Pulley, a Carta rival, is shutting down

Pulley, a prominent cap table management platform that competed directly with Carta, has announced it will cease operations in December. The company, which had secured significant backing from high-profile investors including General Catalyst, Stripe, and Founders Fund, failed to sustain its business model in a challenging market environment. Pulley was designed to help startups manage equity, option grants, and shareholder communications, positioning itself as a modern alternative to legacy providers. The shutdown marks a notable exit in the equity management software space, highlighting the difficulties faced by niche B2B SaaS companies in the current venture capital climate. While the platform will remain operational for a limited time to allow for data migration, the closure signals a consolidation in the startup administrative tools sector. Investors and clients are now assessing the impact of the platform's departure on their ongoing equity management workflows.