Home Funding San Francisco-based startup Pulley raises US$ 10M

San Francisco-based startup Pulley raises US$ 10M

San Francisco-based startup Pulley

San Francisco based Pulley, which provides a platform to help startup founders and employees figure out their equity, raised US$10 million in Series A funding on 21 October 2020. The total funding stands at US$ 10.2M.

The funding round was led by Stripe. Other participants include General Catalyst, Caffeinated Capital, 8VC, Combine and Hustle Fund. We’re working with Y Combinator and angels who are founders including Elad Gil, Avichal Garg, Lawrence Ripsher, Parker Conrad, Kathleen Estreich, Jack Altman, Hunter Horsley, Matt MacInnis, Linda Xie, Hari Raghavan, Jeannette zu Fürstenberg, Vincenzo Iozzo, David King, Nir Dremer, Curtis Spencer, and Rousseau Kazi.

About Pulley

Pulley

Founded in 2019 by Yin Wu, Pulley offers a cap table management product for startups to provide employee and investor equity information and maintain accurate ownership records.

Usually funding is managed in spreadsheets and email, which are error prone transcriptions of legal documents, and static snapshots that quickly become out-of-date. This approach leaves founders and employees confused about who owns what. Pulley solves these problems by providing an easy-to-use cap table management platform. It helps founders, employees, and investors easily track their shares and understand the company’s ownership structure as they hire and raise. Pulley is a platform to track all these equity related changes and keep a company’s equity records up-to-date.

Prior to Pulley, Yin Wu had founded two companies, DIRT – a protocol that allows decentralized curation of trusted data sets and Double Labs, which created the Android app Echo Notification lockscreen. The company was acquired by Microsoft in 2015.

Pulley intends to utilize the new funding to hire, especially remotely and on product development to meet the growing demand. The new funds will also enable the company to make its product publicly available after being in private beta since the beginning of the year.

They have been in invite only mode for the last 8 months and over 500 companies are now using Pulley. Their rapid growth has given them conviction that Pulley is solving a meaningful problem for companies.

About Stripe

Stripe is a global technology company that builds economic infrastructure for the internet. Businesses of every size from new startups to public companies like Salesforce and Facebook use the company’s software to accept online payments and run complex global operations. It combines economic infrastructure with a set of applications for new business models like crowdfunding and marketplaces, fraud prevention, analytics, and more.

What Investors have to say

Jordan Angelos, head of corporate development for Stripe, said “Stripe is excited to partner with Pulley. Stripe’s mission is to increase the GDP of the internet, and we want to make it as easy as possible to start and scale internet businesses.”

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Komal writes about the startup ecosystem on VCBay. She is an Economics Hons. graduate from Miranda House, Delhi University, and is passionate about the world of entrepreneurship and finance.

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