Cap table platform Pulley shuts down and pivots users to Carta

Founded in 2020 by former Microsoft engineer Yin Wu, the platform aimed to streamline equity management for startups. Despite securing significant venture capital and positioning itself as a challenger to Carta’s dominance, the company failed to gain enough traction to sustain independent operations. Wu did not provide a specific reason for the closure, leaving the industry to speculate on the difficulties of displacing entrenched manual processes.

Some industry observers suggest Pulley struggled because it was competing less with Carta and more with the simplicity of spreadsheets, which have become increasingly sophisticated through AI integration. In a parting message on LinkedIn, Wu expressed gratitude to her team and investors while signaling that she intends to remain active in the startup ecosystem. The transition agreement with Carta marks a quiet end for a company that was once viewed as the most promising alternative to the sector's long-standing leader.