Every category where a model named Ledgy for a mid-market B2B company. Share is first choices across the direct, paraphrase, budget and scale prompts; rank is within every product named in that category.

Category	Function	Share	Rank	Negative rate	Labels	Quadrant
Cap table management	Equity and corporate	3%	6 of 41	6%	36	accepted challenger
Entity management	Equity and corporate	0%	42 of 87	0%	1	under 10 labels · led by Athennian at 18%

Movement

This is the first edition on this tier, so no move can be computed for Ledgy yet. From the next edition this section shows, per buyer segment, whether its share moved by more than the measured noise floor.

By model

How each model treated Ledgy across every prompt where it was named for a mid-market B2B company. Twelve models, six prompts per category.

Model	First choice	Alternative	Mention	Negative	Labels
Claude Haiku 4.5	0	1	1	0	2
GPT-5.4 mini	0	3	0	0	3
Gemini 3.5 Flash	0	4	0	0	4
Perplexity Sonar	0	2	0	0	2
Grok 4.1 Fast	1	4	0	1	6
Mistral Small	0	1	0	0	1
DeepSeek V4 Flash	0	2	2	1	5
Llama 4 Maverick	0	2	1	0	3
Qwen 3.7 Flash	0	1	0	0	1
Kimi K2	0	2	1	0	3
GLM 4.7 FlashX	0	2	0	0	2
MiniMax M2.5	1	3	1	0	5

By framing

Which of the six questions produced the naming. By model says how often; this says asked what. The first-choice count on the right carries the marks of the models that produced it.

FramingLabels by classFirst choices

Direct18 labelsNone

Paraphrase12 labels1

Comparative35 labels1not counted in share

Budget-constrained10 labelsNone

Scale-constrained16 labels1

Negative13 labelsNone

First choiceAlternativeMentionNegative104 labels in all, every segment counted; 2 of the 3 first choices count toward share, since the comparative and negative framings do not. The bar is one segment per label class, to scale within the framing.

What the models said for it

Verbatim evidence the judge attached to positive labels.

“I'd suggest Carta if you're in the US or Ledgy if you're international/European” MiniMax M2.5 · Cap table management · paraphrase prompt · first choice

“Shortlist 3 (e.g., Carta, Pulley, Ledgy) based on your geography/ESOP needs.” Grok 4.1 Fast · Cap table management · scale prompt · first choice

“If your company is headquartered in Europe, the UK, or APAC, these platforms are highly competitive” Gemini 3.5 Flash · Cap table management · scale prompt · alternative

“Growing in popularity, particularly strong for European companies but expanding in the US.” MiniMax M2.5 · Cap table management · direct prompt · alternative

And against it

Verbatim evidence attached to negative labels. A warning on a product with few labels is a warning; on a product with many, it is one voice among them.

“Avoid for tight budgets: ... Ledgy (€900/year+)” Grok 4.1 Fast · Cap table management · budget prompt · hard negative

“many reviews note that its scenario modeling lacks depth for complex liquidation preferences” DeepSeek V4 Flash · Cap table management · negative prompt · soft negative

Named alongside

The products named in the same answers as Ledgy, over the 104 answers that named it. Took the first choice instead counts the answers where the other product was the first choice and Ledgy was named but was not.

ProductSame answerTook the first choice insteadHead to head

Carta99 of 10449Not in the top three

Pulley85 of 10418Not in the top three

Shareworks59 of 10410Not in the top three

Eqvista56 of 1049Not in the top three

Cake Equity53 of 10411Not in the top three

Qapita37 of 1045Not in the top three

Astrella18 of 1043Not in the top three

Fidelity Private Shares14 of 1040Not in the top three

J.P. Morgan Workplace Solutions13 of 1043Not in the top three

Mantle12 of 1044Not in the top three

A head-to-head page exists where both products are in a category's top three. The other rows are the same fact without a page behind them, so they link to the product instead.

What carried it into the answer

The sites and pages cited by the answers that named Ledgy. A fact about retrieval, not a lever on the model.

Citations exist only for the models that return a source list, four of the twelve in this edition, so these counts come from 91 of the 104 answers that named Ledgy and are not a share of its labels.

Domains cited

cakeequity.com67

guideflow.com53

waveup.com51

qapita.com46

eqvista.com41

valueaddvc.com37

ctacquisitions.com33

worldmetrics.org31

carta.com29

pulley.com28

416 of the 416 domain citations in answers naming Ledgy came from somebody else's page.

Pages cited

cakeequity.com/guides/best-cap-table-software60

waveup.com/blog/best-cap-table-management-software51

guideflow.com/blog/cap-table-management-software49

ctacquisitions.com/best-cap-table-software-202633

qapita.com/blog/best-cap-table-management-software31

valueaddvc.com/blog/best-cap-table-management-tools-in-2026-carta-pulley-angellist-capdesk31

aifundingtracker.com/best-cap-table-management-software26

eqvista.com/cap-table-management-software-startups24

Pages are listed as the models cited them.

Is this your product?

Claim this page

Claiming is free and changes nothing in the data. A claimed page shows a verified contact who is told when each edition publishes and when Ledgy's standing changes by more than the noise floor; the right to propose corrections to the vendor table, meaning names the judge wrote that should or should not read as Ledgy, applied by version and listed in the change log; and a one-line description supplied by the vendor and marked as such.

It does not get any change to labels, shares or verdicts, any preview, or any say over which quotes appear. A verification link goes to your work email; an address at ledgy.com is approved on the spot, any other address is reviewed by hand.

Your name and company appear on the claimed page, or the company alone if you ask below. A title and a LinkedIn address appear there too if you give them, and are left off if you do not. Your email address is never published.