Founders Fund supports Pulley as it helps companies make smarter equity decisions

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When Yin Wu started Pulley, a capitalization and wealth management startup, back in 2019 it was going to compete with companies like Carta. My colleague Connie Loizos spoke to Wu in 2020 when the company raised $10 million.

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The company provides tools and information for founders and employees who want to make better hiring and fundraising decisions about their property, as well as comply with aspects such as taxes and accounting.

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“Capital is something we keep seeing more and more of,” Wu told TechCrunch. “What matters to us is not so much how we take market share away from partners, but that we think that this market continues to grow, and how can we be a significant part of this? We are building a lot to understand justice. It’s not just about how you record how much equity someone has in the capitalization table, but how do you help someone make decisions about it?

Fast forward 2 years and Pulley, also co-founded by Mark Erdmann, continues to hold its own. The company is currently partnering with over 1,700 companies and has tripled in revenue in the last year.

Additionally, Pulley today announced that it received another $40 million Series B earlier this year. The round was led by Founders Fund’s Keith Rabois and included existing investors such as Stripe and Elad Gil.

He also launched his free plan called Pulley Seed for new customers with fewer than 25 stakeholders. They can model and compare various funding scenarios, raise capital and set employee matching subsidies for free.

Pulley is also helping companies weather this economic downturn, and while most of the companies Pulley works with are in the early stages and don’t see layoffs occurring in the later stages, I asked Wu what questions Pulley was getting from clients. .

“Companies often ask what to do if they have to raise a round down, or what happens when people leave,” she said. “This is really a question for lawyers and accountants. However, we also receive questions about specific equity situations, including whether you are leaving the company. Remember that you have a period of time to go and exercise the options, so make sure you have capital if you want to exercise the options.”

The new investment gives Pulley about $50 million in total funding raised to date. While Wu did not disclose a specific valuation, she said it was a “significant increase” from the company’s valuation in the latest round.

Wu plans to use the new funds to increase Pulley’s 40-person workforce and expand product development and marketing, a new focus for the company, she added.

In addition, the company now has a board of directors, and as part of the investment, Rabua will join the board. Wu explained that Founders Fund shares Pulley’s core belief in helping founders, and she and Erdmann liked that Rabois had the kind of operational experience that allowed him to work with companies at all stages.

“Companies are in a quandary,” Rabua said in a written statement. “Decisions about fairness are harder than ever before, but the tools to manage them are lagging behind. Pulley helps users understand and get the most out of their ownership. There has never been a more urgent moment than now to sort out your capital.”


Credit: techcrunch.com /

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