Cap Table Platform Pulley Is Shutting Down in December, Redirecting Customers to Rival Carta

Pulley, a cap table management platform, announced in September 2026 that it is closing down, with its final day of operations set for December 8. The company is directing its customers — and prospective clients — to its chief rival, Carta, as part of a wind-down partnership.

Founder Yin Wu, a former Microsoft employee and serial founder, launched Pulley in 2020 and raised more than $50 million from investors including General Catalyst, Stripe, and Founders Fund. The company did not publicly state a reason for the shutdown, and Wu did not immediately respond to a request for comment.

A former employee offered one possible explanation online, suggesting that Pulley’s real competition was not Carta but spreadsheets — and that startups can now use AI tools to manage and maintain those spreadsheets more easily than before.

In a statement posted to LinkedIn, Wu thanked her team and backers. “Though this is the closing of one chapter, I, along with many of our strongest team members, have no intention of riding off quietly into the night,” she wrote. “There has never been a better time to solve big problems.”

The closure marks the end of a well-funded startup that positioned itself as an alternative to Carta in the equity management space. The decision to partner with Carta for customer handoff — rather than seek an acquisition or wind down independently — suggests the two companies reached an arrangement to ease the transition for Pulley’s existing user base.