Pulley Shuts Down Cap Table Platform and Sends Customers to Rival Carta

Cap table management startup Pulley is shutting down after five years of operation and will end its services on Dec. 8. The company said it has partnered with rival Carta to help transition existing customers and is directing new customers to the competing platform.

Yin Wu, a former Microsoft employee and serial entrepreneur, founded Pulley in 2020. The company raised more than $50 million from investors including General Catalyst, Stripe, and Founders Fund while building tools to help startups manage ownership records and equity information.

Pulley partners with Carta during shutdown

The company did not provide a specific reason for ending operations. In an announcement shared on LinkedIn, Wu thanked employees and investors while saying she and members of the team plan to continue working on new challenges.

Pulley’s shutdown comes as startups increasingly look at different ways to manage ownership data. A former employee suggested online that the company’s competition was not only with Carta but also with spreadsheets, which have become easier to maintain with the help of AI tools.

While Pulley built a customer base among startups and raised significant venture funding, the company will now move customers toward Carta as it closes its platform. Carta remains one of the major providers in the cap table management market.