Best Equity Management Software: What CFOs Need to Know in 2025

Some founders and CFOs use spreadsheets for cap table management. Manual errors don’t just waste time, they erode your control over the company you're building. One broken formula or outdated entry can stall a fundraising round, delay a key hire, or kill investor confidence during due diligence.

Investors who exercise due diligence expect a clean, accurate view of your equity. Using spreadsheets and legacy tools for things like waterfall modeling, regulatory compliance, and valuations can be a struggle compared to focused modern tools. CFOs and founders who upgrade early on to a cap table platform can minimize stress, errors, and risk.

The best equity management software for startups does more than track ownership. It helps manage your company’s equity plan, models fundraising, and shows the board you’re prepared and in control. It fits your growth and handles messy histories without slowing you down.

Pulley is fast and flexible equity management software built for real outcomes. It brings all your cap table management into one view, with tools that adapt as your business grows. Pulley helps your startup with the hard stuff, like SAFE issuance, scenario forecasting, and building audit-ready reports. That means you get clean records, clear options, and fast answers when investors ask.

Before you decide on a platform, you need to understand why equity management matters. We’ll unpack how to evaluate equity management software and their key features, spotlight the top options, and guide you through the steps to find the best solution for your needs.

We’ll also discuss mastering your equity management and answer some common questions about cap table software.

Why equity management matters

Messy records can lead to mistrust and difficulty securing investors. With an accurate cap table and real-time data, founders can make fair deals, avoid surprises, and ensure compliance. It can also help catch early problems (outdated stock options, missing documents, broken workflows, etc.), which can compound over time to later affect company success. When you can, solve issues as they come up to ease the path ahead.

Implementing and maintaining an equity management solution keeps your team and stakeholders aligned. That means automating updates, tracking equity compensation, and making stock option grants visible across teams. With quick updates and real-time visibility, founders can model outcomes, answer investor questions, and stay audit-ready. You can work faster and maintain sound ownership.

Founders and CFOs don’t need more spreadsheets—they need control. The right equity management solution keeps your data clean and your workflows tight, helping you to see ground truth now and predict what might happen next. It also gives employees clear insight into their equity and founders a way to protect ownership and manage risk. 

Real-time equity management saves time, strengthens trust, and supports decisions when the pressure’s high. When your team sees the numbers and the path, they move faster. That’s really why equity management matters.

How to evaluate equity management platforms and features

Choosing an equity management platform starts with knowing what drives outcomes. Start by examining core functions: employee equity, compliance, fundraising modeling, integrations, and onboarding. You also need cap table management that keeps records clean, eases updates, and scales with you.

Startups often overlook the less glamorous details, like onboarding, liquidity planning, and clean audits. That’s where deals fall apart. Equity tools should handle grant approvals, 409A valuations, and stock plan changes without delays or excessive manual work.

Your board, investors, and team all want visibility. If they can’t see the impact of grants or exits, they lose trust. Look for scenario modeling and integrated waterfall tools that show the real numbers behind each round. Whether your company is in the early stages or pre-IPO, you need to act fast, stay compliant, and reduce friction.

Evaluate how your platform handles complicated or unusual situations. Here are some questions to help you choose:

• Can the software track if an employee leaves early but keeps part of their stock?
• Can it handle your startup if it has multiple funding rounds with different terms?
• Can it adjust if you need to grant stock to international employees with different regulations?

Look for user-friendly tools that simplify and avoid those that hide data or slow approvals. Pick the best cap table management solution that saves you time and empowers your leadership team, not one that slows you down or generates confusion.

7 best equity software solutions

1. Pulley

Pulley makes cap table management clear, tracks ownership, models dilution, and keeps your team aligned. From issuing SAFEs to handling complex terms, Pulley’s tools grow with your company. You can run fundraising scenarios, issue equity, and stay audit-ready with 409A valuations performed in-house to reduce audit risk and delays.

Pulley’s pricing is transparent, so you can see what you’ll pay up front. It offers yearly plans designed for early-stage startups and growing teams, with flexible options that scale as your cap table evolves. There’s also a custom option for companies with more complex needs. If you’re switching from Carta, you can also get a 14-day free trial.

Pulley fits companies that want control without clutter. Avoid missed grants, late filings, or broken models. Founders get clarity, and CFOs get clean records. No fluff, just innovative tools that guide real decisions. Pulley shows who owns what, when it changes, and how it impacts the next raise.

Pros

• Ownership clarity across funding events
• In-house 409A valuations for audit prep
• Transparent pricing with early-stage support

Cons

• Limited global capabilities
• May not fit best for teams without equity plans

2. Carta

Carta offers cap table management for thousands of startups and public companies. It tracks ownership, provides 409A valuations, and supports fundraising rounds. Early-stage teams get starter tools, while growth-stage teams get fundraising modeling, and audit support. However, Carta’s cost might be a tad steep for early-stage companies with limited budgets. There’s no free trial to try out the product beforehand, and some past users also note difficulty cancelling their Carta account.

Carta is a familiar name, so it should be familiar to your investors, board members, and legal team. But while it offers cap equity management support, some users called out potential issues with Carta’s benchmarking data that could result in skewed valuations. 

Additionally, Carta’s 409A valuations also came under scrutiny from valuation experts and the broader finance community, particularly regarding their methodology and audit reliability. Users also flagged a potential data privacy concern where Carta allegedly misused customer data for its secondary trading business.

Pricing is based on your company’s growth and fundraising, so you can’t find actual rates on its website and some users report price increases immediately after raising money. 

Pros

• Name recognition with investors
• Tool access across funding stages
• Report options for audit checks

Cons

• Pricing shifts after new rounds
• Account limits with no trial period
• Concerns raised on data use

3. Ledgy

Ledgy tracks equity, automates document creation, and supports compliance for every growth stage. Early-stage teams get fast onboarding, while growing, pre-IPO companies get audit-ready reports, scenario models, and multi-country support.

Ledgy saves you time with workflows built for scale. It works to keep teams aligned, records clean, and decisions clear, without introducing delays in fundraising or compliance. Employees can see real-time equity, vesting, and value. Ledgy’s pricing is based on usage tiers, but plans start small and grow with team size. 

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Pros

• Record clarity with real-time dashboards
• Team visibility with employee access
• Audit prep with modeling tools

Cons

• Feature jumps between pricing levels
• System limits with usage caps
• Complexity gaps in onboarding scale

4. JP Morgan Workplace Solutions

J.P. Morgan Workplace Solutions tracks investors, manages vesting schedules, and meets compliance goals. The platform supports early-stage needs and scales to serve later stages, with built-in scenario modeling, audit preparation, and reporting.

CFOs can use J.P. Morgan Workplace Solutions to streamline equity management and reduce risk, while founders rely on it to avoid errors that block raises or confuse boards. The platform works when fundraising grows fast and decisions can’t wait. Plans are based on your company’s needs, including a free plan for up to 40 stakeholders and premium and custom plans for larger companies.

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Pros

• Investor coverage with stakeholder tools
• Report access with compliance support
• Growth alignment with scalable plans 

Cons

• No in-house 409A valuations
• Lacks real-time pro forma modeling
• Limited automation compared to other solutions

5. EquityList

EquityList helps startups manage cap tables, issue grants, and track ownership. It also supports US and global compliance, works across stages, and fits teams who need to raise funds fast. But it skips automations other tools include. EquityList also leaves out HR and payroll integrations, which can slow things down. 

Use EquityList to reduce errors while staying clear with investors. It keeps records clean, workflows simple, and decisions fast—even when rounds get complex. Plans start free for up to 25 stakeholders. However, key features like advanced modeling, custom reporting, and compliance tools are gated behind paid plans. Teams scaling quickly may find they need to upgrade sooner than expected.

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Pros

• Share tracking available with grant tools
• Record access for investor clarity
• Global coverage with compliance support

Cons

• Limited automation compared to other solutions
• No payroll or HR integrations

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6. Qapita

Qapita tracks equity, models exits, and supports audits for startups throughout the company lifecycle. Scenario tools, vesting guidelines, and e-signatures are all built in. But Qapita lacks features for more complex modeling. The platform also focuses more on India and Southeast Asia. A new US office opened in California in 2025; however, US-based teams may still need tools built for deeper compliance needs.

Qapita helps CFOs and founders stay audit-ready and fixes errors before they slow down or block companies from getting funding from investors. Qapita works when teams move fast, boards need clarity, and ownership needs to stay clean and accessible through every round. 

Plans start with a free option for teams with up to five shareholders. You can also find transparent pricing for larger teams with up to 25 or 50 shareholders. 

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Pros

• Grants, audits, and exits in one place
• Clean reports for board and investor use
• Pricing and free plans listed by team size 

Cons

• Lacks some features for complex scenario modeling
• Software centers around users in Southeast Asia and India

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7. Certent

Certent tracks ownership, runs reports, and handles filings across stages. It supports self-managed, hybrid, or outsourced equity plans. You get scenario modeling, tax reports, and expense tracking in one place. CFOs can meet SEC deadlines and show clean records before a new round. But admin flexibility is limited—some features require Certent’s support team.

Report formats don’t allow much customization. Users also note delays in support response times. Pricing stays gated and depends on company size. Certent works best when teams know what they need and can plan ahead for slower support and limited controls. And in some cases, you’ll need to sit through a sales call before receiving a quote.

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Pros

• Payroll and HR system integration
• Equity plan automation
• Grant and option tracking

Cons

• Limited admin flexibility
• Limited reporting customizations
• Users report slow customer support responses

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Steps for choosing the right equity management software

Begin with a clear checklist, and use the following steps below to help cut out some of the least essential features and move fast.

1. Determine your scope of needs

Start with what fits your stage. Seed teams (early stage) need simple vesting schedules, ESOPs (employee stock option plans), and clean financial reporting. Growth-stage companies may need tools for multiple rounds, and late-stage companies need access to more complex scenario modeling. 

If you work across borders, you’ll also need audit-ready reports and modeling for global equity, so it’s important to know if the software supports your jurisdiction.

2. Evaluate security and scalability

When your company starts raising money or goes through new funding rounds, your software needs to manage equity events, run financial reporting, and track vesting schedules without delays.

Make sure the platform grows with you. Confirm encryption, role-based access, and daily data backups. Review how 409A valuations work, and ask your software provider how they handle data errors and audit trails. 

3. Compare pricing and support plans

A good management tool cuts manual processes and keeps records clean. Some tools start small but charge more for must-haves like e-signatures or portfolio management. Check how valuations affect price, and ask if support includes audit help or training. 

Pricing matters, but so does the quality of support behind the software. The right plan doesn’t just keep records clean. It saves you from costly mistakes when the stakes are high.

Next steps for mastering equity ownership

You can’t scale equity with just spreadsheets alone—not without errors, significant manual effort, or substantial paralegal expenses. Now that you have a solution that matches your stage and pace, here are some steps you can take for better equity management.

1. Set up your centralized solution

Once you’ve selected a fitting tool for your business, gather your finalized equity plan and essential equity data. Your new solution may come with onboarding and setup services, which can help you get started quickly and smoothly. But if it doesn’t, take the time to carefully input your gathered details.

Essentially, your new equity management software should be set up to work for you—at its very best.

2. Align employee incentives

When employees understand what they own, they stay longer. Use your platform to show vesting schedules, ESOPs, and updates in one place. Make equity ownership clear for your employees, and build trust with numbers they can see and understand.

3. Plan toward future rounds

Use scenario modeling to test how new rounds will shift company ownership. Know how each raise changes your cap table before it happens. Stay ahead of investor questions and avoid dilution surprises or spending on last-minute legal cleanups.

Some finance leaders and teams may not act until errors show up in diligence. At that point, fixing the problems may take longer, cost more, or slow down your fundraising process. Get ahead of the problem. The right equity solution lets you clean up now and stay ready for the next stage.

Explore your options. Run a demo with a software provider. Figure out where your cap table breaks, then fix it. Think of equity as a growth tool, not spreadsheet overload. Use it well, and your team will move faster with fewer mistakes and more clarity in every round.

Equity management software FAQs

What is equity management software?

Equity management software tracks shares, runs valuations, and helps keep your company compliant. It replaces spreadsheets and helps your team avoid errors as funding rounds grow. You can track stock, manage grants, and stay audit-ready in one platform.

Can equity management tools replace legal teams?

Although equity management tools reduce the day-to-day admin, we recommend getting legal advice as needed. The software updates vesting, shows ownership, and runs reports fast while keeping you in control, so you’ll spend less time chasing paperwork.

Is there a free option for early-stage startups?

Many software providers offer free plans or trial periods. Typically, these are for early-stage companies with only a handful of shareholders. As you grow, you may pay based on team size, features, or investor count. Pulley offers a two-week free trial if you're switching from Carta. 

Ready for a demo?

Don’t let the due diligence phase catch you off guard. Pulley helps you manage grants, streamline audits, and scale with confidence. Clean up your cap table, spot gaps early, and move into your next round or exit with clarity.

Book a demo today or start a free trial to see how Pulley brings control and confidence to equity management.