Why Built Robotics Chose Pulley to Scale With Them

About Built Robotics

Built Robotics is on a mission to make construction faster, cheaper, and safer by turning heavy equipment into fully autonomous robots. Through its Exosystem, an AI upgrade kit that can be installed directly on excavators and other construction machinery, Built Robotics is bringing autonomous technology to some of the most demanding environments in the world: mining infrastructure, data centers, water and irrigation systems, and increasingly, solar energy.

Today, Built Robotics is focused on utility-scale solar, deploying a fleet of pile driving robots that represents the future of how large-scale energy infrastructure gets built. With a lean, 45-person team where everyone wears multiple hats, every tool they rely on has to carry its weight.

The Challenge

Like many startups, Built Robotics began managing its cap table on spreadsheets. As the company grew and raised successive rounds of capital, it moved to Carta. It was an improvement, but ultimately not the right long-term fit.

The friction was subtle but persistent. Options and shares were harder to organize than they should have been. Onboarding new team members to the equity system felt unnecessarily cumbersome. And the data was never fully centralized. Most of the cap table might be clean and current, but there was always some portion living in a separate spreadsheet, creating just enough uncertainty to undermine confidence in the numbers.

As Built Robotics brought in new business operations talent with deeper expertise in compliance, the team conducted a full review of its software stack. The verdict on equity management was clear: they needed a single source of truth. One platform that could handle everything cleanly, stay current without heroic effort, and hold up to the scrutiny of future investors.

Switching to Pulley was a chance to start fresh, configure everything correctly, and finally have a cap table they could trust completely.

The Solution

A Migration That Was Actually Painless

Platform migrations have a reputation for being painful, and Built Robotics had experienced that firsthand with other tools. Payroll providers and HR systems had all required significant time and effort to transition. Pulley was different.

The migration from Carta was remarkably smooth. Employees received a simple onboarding email, followed the steps, and were up and running. The team didn't need to field a wave of support questions or chase down stragglers. Compared to other platform switches the company had navigated, Pulley barely registered as a lift.

A Single Source of Truth, Finally

With everything consolidated into Pulley, Built Robotics had something it hadn't quite had before: complete confidence in its equity data. All records — shares, options, vesting schedules, investor information — lived in one place. The days of wondering whether some piece of the cap table was hiding in a separate file were over.

Reporting and analytics improved meaningfully as well. The team could quickly slice cap table data by share class, investor type, or vesting status and trust that what they were seeing was accurate and complete. For a company that has navigated multiple funding rounds and expects more ahead, that reliability translates directly into smoother due diligence and more confident investor conversations.

A Better Experience for Every Employee

The benefits extended well beyond the finance and operations team. For employees at Built Robotics, Pulley's self-service experience made a meaningful difference.

Employees can log in, view their vesting schedules, understand their equity value, and pull the documents they need for accounting and tax purposes entirely on their own. For a lean team where everyone is stretched across multiple responsibilities, that means fewer ad hoc requests hitting the BizOps team and fewer interruptions for the people managing equity day to day. It's the kind of quiet operational win that compounds over time.

Valuations Built Into the Platform

Built Robotics has also taken advantage of Pulley's 409A valuation services, completing multiple valuations through the platform. Having cap table management and valuation services in the same ecosystem reduces coordination overhead and ensures that the data underlying each valuation is always current and complete.

The Results

Since switching to Pulley, Built Robotics has built an equity program that scales with the company rather than creating drag:

• Single source of truth: All equity data consolidated in one place. No more shadow spreadsheets or data gaps.
• Smooth migration: Transitioned from Carta with minimal disruption to the team or employees.
• Employee self-service: Employees manage their own equity information, reducing operational overhead for the BizOps team.
• Diligence-ready: Cap table data is accurate, current, and easy to share when investors ask.
• Scalable foundation: A platform built to handle increasing complexity as Built Robotics raises more capital and grows.

Built for What Comes Next

For the Built Robotics team, the value of Pulley isn't just about where the company is today. The startup landscape is unpredictable. Funding structures are more varied than ever, liquidity paths are less linear, and the complexity of a cap table only grows with each new round. What matters is having a platform flexible enough to keep up.

Switching equity platforms gets harder as a company matures. The early decision to move to Pulley means Built Robotics is already on a foundation designed to handle whatever comes next — more investors, more complexity, more scrutiny — without having to make a painful transition down the road.

Who Should Be Using Pulley

Built Robotics' advice to other early-stage companies is simple: don't wait. Getting equity management right from the start isn't just good hygiene — it's a competitive advantage. Clean, accurate, auditable cap table data makes fundraising easier, due diligence faster, and investor relationships smoother.