Best Cap Table Management Software for 2025

If you're tracking your company's ownership as it grows, you probably know spreadsheets can get messy. A capitalization table (or cap table) gives you the control you're looking for.

Spreadsheets break down when teams rely on different versions. Not that we’re against spreadsheets (Pulley even offers a free cap table template in Google Sheets), but one small error can impact investor trust, which may slow a deal or even trigger legal problems. 

Cap table management software keeps equity data clean, synced, and easy to share across teams. You see percentages of who owns what, when it changed, and how every choice affects ownership. No guesswork.

Let’s dive into the essentials of choosing the best cap table management software for your business. We’ll cover key solutions like Carta, Pulley, and Ledgy, as well as important features and functionality to consider, management tips, and common questions about cap table management.

• Why you need cap table management software to scale
• 7 best cap table management software tools in 2025
• Key features to look for in a cap table management solution
• How to choose the right cap table software for your startup
• Why Linear's founders switched from Carta to Pulley
• Managing your cap table as you grow
• FAQs about cap table management

Why you need cap table management software to scale

When raising investor funds, speed matters. If investors can’t see clear ownership or how equity changes, they may back out. Good cap table management software shows the full picture so you close fast and with confidence.

The right software solution also helps you make quicker decisions. Need to hire? You can see what’s left in the option pool and how a grant changes the cap table. No digging or guessing—just run the model and decide.

As your company grows, you’ll issue more equity, enter new markets, and get more eyes on your numbers. You need cap table management software that keeps up. It should streamline modeling and track changes without slowing things down.

Legal and compliance teams also save time with automated reports and fewer back-and-forth emails. Cap table management software spots errors early, fits into your workflow, and keeps your cap table current, lowering your compliance risk.

7 best cap table management software tools in 2025

1. Pulley

Pulley cleans up your cap table fast. You can see who owns what, handle 409A valuations without stress, and get tools that match your team’s pace. Furthermore, the software’s Instamigrator feature pulls your data in minutes. No need to start from scratch. You’re ready for audits and investor questions immediately. 

Pulley’s cap table management works for early-stage teams and grows with your company. Pricing is transparent, so you always know the cost.

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Features:

• Real-time scenario models
• 100% Audit-compliant 409A reports
• SAFE templates and legal workflows
• Advanced compliance with ASC-718 support
• Equity breakdowns by dollar value
• Employee dashboards and offer letters
• Fast setup with the Instamigrator
• Tight security and compliance
• Upfront, transparent pricing

Cons:

• May not fully support post-IPO or public companies
• API options may depend on your systems

2. Carta

Carta services run deep, handling equity, taxes, and filings in one system. You can connect it to your tools and manage everything in one place. But setup takes a while, and you need to call for pricing.

See our comparison of Pulley vs. Carta.

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‍Features:

• Equity workflows from start to finish
• Tools for global tax and compliance
• Custom add-ons and system integrations
• Reports ready for audits

Cons:

• No upfront pricing
• Setup can take up to 90 days
• Price increases rapidly with growth

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3. Certent

Certent helps you manage equity and automate reporting while staying connected to payroll and HR systems. You get clean data, faster updates, and less manual work across teams. The platform handles cap tables, stock plans, and grant tracking all in one place. Pricing runs on a subscription, but details aren’t transparent, so plan to reach out and ask.

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Features:

• Payroll and HR system integration
• Equity plan automation
• Grant and option tracking
• Real-time reporting

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Cons:

• No transparent pricing
• Setup can take time
• First-time users may need interface training

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4. Shareworks by Morgan Stanley

Shareworks fits best if you run teams across countries and need global support. It helps you stay on top of rules, equity, and reports in over 170 countries. It leans more toward big firms and can take some time to set up. You also need to contact the company for pricing.

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Features:

• Tools for international compliance
• Support for different currencies and languages
• Financial form support
• Some features run through law firm partners

Cons:

• No upfront pricing
• Slow setup
• May feel hard to use at first

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5. Ledgy

Ledgy helps global teams track equity in one place. It runs cap tables, vesting, and investor reports with real-time updates. You can model rounds, manage grants, and prepare for audits. Pricing is also clear, which helps with planning.

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Features:

• Global equity tools
• Round modeling
• Dashboards for teams and investors
• Reports ready for audits

Cons:

• Limited US tax tools
• US teams may need more setup

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6. Eqvista

Eqvista helps you track equity, manage grants, and stay ready for audits. You get fast access to ownership changes, reports, and investor updates in one place.

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Features:

• Real-time cap table updates
• 409A valuation support
• Shareholder and option tracking
• Scenario modeling tools

Cons:

• Limited integration with payroll tools
• May need manual input for complex grants
• Interface can feel dated compared to newer tools

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7. Cake Equity

Cake Equity keeps cap table management simple. You can track ownership, issue grants, and keep investors updated. You can also use scenario tools to model rounds and plan ahead. Pricing is also transparent, so there are no surprises.

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Features:

• Cap table tracking
• Grant issuance
• Scenario modeling
• Dashboards for investors and employees

Cons:

• Limited tax tools
• May not fit larger global teams

Key features to look for in a cap table management solution

The best cap table management software keeps everything clean and up to date. No version mix-ups or last-minute fixes, and you can get real-time updates all in one place. 

The software also helps you issue equity, model rounds, and protect ownership as you grow. In short, it gives you the tools you need to make clear, fast decisions, with nothing extra to slow you down. Here's what we recommend searching for:

• Transparent pricing that scales. Know your cost upfront, with pricing that adjusts reasonably as your team grows.
• Workflow integration. Syncs with your payroll, legal, and HR tools to cut down manual steps.
• Accurate employee equity management. Issue and track grants in one place without the need for third-party tools.
• Support for different vesting schedules. Set up your own time-based, back-weighted, or milestone-based vesting without doing extra work.
• Custom forms and legal documents. Manage IRS Form 3921, spousal agreements, and legal templates.
• Clear employee views. Help your team members understand what they own, when it vests, and how it grows with a user-friendly interface.
• Onboarding and support. Get live help when needed, with guidance through setup and changes.

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The best cap table management platform helps you issue equity, model rounds, and protect ownership as you grow. In short, it gives you the tools you need to make clear, fast decisions, with nothing extra to slow you down.

How to choose the right cap table software for your startup

Leading finance teams or running a high-growth startup requires a cap table solution that scales with your goals. Missing a single update may lower employee confidence or make funding rounds harder in the future. The right system gives you a clear, defensible ownership record by tracking changes and supporting audits.

Assess your business needs

Not every startup needs every feature. For example, if you’re not close to a liquidity event, tools like waterfall modeling won't help much. The best software fits your equity plan—not someone else’s. 

A simple setup uses simple tools. Make sure your employees and legal teams can navigate it without friction. Pick a platform that includes much of what you need in the base price.

Plan for future growth

Think about scale from the start. You need software that runs payout models, tracks changes, and helps you prep for an IPO or sale. It should keep up as your team grows—without slowing you down or increasing costs.

Consider jurisdiction

Some tools work better in certain locations. If you work in more than one country, make sure the tool handles local rules, tax forms, and equity types. What works in the US may not work in Europe.

Evaluate security and transparency

Equity data needs clear controls. Your software should protect your info, back it up, and let users see only what they need. 

In a 2023 G2 survey, B2B and B2C reviewers said they care most about price transparency and data accuracy. If you feel the same, consider a tool with clear, upfront pricing to ease your journey. 

Why Linear's founders switched from Carta to Pulley

Linear needed cap table management that kept up with growth, cleaned up equity data, and cut time spent on fixes. Carta worked early on, but as the company scaled, the team needed more control and faster help. After concerns came up about Carta’s credibility, Linear looked at other options.

Pulley made the switch simple, taking just days rather than months. Costs fell, the number of issues dropped, data synced fast, and records remained clean. Pulley’s support team jumped in when needed.

For Linear’s finance team, the biggest shift was accuracy (no more double-checks). Pulley gave them real-time views, automated grants, and audit-ready reports.

Linear’s move to Pulley helped clear up old records, lower overhead, and keep investors confident. Most of all, it gave the team time back to focus on decisions, not spreadsheets. For growing companies, a shift like that matters.

Read our Linear customer case study to learn more.

Managing your cap table as you grow

Look for tools that simplify equity, support onboarding, and help with issuing stock options and raising venture capital without friction. Clear pricing, responsive support, and workflows that scale as you grow are also essential when managing your cap table.

You also need to keep equity clean and your team moving. Pulley tracks ownership, models rounds, and keeps you audit-ready—without the manual work. See how it works and book a demo today.

FAQs about cap table management

Why is cap table software better than spreadsheets?

Spreadsheets break easily, since multiple versions and equity math get messy fast. Cap table software keeps everything accurate, synced, and audit-ready.

What can Pulley offer startups that Carta can’t?

Along with upfront pricing, early-stage team support, and fast onboarding, Pulley also offers full control over share classes and modeling tools. 

Pulley shows you how fundraising affects ownership before you close and lets you preview equity dilution with just a few clicks; meanwhile, Carta offers only basic tracking, gives static reports after you close, and limits scenario planning.

What is a cap table?

Think of your cap table as the ownership map of your company. It details who holds shares, including founders, various investors, employees with stock, and private equity partners. As your company matures and secures more funding, the cap table will reflect these additions.

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