Cap Table Platform Pulley to Shut Down in December

Pulley, a startup that offered cap table management software as a rival to industry leader Carta, has announced it is shutting down, according to a report by TechCrunch published Wednesday.

The company said it plans to close its operations in December, TechCrunch reported, citing Pulley's announcement.

Pulley had positioned itself as an alternative to Carta, providing tools for startups to manage equity, cap tables and related financial documentation. The company had drawn backing from prominent investors including General Catalyst, Stripe and Founders Fund, according to the report.

TechCrunch did not immediately provide additional details on the reasons behind the shutdown or the company's plans for existing customers. Pulley has not issued further public statements beyond the closure announcement cited in the report.

The cap table management sector has seen increased competition in recent years, with Carta remaining the dominant player in the space serving startups and venture-backed companies.