MOUNTAIN VIEW, Calif., Oct. 21, 2020 /PRNewswire/ -- Pulley, the leading cap table management product built for founders, today announced a $10 million Series A led by Stripe. Additional participants in the round included Caffeinated Capital, General Catalyst, 8VC, and many well-regarded angel investors including Elad Gil, Avichal Garg, Parker Conrad, Jack Altman, Kathleen Estreich, Linda Xie, Matt MacInnis, and Jeannette zu Fürstenberg.
Pulley is the only cap table and employee options platform focused on founders and employees. Pulley provides tools to help companies model dilution in future rounds, helps employees understand the value of their equity as the company grows, and makes maintaining equity plans as companies grow much faster and easier.
The company, founded by Yin Wu, has struck a chord with founders. Since soft-launching in January 2020, over 500 startups have chosen Pulley to manage their cap table, including over 50% of Y Combinator companies in 2020. High-growth startups such as Clubhouse, Fast, and others backed by top VC firms use Pulley's automation tools to dramatically reduce the amount of time and money spent on managing their cap table.
The $10 million investment provides Pulley with the resources to hire more quickly and meet the overwhelming demand for Pulley's product.
"It was only after selling my startup to Microsoft that I actually understood all of the nuances with a company's cap table," said Yin Wu. "Pulley helps founders understand and optimize their shares, options, and fundraising from formation to IPO. We believe that more startups should be created and that founder-led companies are more successful in the long term. We are excited to build tools that empower more founders to start companies. We want founders and employees to use Pulley to make informed decisions around their equity by better understanding their company's ownership structure. We are excited to partner with Stripe and to grow our team."
"Stripe's mission is to increase the GDP of the internet, and we want to make it as easy as possible to start and scale internet businesses," said Jordan Angelos, head of corporate development for Stripe. "We are excited to partner with Pulley and help founders manage their cap table so they can stay focused on building transformative companies."
Pulley's mission is to make it easier for anyone to start a company. We believe that more startups should be created and that founder-led companies are more successful in the long term. With Pulley's cap table management tools, companies can better understand and optimize their shares, options, and fundraising for the long run.
Companies can join the waitlist to try Pulley at https://pulley.com
Designers and engineers interested in furthering our mission of helping more founders start companies can apply to work at Pulley by emailing [email protected]