Cap table platform Pulley is shutting down
Startup cap table management tool Pulley announced it will cease operations in December and has partnered with rival Carta to take over its customers. The company gave no official reason for the closure.
Cap table management platform Pulley has announced on its website that it is shutting down, with its final day of operations set for December 8. In an unusual move, the company has partnered with its direct rival, Carta, to transfer its customers, and is now redirecting prospective clients to Carta as well.
Pulley was founded in 2020 by Yin Wu, a serial entrepreneur and former Microsoft employee. Since then, the company has raised more than $50 million from leading investors, including General Catalyst, Stripe, and Founders Fund.
No official reason given
Pulley has not publicly explained why it is closing. A former employee speculated online that Pulley was competing less with Carta and more with spreadsheets, noting that startups today can easily use AI to build and maintain their own spreadsheets instead of a dedicated tool.
In a statement on LinkedIn, Wu thanked her team and investors, saying that while this marks the end of one chapter, she and several of the company's strongest team members do not intend to fade away quietly. She added that there has never been a better time to tackle big problems, and thanked everyone who supported the company over the years.
