Finance AI Index
Index Equity and corporate Cap table management › Carta vs Pulley
Cap table management · September 2026 Edition

Carta vs Pulley

Eleven of twelve models named Carta first on the direct prompt; one named Pulley. Both were named by all twelve models and Carta carries 65 labels and Pulley 56, so the shares are not directly comparable.

Carta

endorsed leader

Named in three categories this edition.

Pulley

criticized challenger

Named in three categories this edition.

First-choice share44%8%Of first choices across the direct, paraphrase, budget and scale prompts, 0 to 100.
Negative rate22%30%Negative labels as a share of the product's labels, 0 to 100.
Rank in category#1#4A position in a field of 8; printed, not drawn.
Labels6556A count; the two differ.
The two percentage rows are drawn on one 0 to 100 track, Carta reading right to left. Rank and label count are printed, not drawn.Qapita was named alongside these two in eight of the twelve direct answers. Carta vs Qapita · Carta vs Eqvista · Carta vs Cake Equity

Share is the count of first choices across the direct, paraphrase, budget and scale prompts over all twelve models, for a mid-market B2B company; rank is within the category; every quote names the model and the prompt it came from. Both figures come from the cap table management page.

By framing

How many of the twelve models made each the first choice, per way of asking, and how many argued against it.
CartaFirst choices, of twelve modelsPulley
Direct1111 against Carta · 2 against Pulley
Paraphrase611 against Pulley
Comparative1233 against Pulley
Budget-constrained423 against Carta · 3 against Pulley
Scale-constrained511 against Pulley
Negative0110 against Carta · 7 against Pulley
Bars are first choices, 0 to 12 each sideModels that argued againstA model can name both, so the two sides of a row do not sum to twelve.

Across every category in the September 2026 Edition, Carta and Pulley were named in the same answer 161 times, of the 230 answers naming Carta and the 168 naming Pulley. In those answers Pulley took the first choice twenty-seven times and Carta fifty.

Every model, every framing

The seventy-two answers behind the chart above, one cell each: where Carta and Pulley stood in it.
ModelDirectParaphraseComparativeBudget-constrainedScale-constrainedNegative
Claude Haiku 4.5
GPT-5.4 mini
Gemini 3.5 Flash
Perplexity Sonar
Grok 4.1 Fast
Mistral Small
DeepSeek V4 Flash
Llama 4 Maverick
Qwen 3.7 Flash
Kimi K2
GLM 4.7 FlashX
MiniMax M2.5
Carta Pulley first choice named as an alternative argued againstblank: not namedEach cell is one answer, Carta on the left and Pulley on the right.

The direct prompt

The plain question, one answer per model, grouped by where Carta and Pulley stood in it.

Both were the first choice

1 of 12 modelsThe answer named them together, and the judge labeled each a first choice.
Llama 4 MaverickCarta, Pulley, Qapita

Carta first, Pulley an alternative

10 of 12 modelsPulley was named in the answer but not as the choice, or not at all.
Claude Haiku 4.5Carta alternatives: Cake Equity, Pulley, Qapita
GPT-5.4 miniCarta alternatives: Eqvista, Ledgy, Shareworks
Gemini 3.5 FlashCarta alternatives: ClosingWell, Ledgy, Pulley, Qapita
Perplexity SonarCarta alternatives: Qapita
Grok 4.1 FastCarta alternatives: Ledgy, Pulley
Mistral SmallCarta, Qapita
DeepSeek V4 FlashCarta, Qapita alternatives: Ledgy
Qwen 3.7 FlashCarta alternatives: Pulley, Qapita
Kimi K2Carta alternatives: Cake Equity, Eqvista, Ledgy, Pulley
MiniMax M2.5Carta, Shareworks alternatives: EquityZen, Ledgy

Neither was the first choice, one was named

1 of 12 modelsThe answer put something else first and named one of the two as an alternative.
GLM 4.7 FlashXQapita alternatives: Cake Equity, Capshare, Mantle, Pulley

Bold names in an answer are the products the judge labeled a first choice; a model naming several gives each of them that label. The full answer text for every row is in the record.

By buyer segment

The same question asked on behalf of a different buyer. Each standing is computed within its segment and they are never added together. The figures above are the mid-market standing, which is the one the category orders by.
Small business
Pulley leads by fourteen points.
Pulley30%#1 of 6
Carta16%#4 of 6
The full small business standing →
Mid-marketThe figures above
The order flips: Carta leads at mid-market.
Carta44%#1 of 8
Pulley8%#4 of 8
The full mid-market standing →
Enterprise
Carta leads by thirty points.
Carta34%#1 of 9
Pulley5%#5 of 9
The full enterprise standing →

What the models said about Carta

Every negative label with a quote, up to three, then the highest-weighted positives, up to three. Six of seven in this category shown.

“Skip enterprise tools like Carta's paid plans (Build/Grow can run $3,000–$12,000/year” DeepSeek V4 Flash · budget prompt · hard negative
“Several industry voices explicitly recommend *not* working with Carta.” Kimi K2 · negative prompt · hard negative
“Avoid Carta for core trust reasons” DeepSeek V4 Flash · negative prompt · hard negative
“Carta (Scale/Enterprise Tier): The institutional default... highly capable for late-stage secondary transactions, but it is also the most expensive and has faced scrutiny over aggressive pricing hikes.” Gemini 3.5 Flash · scale prompt · first choice
“The industry standard... the platform that virtually every institutional investor, auditor, and law firm recognizes as the *authoritative* equity record.” DeepSeek V4 Flash · comparative prompt · first choice
“Institutional trust & full compliance depth | Carta... you'll likely end up there for credibility and compliance depth despite the cost” DeepSeek V4 Flash · direct prompt · first choice

What the models said about Pulley

Every negative label with a quote, up to three, then the highest-weighted positives, up to three. Six of eight in this category shown.

“When to avoid: Immediately if considering now—migrate risks data loss or disruption... obsolete.” Grok 4.1 Fast · negative prompt · hard negative
“you should avoid Pulley and look at the following highly rated, cost-effective alternatives” Gemini 3.5 Flash · budget prompt · hard negative
“A notable alternative, but Pulley is now shutting down (announced September 2026)” MiniMax M2.5 · negative prompt · hard negative
“Stick with well-reviewed, scalable platforms like Pulley, AngelList Equity, or Cake Equity for early-stage companies.” Mistral Small · negative prompt · first choice
“### 1. The Modern Disruptor: Pulley ... *Long-term Private/Hypergrowth?* Go with Pulley (best efficiency/UX).” Qwen 3.7 Flash · paraphrase prompt · first choice
“Pulley = best modeling and affordability for early founders, but less institutional weight.” DeepSeek V4 Flash · comparative prompt · first choice
Also compared

Comparisons are drawn for the top eight products in each category, each against each. The output is the models' output; nothing here is a recommendation by the index.