Cap Table Management

AngelList vs. Pulley
Cap Tables

Equity is your company’s greatest asset, and managing it can be complex and expensive. Compare and choose the equity management platform that is right for your company.

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Top 3 reasons why companies choose AngelList

1

Broader feature set
One-of-a-kind tools that keep your cap table cleaner.

Grant options seamlessly

AngelList comes with RUVs and Rollups, both help companies keep a cleaner cap table.

2

Better pricing
Only pay for team members with equity, not investors.

Brian Nichols

AngelList Equity only charges based on the number of team members. Companies can save thousands per year as a result.

3

A trusted platform
AngelList's platform serves VCs, LPs, and companies.

Cindy Bi

Companies choose AngelList Equity because their investors trust AngelList.

A closer look

Features that help companies make better decisions, automate workflows, and stay compliant—all while saving time and money.

The basics: a 1-to-1 comparison

See how AngelList stacks up against Pulley on these foundational features.

AngelList
Pulley

Cap table management

Cap table management is the process of tracking and managing the ownership and equity of a company, including the allocation and vesting of stock options.

Cap table

Electronic share issuance

Equity grant issuance

Option exercise automation & payments

Option holders can easily exercise options in their stakeholder portals, and AngelList Equity will calculate tax withholdings, generate and sign exercise agreements, and facilitate exercise payments.

Board consents

Investor & employee dashboard

Compliance / 409A Valuation

The method for determining the value of stock options granted to employees as part of their compensation package.

Standard 409A valuation

Standard 409A refreshes for material events

Add-on

409A audit support

External Vendor

Lifetime Audit Defense Not Offered

Complex 409A valuation

Add-on

Add-on

ISO/NSO splits and ISO disqualification check

Account audit reports

Expense reporting (ASC 718)

Does not handle modifications or repricing

Rule 701 management

Equity reporting

The process of disclosing ownership interests in a company through financial statements and other financial disclosures. It provides information on the company's capital structure and the rights and obligations of shareholders.

Capitalization reports with drafts

Equity plan balance report

Rule 701 analysis worksheet

Exercise reports

Scenario modeling

Analyze and predict outcomes based on different assumptions and variables.

Cap Table pro forma generation

Financial transactions

Option exercises and payments

Repurchases

Stock transfers

Tender offers

On request

On request

Shareholder management

Tools for communication, transparent decision-making, and ensuring fair distribution of profits and ownership rights.

Stakeholder Portals

Grant cap table access

Board consents

Employee platform

Investor updates

Investor platform

Liquidity

Easily convert assets into cash without affecting the price. Measure how easily an asset can be bought or sold in the market.

Tender offer platform & account manager

Third-party comparison based on publicly available materials.

The AngelList Difference

AngelList offers several unique features that Pulley simply doesn’t.

AngelList
Pulley

Roll Up Vehicles® (RUVs)

Add multiple investors as a single line on your cap table with RUVs. Startups on AngelList get access to a No-Fee RUV in our Growth + plan.

Advanced ASC 718 Reporting

AngelList offers in-app, automated, and highly customizable ASCC 718 reports. Pulley's ASC 718 does not handle many common terms, including modifications to grants.

Law Firm Portal

Law firms can work more efficiently in AngelList with a dedicated mutli-client portal.

Tie Out Assistant™

Ensure cap table accuracy thanks to automatic AI review of the underlying legal documents.

Increased transparency

Equity admins can always preview exactly what stakeholders see.

Fast migration from Pulley to AngelList

AngelList works with your team and law firm to migrate your cap table from all major cap table software providers. Most companies experience no added legal fees and are live within 1-2 business days.

Cap Table Lookthrough

See the full set of owners behind entities.

Add investors without adding costs

Investors are free. Only pay for team members (founders, employees, advisors with equity on your cap table).

End-to-end SAFE automation

Enjoy a full integrated online SAFE process, from board consent to collecting investor funds and updating the cap table.

Real-time valuation benchmarks

Avoid using stale data in your fundraise. See startup valuation data in real-time.

SAFE Cleanups

SAFE Cleanups™ retroactively clean up the SAFEs already on the cap table so your company get faster equity rounds, and lower administrative costs. Included in the Growth plan.

Third-party comparison based on publicly available materials.

Go beyond with AngelList

A one-of-a-kind startups software solution in a single bundle.

AngelList
Pulley

AngelList Equity

Your cap table as described above.

Included

Separate purchase

AngelList Raise

Close equity rounds.

Included

AngelList People

Compensation benchmarking and visual offer letters.

Included

Separate purchase

Third-party comparison based on publicly available materials.

Avoid compounding costs

Your investors are free with AngelList. Compared to Pulley, you save money directly when migrating and continuously as your company grows.

How it works

Our team offers full-service, expedited onboarding for prior Pulley customers.

1Onboarding/migration
We do all the work of migrating your cap table, no onboarding fees.

If you’re moving from Pulley, choose ”Moving from Pulley”, and our team takes care of the rest.
2Recoup costs
Have some months left on your Pulley subscription?

We’re comp’ing startups for their time remaining on Pulley. For example, if you have 6 months left with Pulley, you will get the first 6 months free on AngelList with our standard annual contract.
3Law firm
Your law firm can initiate the process and complete your migration for you.

Pricing

Plans for every stage

Starter

$1,600

/ year

20 team members included
Investors are free

Free for companies that have raised less than $1M

Apps

Get started

Growth

$3,200

/ year

30 team members included
Investors are free

More than 30? Contact us

Everything in Starter, and:

  • 409A valuation

  • E-sign for equity grants

  • Cap table pro forma generation

  • Option exercise transactions

  • HRIS integration

  • Raise with custom docs (non-YC SAFEs)

  • Clean up your cap table with SAFE Cleanups

  • QSBS reporting

Get started

Growth Plus

$5,600

/ year

30 team members included
Investors are free

More than 30? Contact us

Everything in Growth, and:

Get started

Scale

Contact us

Tailored plans for larger companies
Discounts for multi-year contracts
Investors are free

Everything in Growth plus, and:

  • ASC 718

  • Priority support (phone / slack)

  • Fast-tracked onboarding

  • Early access to new features

Talk to our team

"Team members" does not include investors. It is the sum of founders, employees, advisors/service providers with equity or options.

Prices listed above are not inclusive of applicable state taxes.

In good company

The AngelList platform increases the flow of capital to startups by removing friction for investors.

1,600+

Startups that switched their cap table to AngelList from other providers

$581M

Capital raised by founders on AngelList

$52M

Saved for startups via RUVs

16,809

Investors on AngelList

11,000+

Startups funded

17,337

Investments into unique startups on AngelList since 2014

2,919

Fund managers on AngelList

From the founder community

Follow @AngelList

Have questions or want to
schedule a demo?

Contact Us