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Pulley versus Ledgy
Compare	Pulley	Ledgy
Verdict	Skip	Depends
Best for	Nobody buying new (service ends Dec 2026)	Scale-ups with employee share plans
Who it's not for	Anyone making a new purchase . company ceases operations Dec 8, 2026	Pre-seed startups . a spreadsheet suffices
Privacy	No known public vulnerabilities found in the sources reviewed.^²	No known public vulnerabilities found in the sources reviewed.¹³
Support quality	In-house expert cap table reviews, on-demand managed services	No evidence found in reviewed sources
Public sentiment	A few third parties recommended Pulley for startup cap tables, but independent review data is thin and the company is now shutting down.^⁵	Reviewers generally rate Ledgy well for cap table and equity management but repeatedly flag reporting and export limitations.¹⁴
Biggest gotcha	Service ends 12/8/26; any prepaid annual fees are effectively lost.^²	Reporting/export limits recur in reviews . test your exact reports in a trial.¹⁴

Pick Pulley when

Nobody buying new (service ends Dec 2026)
Historically: pre-IPO US startups
Founders modeling dilution before raises

When Pulley is not a fit

Anyone making a new purchase . company ceases operations Dec 8, 2026
Teams wanting a stable, long-term equity vendor
Buyers mid-switch from Carta or Ledgy
Late-stage companies needing ongoing equity administration

Pick Ledgy when

Scale-ups with employee share plans
Companies unifying equity and exec comp
VC-backed firms managing carried interest

When Ledgy is not a fit

Pre-seed startups . a spreadsheet suffices
Teams needing rich reporting and exports
Funds whose portfolio companies already run Carta

Sources

Pulley homepagepulley.com
official
Pulley security page (shutdown notice)pulley.com
security
Techmeme: Pulley will cease operations after December 8facebook.com
news
Yin Wu on Pulley pricing and switchinglinkedin.com
official
Tyler Richards on recommending Pulleylinkedin.com
review
Mercury: Pulley cap table management overviewmercury.com
review
Pulley pitch deck teardown ($40M Series B)startupfundraising.com
news
Startup AI Tech Stack listing Pulley and Ledgyneweconomies.co
review
Carta best cap table software buying guidecarta.com
review
Cap table audit services comparison (Carta, Ledgy, Pulley)parse.gl
review
Ledgy homepageledgy.com
official
Ledgy executive compensation pageledgy.com
official
Ledgy product security pageledgy.com
security
Ledgy Reviews . G2g2.com
review
Ledgy Software Reviews . Capterracapterra.com
review
Ledgy Software Reviews . Software Advicesoftwareadvice.com
review