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Index › Equity and corporate › Cap table management › Pulley vs Ledgy
Cap table management · October 2026 Edition

Pulley vs Ledgy

Two of fourteen models named Pulley first on the direct prompt; zero named Ledgy. Pulley was named by fourteen of the fourteen models and Ledgy by thirteen and Pulley carries 66 labels and Ledgy 39, so the shares are not directly comparable.

Pulley

criticized challenger

Named in two categories this edition.

Ledgy

accepted challenger

Named in two categories this edition.

First-choice share18%2%Of first choices across the direct, paraphrase, budget and scale prompts, 0 to 100.
Negative rate39%5%Negative labels as a share of the product's labels, 0 to 100.
Rank in category#2#6A position in a field of 10; printed, not drawn.
Labels6639A count; the two differ.
The two percentage rows are drawn on one 0 to 100 track, Pulley reading right to left. Rank and label count are printed, not drawn.Carta was named alongside these two in eleven of the fourteen direct answers. Carta vs Pulley · Carta vs Ledgy · Pulley vs Qapita

Share is the count of first choices across the direct, paraphrase, budget and scale prompts over all fourteen 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 fourteen models made each the first choice, per way of asking, and how many argued against it.
PulleyFirst choices, of fourteen modelsLedgy
Direct203 against Pulley
Paraphrase602 against Pulley
Comparative304 against Pulley
Budget-constrained005 against Pulley · 1 against Ledgy
Scale-constrained111 against Pulley
Negative0011 against Pulley · 1 against Ledgy
Bars are first choices, 0 to 14 each sideModels that argued againstA model can name both, so the two sides of a row do not sum to fourteen.

Across every category in the October 2026 Edition, Pulley and Ledgy were named in the same answer eighty-eight times, of the 189 answers naming Pulley and the 109 naming Ledgy. In those answers Ledgy took the first choice one time and Pulley eighteen.

Every model, every framing

The eighty-four answers behind the chart above, one cell each: where Pulley and Ledgy 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
GPT-6 Luna
Muse Glimmer 30B
Pulley Ledgy first choice named as an alternative argued againstblank: not namedEach cell is one answer, Pulley on the left and Ledgy on the right.

The direct prompt

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

Pulley first, Ledgy an alternative

2 of 14 modelsLedgy was named in the answer but not as the choice, or not at all.
DeepSeek V4 FlashCarta, Pulley alternatives: Shareworks
Kimi K2Cake Equity, Pulley alternatives: Eqvista, Ledgy

Neither was the first choice, one was named

9 of 14 modelsThe answer put something else first and named one of the two as an alternative.
Claude Haiku 4.5Qapita alternatives: Cake Equity, Carta, Pulley
GPT-5.4 miniCarta alternatives: Eqvista, Ledgy, Shareworks
Gemini 3.5 FlashCarta alternatives: Ledgy, Mantle, Qapita
Perplexity SonarCarta alternatives: Cake Equity, Pulley, Qapita
Grok 4.1 FastCarta alternatives: Ledgy, Pulley
Mistral SmallQapita alternatives: Ledgy, Pulley
Qwen 3.7 FlashCarta alternatives: Pulley, Qapita, Shareworks
GLM 4.7 FlashXCarta alternatives: Fidelity Private Shares, Pulley, Qapita
Muse Glimmer 30BCarta alternatives: Cake Equity, Ledgy, Qapita

Neither was named

3 of 14 modelsThe answer made no first choice from these two in this category.
Llama 4 Maverickno first choice
MiniMax M2.5Cake Equity, Qapita alternatives: Carta, Shareworks
GPT-6 LunaCarta alternatives: Shareworks

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 twenty-one points.
Pulley21%#3 of 10
Ledgy0%#7 of 10
The full small business standing →
Mid-marketThe figures above
Pulley leads by sixteen points.
Pulley18%#2 of 10
Ledgy2%#6 of 10
The full mid-market standing →
Enterprise
Level: the same share of first choices.
Pulley5%#6 of 11
Ledgy5%#5 of 11
The full enterprise standing →

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.

“Pulley is closing - The platform announced it will cease operations on December 8, 2026 ... If you're considering Pulley, you'll want to evaluate Carta or other alternatives.” MiniMax M2.5 · comparative prompt · hard negative
“Pulley — caution right now because it announced it is shutting down, with final day of operations/services on December 8, 2026.” GPT-5.4 mini · negative prompt · hard negative
“Pulley — avoid for a new setup; migrate if you're already a customer. Pulley has announced it will end operations on December 8, 2026.” GPT-6 Luna · negative prompt · hard negative
“My specific recommendation for most mid-market B2B companies: ... Pulley offers the best balance of capability, price transparency, and ease of use.” DeepSeek V4 Flash · direct prompt · first choice
“Pulley has emerged as the primary challenger to Carta. It is designed specifically for high-growth startups moving through multiple funding rounds.” Qwen 3.7 Flash · comparative prompt · first choice
“Start with Cake Equity or Pulley—both offer the right balance of features” Kimi K2 · direct prompt · first choice

What the models said about Ledgy

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

“Historic data setup can take effort and some users find complex funding round modeling less intuitive” Claude Haiku 4.5 · negative prompt · soft negative
“starts at €75/month, but is often a better fit for European/international companies” GPT-5.4 mini · budget prompt · soft negative
“Shortlist 3–5: Demo Carta, Ledgy, and 1–2 others matching your location/equity needs.” Grok 4.1 Fast · scale prompt · first choice
“these international-first platforms offer superior localized tax and legal compliance automation compared to US-centric platforms” Gemini 3.5 Flash · scale prompt · alternative
“they're flagged more than leaders like Ledgy or Fidelity Private Shares ... For growth, Ledgy (EU/international)” Grok 4.1 Fast · negative prompt · alternative
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.