Check out the pitch deck a serial founder used to raise $10 million from Stripe for cap table management startup Pulley
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- Cap table management startup Pulley has just raised $10 million in a funding round led by Stripe.
- Founded last year, Pulley provides tools to help companies model dilution in future rounds and helps employees understand the value of their equity as the company grows.
- “Fundraising rounds are becoming more complicated and it’s harder for founders to understand how much of their business they are giving away,” Yin Wu, Pulley’s founder and CEO, said.
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Cap table management startup Pulley has just raised $10 million in a funding round led by Stripe.
Founded in 2019, Pulley provides tools to help companies model dilution in future rounds and helps employees understand the value of their equity as the company grows.
Pulley soft-launched in January this year and is led by serial founder Yin Wu, who sold a previous business, Double Labs, to Microsoft.
“Fundraising rounds are becoming more complicated and it’s harder for founders to understand how much of their business they are giving away,” Wu told Business Insider. “In addition, the founders who need this most are those most likely to be less savvy with Silicon Valley culture including minorities, women, and academics.”
Pulley is being used by more than 600 startups already to help manage their cap tables, including fast growing companies like Clubhouse and Fast. Some 50% of Y Combinator’s 2020 cohort use the platform, according to Wu.
Better tools to manage business are not just helpful for founders but also help entice prospective employees. Wu said that startups battling for top talent against heavyweights like Facebook and Google need to be able to explain the value of equity options to applicants.
The fundraising initially began as a seed round but soon became a Series A when it closed at the end of January this year. The funding process “doesn’t get easier but you get more familiar with it,” according to Wu.
“Stride shares our mission of wanting more startup founders and they understand the challenges,” she added.
Pulley has to get things right first time, Wu said. The company has spent the bulk of 2020 perfecting its product and hiring team members with the funding used to scale both its employee list and marketing team.
Additional investors in the funding round included Caffeinated Capital, General Catalyst, 8VC, and angel investors such as Elad Gil, Avichal Garg, Parker Conrad, Jack Altman, Kathleen Estreich, Linda Xie, Matt MacInnis, and Jeannette zu Fürstenberg (who is also a partner at Berlin-based fund La Famiglia).
Check out Pulley’s pitch deck below: