With Pulley recently announcing the shutdown of its cap table and equity management platform (set to fully wind down operations on December 8, 2026), a lot of early-stage startups, post-seed companies, and finance leads are suddenly forced to re-evaluate their stack.

For context, Pulley was one of the major modern platforms competing directly with legacy players in cap table management, 409A valuations, and stock option issuance. With its exit from the market, thousands of founders now have a hard deadline to offboard, export critical legal records, and migrate to alternative software without messing up their ownership data.

If you are currently affected or managing equity for a growing startup, here are a few key operational steps to handle before the December deadline:

• **Complete Data & History Export: **Don’t just download a basic cap table snapshot. Make sure to export full transaction histories, historical 409A valuation reports, equity grant agreements, board approvals, stakeholder contact lists, and exercise records.

• Audit Ownership Records Before Migrating: Migration is a good opportunity to reconcile any discrepancies between your legal agreements (SAFEs, convertible notes, stock option plans) and your digital cap table before importing them into a new system.

• Verify Compliance Timelines: If you have an upcoming funding round, secondary sale, tax filing (like 83(b) elections), or an expiring 409A valuation, coordinate your migration window so you don’t stall investor due diligence.

For founders, startup operators, and equity leads in the community:

• How is your team handling the migration off Pulley?

• What platforms (Carta, Eqvista, Pulley alternatives, or custom spreadsheets) are you looking into for cap table tracking and valuations?

• Any major pitfalls or headaches you’ve run into during past cap table platform migrations?

Curious to hear how everyone is navigating this.