great, the product seems very streamlined, and pricing is fair
Nothing to mention so far - we've been using Pulley for about a year and just used it for our first priced round and subsequent 409A.
We use Pulley to manage our cap table and let our legal team help with this. We've also used Pulley to do a 409a valuation after raising a round of funding.
Helps me convert new hires, explain equity value to employees, as well as manage all of existing equity stakeholders! Excellent usability.
Haven't found any yet. I don't dislike anything.
Employee hiring, value explanations to employees, equity management