Cake undercuts Pulley by $750/year at the 409A-inclusive tier and holds the higher G2 score — but Pulley's free plan covers 5x more stakeholders before you have to pay anything.
Cake Equity and Pulley are both chasing the same customer: a US-based, pre-Series A founder who wants a real cap table without Carta's pricing or complexity. Pulley got there first, backed by Founders Fund since its 2022 Series B, and built its reputation on fast, founder-friendly support. Cake Equity is the newer, leaner challenger — and it has quietly become the top-rated equity management platform on G2, at 4.8/5 across 135+ reviews. (Cake Equity is a Value Add VC sponsor.) Here's how the two actually compare on 2026 pricing and features.
Cake Equity vs Pulley: the side-by-side comparison
| Category | Cake Equity | Pulley |
|---|---|---|
| Free tier | Up to 5 stakeholders | Up to 25 stakeholders |
| Mid tier | $1,000/yr (Build, 25 stakeholders) | $1,200/yr (Startup) |
| 409A-inclusive tier | $2,750/yr (Team, 40 stakeholders) | $3,500/yr (Growth) |
| G2 rating | 4.8/5 (135+ reviews) — #1 in category | Well-reviewed, founder-praised support |
| Market focus | US-based, SAFE through Series A | US-based, pre-seed through Series B |
| Investor default at Series A+ | No — still building brand recognition | Partial — accepted by many, not all, leads |
Sources: published pricing at cakeequity.com and pulley.com, G2 review data, verified September 2026.
Annual cost at the 409A-inclusive tier
Cake's 409A-inclusive Team plan runs 21% cheaper than Pulley's comparable Growth tier
Published vendor pricing, verified September 2026
Where Pulley wins: free-tier headroom
If you're a team of six or more founders and early hires with SAFEs already issued, Pulley's free tier covers you at zero cost — Cake's free tier caps out at 5 stakeholders, which for most startups means the option pool and a couple of hires alone will push you into a paid plan. For a true pre-hire, solo or co-founder-only cap table, the two are roughly equivalent at $0. Past that headcount, Pulley's free plan simply covers more ground before you pay anything.
Where Cake wins: price at the 409A tier, and reviews
Once you need a 409A — which is most companies within their first year, the moment you grant options or price a round — Cake's $2,750/year Team plan undercuts Pulley's $3,500/year Growth plan by $750, a real number at seed-stage burn rates. Cake also currently holds the higher aggregate G2 score in the category: 4.8/5 across 135+ reviews, with the #1 ranking in Implementation, Usability, Results, Momentum, and Relationship for Summer 2026. Reviewers consistently cite the clean employee-facing portal and fast support response times as standout strengths.
Cake Equity vs Pulley: the verdict
Choose Pulley if you already have more than a handful of stakeholders and want to stay on a free plan as long as possible — its 25-stakeholder free tier is the more generous entry point. Choose Cake Equity if you're past that free-tier window and want the cheaper 409A-inclusive bundle, or if G2's top rating in the category — 4.8/5 with the #1 spot in Implementation and Relationship — matters more to you than an incumbent name. Both are US-based and built for the SAFE-through-Series-A range; as with any cap table decision, it's worth a quick check with your lead investor's counsel before you commit if you're heading into a priced round. For the full field of options, see our cap table software ranking, and for the mechanics either platform needs to get right, our cap table playbook.
Latest from the Pulse
Get VC data most people never see
— 100% free
Weekly benchmarks, valuations, and fund data. Join 5,000+ investors. No spam.