Quick Answer: Pulley announced in September 2026 that it will shut down and cease operations on December 8, 2026, making the choice of a new cap table provider more immediate for existing customers. Pulley has partnered with Carta to offer eligible customers an assisted transition, but companies can also evaluate alternatives such as Eqvista. Eqvista combines cap table management with in-house 409A valuations, broader valuation services, and support from early stage through Pre-IPO, with a free entry tier and annual 409A plans starting at $990.
With Pulley shutting down, existing customers now need to decide where to manage their cap table and equity going forward. Understanding how Pulley’s offering compares with Eqvista can help companies evaluate which capabilities they want to retain and what they may gain by moving to a different platform. Pulley and Eqvista are two names that have often come up when companies compare cap tables and 409A solutions. For companies that want both equity management and valuation capabilities in one place, Eqvista provides broader coverage. It is a highly-rated cap table software, and its in-house valuation team offers 409A and various other valuations under a transparent pricing model. Pulley, on the other hand, was primarily built around the equity management needs of startups. This article compares Eqvista with Pulley’s offering prior to its announced shutdown across the areas that matter most to companies evaluating their next equity management platform.
Eqvista vs Pulley
The comparison below reflects Pulley’s platform, pricing, and services prior to its announced shutdown. For existing Pulley customers, it provides a useful baseline for comparing what they currently have with what Eqvista offers.
Note: Pulley announced in September 2026 that it will cease operations and services on December 8, 2026. Pulley pricing and feature information below reflects its offering prior to the announced shutdown.
Pulley is more focused on startup equity management. Its structure can make sense for companies primarily looking for cap table functionality. Eqvista is designed to cover a wider range of needs from Seed through Pre-IPO. The main differences in the offerings lie in the pricing and expertise. Eqvista offers unlimited 409A valuations as part of its cap table or 409A valuation annual packages, while Pulley doesn’t. Pulley is offering 409A valuations as an extension of its equity management solution. On the other hand, in addition to 409A valuations, Eqvista’s valuation team handles software & IP valuations, portfolio valuations, QSBS attestations, and gift & estate tax valuations.
Companies Switching From Pulley
With Pulley scheduled to cease operations on December 8, existing customers need to move their equity records to another platform. Pulley has partnered with Carta as its official transition partner, but customers can choose another provider. For companies already using Pulley, switching platforms does not necessarily require a lengthy internal migration project. Eqvista offers white-glove migration with a dedicated migration specialist, with migrations completed in as little as 1–5 business days.
Pulley customers who sign up for Eqvista can get the remainder of their current Pulley term added at no charge and save 30% off their current Pulley invoice. The offer also includes a Year-2 price lock, white-glove migration at no charge, a dedicated migration specialist, unlimited 409A updates, lifetime audit support, and support defending Pulley 409A valuations.
Cap Table Management Compared
Cap table management is the foundation of both platforms. However, the range of equity instruments supported, the depth of the features, and how the platform fits into a company’s broader valuation requirements are all different. Eqvista supports shares, options, warrants, SAFEs, KISS, and convertible instruments. It also supports advanced vesting and real-time updates. Companies can begin with the free tier and upgrade when the need arises. Pulley provides a clean interface with basic features available on its Startup tier. However, its plans use fixed stakeholder limits. The Startup plan supports up to 25 stakeholders, while the Growth plan supports up to 40. These fixed stakeholder limits mean that you must consider upgrading your plan to the custom-priced highest tier sooner than what would otherwise be the case.
For early-stage companies with relatively simple equity structures, either platform can provide the core functionality needed for managing ownership. The choice then comes down to pricing and the availability of more sophisticated tools as the company grows. For companies that expect their equity structure or valuation needs to become more complex, Eqvista provides greater flexibility without requiring the same progression through fixed stakeholder tiers.
409A Valuations Compared
The biggest distinction between the two platforms is how 409A valuations are provided. At Eqvista, you can either purchase a 409A valuation as a one-time engagement or you can subscribe to their packages that include unlimited 409A valuations for 12 months. Subscribing to 409A valuations also unlocks access to Eqvista’s premium cap table package. The price of these 409A packages starts at $990 per year.
Eqvista uses a 100% in-house valuation team. Its analysts include NACVA, CFA, CVA, and IRS Enrolled Agent professionals. The company also provides lifetime audit support. Standard turnaround is 5-10 business days. Expedited valuations start at $490 and can be completed within 1-5 business days. An additional Rapid Response option is available for cases where a turnaround of as little as 24 hours is needed.
Pulley provides 409A valuations on its Growth plan, which starts at $3,500 per year, and the Enterprise plan, which has custom pricing. It doesn’t offer standalone 409A valuations. The information published on the Pulley website does not specify analyst certifications. Pulley states that its 409A valuations can be completed in as little as 3-5 days, although it notes that later-stage companies may require more time. Companies that need to refresh their 409A valuation more frequently, such as after material events or as equity activity increases, may find Eqvista’s unlimited valuation model more economical. Unlike Eqvista, Pulley does not offer standalone 409A valuations, so companies cannot test its valuation service without committing to the Growth plan.
Real-Time Valuation
Eqvista offers Eqvista Real-Time Company Valuation®, an AI-powered fair market value engine available in the cap table dashboard. This is included in the 409A plan and isn’t an add-on. Real-Time Company Valuation® is not a substitute for 409A valuations. Rather, it is meant to help companies maintain visibility into their business value between formal valuations. Pulley does not have an equivalent real-time valuation feature. This creates another distinction between the two platforms. Eqvista provides companies with greater visibility into how their estimated company value evolves between formal valuations instead of only offering a compliance solution.
Pricing Compared
- Pricing is another area where the platforms differ.
- Both platforms offer similar equity management features such as dilution analysis tools, ESOP administration, board approval workflows, and tax filing support. The key difference lies in access to 409A valuations.
- Eqvista’s cap table pricing starts with a free tier for up to 20 stakeholders. Premium plans start at $2 per stakeholder per month. Its 409A valuations start at $990 per year. The pricing structure is designed to scale based on stakeholder count and company stage, without hidden fees.
- Pulley does not offer a free plan. Its Startup tier starts at $1,200 per year. The Growth tier starts at $3,500 per year and includes access to 409A valuations, with additional valuations charged separately.
- Eqvista has stakeholder-based cap table pricing, and companies that issue equity compensation can access the premium software as part of the 409A valuation package.
- Pulley uses annual plan tiers, with 409A access included in Growth and higher tiers, and additional valuations costing extra.
Support and Migration
Support can become particularly important when a company is changing its equity management platform or preparing a valuation for external review. Eqvista provides direct access to cap table specialists and NACVA-certified analysts. Its standard response time is same-day. Companies moving from Pulley can use Eqvista’s white-glove migration service at no charge. A dedicated migration specialist manages the transfer and validation of cap table data, with migrations completed in as little as 1–5 business days. Pulley customers can also get the remainder of their current Pulley term added free, save 30% off their current Pulley invoice, and receive a Year-2 price lock.
What Can Pulley Customers Gain by Moving to Eqvista?
The better platform depends partly on the stage of the company and the role valuation plays in its financial operations.
Pre-Seed
Eqvista’s free tier offers early-stage companies a way to begin managing equity without immediately committing to a paid platform. For former Pulley customers at this stage, Eqvista provides an accessible entry point with a free tier while leaving room to add valuation services as the company grows.
Seed to Series A
As companies move into seed and Series A stages, 409A valuations become more important because the frequency of equity grants increases. This simultaneously raises the complexity of equity management. Eqvista becomes particularly compelling at this stage for companies that need recurring 409A valuations. Its annual 409A packages can include unlimited valuations for 12 months alongside premium cap table management, while its in-house valuation team can support more complex valuation needs as the company grows.
Growth and Later Stage
As companies move toward later stages, equity structures and valuation requirements can become more complex. Eqvista supports a wider range of complex equity instruments. Also, its pricing model works in favor of companies that need frequent 409A valuations. Their valuation team offers financial reporting support, and its investor dashboards can simplify investor reporting. The company also offers liquidity planning and pre-IPO preparation solutions, which become relevant as a startup reaches maturity.
FAQs about Comparing Eqvista vs Pulley
Founders weighing Eqvista against Pulley often ask the following questions.
Is Pulley shutting down?
Yes. Pulley announced in September 2026 that it will cease operations and services on December 8, 2026. The company has partnered with Carta to provide an assisted transition for eligible customers.
Do Pulley customers have to move to Carta?
No. Carta is Pulley’s official transition partner, but Pulley customers can choose another cap table provider.
Can I move from Pulley to Eqvista?
Yes. Eqvista offers white-glove migration for Pulley customers at no charge, including a dedicated migration specialist and the transfer and validation of existing cap table data. Migrations can be completed in as little as 1–5 business days. Pulley customers can also get the remainder of their current Pulley term added free and save 30% off their current Pulley invoice.
Is Eqvista or Pulley better for 409A valuations?
Eqvista works best for companies that want 409A valuations delivered by an in-house valuation team that can also perform broader valuations if needed. It offers standalone 409A valuations, annual packages with unlimited valuations, lifetime audit support, and publicly disclosed analyst credentials. Pulley’s 409A service is tied to its higher-tier equity management plans.
Which platform scales better as a company grows?
Eqvista is better suited to companies that expect their needs to extend beyond basic startup equity management. It combines cap table management with comprehensive valuation support, financial reporting support, and other capabilities that come in handy as companies progress through funding rounds. Pulley is primarily focused on early-stage startup equity management.
Can I use Eqvista for a 409A without using its cap table software?
Yes, you can engage Eqvista for 409A valuations without subscribing to its cap table platform.
Does Pulley have anything like Eqvista Real-Time Company Valuation®?
Pulley currently does not have any feature equivalent to Eqvista’s Real-Time Company Valuation®.
Is switching from Pulley to Eqvista free?
Yes. Eqvista currently offers white-glove migration from Pulley at no charge. The migration offer also includes the remainder of your current Pulley term added free, 30% off your current Pulley invoice, a Year-2 price lock, and a dedicated migration specialist.
How long does it take to migrate from Pulley to Eqvista?
Eqvista says Pulley migrations can be completed in as little as 1–5 business days.
Does a cap table platform replace the need for a valuation provider?
No. Cap table platforms help you track ownership, plan for dilution and exits, and manage equity compensation plans, but they do not eliminate the need for 409A valuations. For companies offering equity compensation, a valuation provider can help you comply with Section 409A requirements.
What happens to my historical cap table data when switching platforms?
Your historical cap table data is replicated on the new platform through a migration process that involves sharing access to the previous cap table and reviewing the cap table on the new platform.
Which platform is better if I expect to raise multiple rounds?
If you expect to raise multiple rounds, you will need economical access to 409A valuations, dilution analysis tools, tax filing support, exit modelling tools, and comprehensive valuation support. At present, Eqvista’s unlimited 409A valuation package, which comes with premium cap table access, is a good fit for such companies.
When does it make sense to switch from a startup-focused cap table platform?
It may make sense to consider switching when your needs extend beyond basic cap table management, such as when you require more frequent or specialized valuations, financial reporting support, more complex equity management, or liquidity planning.
Our Verdict: Eqvista vs Pulley
Pulley built a strong startup-focused equity management platform, but with the company now scheduled to cease operations on December 8, 2026, existing customers need to choose where to manage their equity going forward. For companies evaluating Eqvista as their next platform, the main advantage is the ability to combine cap table management with in-house 409A valuations and broader valuation capabilities. Eqvista’s free entry tier can support early-stage companies, while its unlimited 409A plans, financial reporting support, modeling, and liquidity solutions are designed to support companies as they grow toward Pre-IPO.
For companies already using Pulley, Eqvista’s white-glove migration service is designed to make the transition straightforward, with a dedicated migration specialist and migrations completed in as little as 1–5 business days. The current offer further reduces the cost of switching by adding the remainder of the customer’s Pulley term at no charge, providing 30% off their current Pulley invoice, and locking in Year-2 pricing. Eqvista also includes unlimited 409A updates and lifetime audit support and will support customers in defending their previous Pulley 409A valuations.
For founders managing the broader administrative side of their business, IncParadise provides business formation, registered agent, and compliance services that can complement equity management and valuation platforms such as Eqvista.
