This startup tried to take on Carta. It just announced it's shutting down.
Pulley, backed by Stripe and others, shuts down after seven years. Its biggest rival Carta is offering transition help to startups that used Pulley.
Pulley, a software startup aimed at competing with Carta in the cap table management space, announced its shutdown after seven years of existence. Founded in 2019, the company had raised over $50 million from notable investors such as Founders Fund, Stripe, and General Catalyst. Pulley's software is utilized by startups for tracking their funding.
Following a statement published on their website, the company announced it would cease operations on December 8. Despite this closure, Carta has pledged to assist Pulley's customers in transitioning, and will offer them a temporary promotional rate on Carta's platform. The startup's founder, Yin Wu, started Pulley after selling an Android app to Microsoft in 2015.
In a LinkedIn post, Wu expressed her belief that there is no better time to tackle significant challenges. For the immediate future, Pulley is focused on working with Carta's team to care for its customers. The company shared an email with customers explaining their transition plan to ensure a smooth shift to Carta. Customers moving to Carta will retain their current Pulley pricing for the first year, and Carta will credit any unused portion of their Pulley subscription.
Written by urgent.news from Business Insider's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
