A cap table is a ledger of who owns what, on which terms. A spreadsheet holds it fine until the first option grant, the first SAFE conversion or the first diligence request that asks for every certificate and board consent behind each line. Cap table software earns its fee when those records have to agree with each other.
On the pricing pages checked, cost turns on two things: the number of stakeholders on the ledger and whether a 409A valuation is bundled. The list below sorts seven platforms by those two variables, using what each vendor publishes.
This is general information, not legal or tax advice.
Method
- Stage fit. Whether the vendor’s own plans line up with pre-seed through Series B, judged by stakeholder limits and features such as SAFE and priced-round modeling.
- 409A bundling. Whether a 409A valuation is included in a plan, sold as a published add-on, or not listed.
- Published pricing. Whether the vendor states prices on its own pricing page, and at what stakeholder count.
Checked against each provider’s own pages on November 5, 2026.
Plans and Prices
| Platform | Free tier | Entry paid price | 409A | Stakeholder basis |
|---|---|---|---|---|
| Carta | Launch: up to 25 stakeholders and $1M raised | Not published | Included from the Grow plan | Build up to 50; Grow and Scale flexible |
| Pulley | None listed | $1,200 a year (Startup) | Included in Growth, $3,500 a year | 25 included on Startup, 40 on Growth |
| Cake Equity | Up to 5 stakeholders | $1,000 a year (Build) | Two a year in Team, $2,750; $1,500 add-on otherwise | Priced by stakeholders via quote calculator |
| Eqvista | Under 20 stakeholders | $2 per stakeholder per month | Bundles from $990 a year | Custom above 50 on Premium |
| Ledgy | Launch plan, free | Scale from €5k a year | Valuation add-on, price not listed | Launch capped at 50 (25 elsewhere on the page) |
| Astrella | None listed | $1,200 a year for 0 to 25 stakeholders | Offered, price not on pricing page | Tiers at 25, 100 and 300 |
| Shareworks | None listed | Quote-based | 409A offered for private companies | Not published |
The Platforms
Carta
Included: Cap table management, securities issuance, 83(b) forms, ISO management, SAFE modeling and SAFE closings on every plan, starting with the free Launch plan.
Cost: Launch is free for up to 25 stakeholders and $1M raised. Build, Grow and Scale prices aren’t published; Carta’s plans page routes to sales.
The catch: 409A valuations start at the Grow plan, so a company that outgrows Launch and needs a 409A is buying the third tier at a price it has to request.
Build adds priced-round modeling, deal pro forma and closings, and white-glove onboarding. Grow adds board meetings, Form 3921 and 409A valuations with audit support. Scale adds ASC 718 reporting, Rule 701 management and exit modeling. Carta states it is an SEC-registered transfer agent for US companies.
Pulley
Included: Startup covers the cap table, share certificates, templated SAFE, option and RSA agreements, a fundraise modeler and concierge onboarding.
Cost: $1,200 a year for Startup (first 25 stakeholders) and $3,500 a year for Growth (first 40 stakeholders), per Pulley’s pricing page. Enterprise is quoted.
The catch: There’s no free tier on the pricing page, and the 409A arrives only at the $3,500 tier.
One counting rule helps early companies: Pulley counts angel investors who wrote checks of $50,000 or less as half a stakeholder. Growth adds custom agreements, option exercises, Rule 701, Form 3921, board approvals and HRIS integrations.
Cake Equity
Included: A free cap table for up to 5 stakeholders. Build adds option grants with e-signing. Team and Pro include two 409A valuations a year.
Cost: Build is listed at $1,000 a year and Team at $2,750 a year. Pro is quoted. A 409A can be added to any annual plan for $1,500 a year.
The catch: Cake’s pricing page uses a quote calculator tied to stakeholder count, so the listed figures are starting points rather than fixed prices for a 40-person ledger.
Cake states that managed migration from Carta, Pulley or a spreadsheet is free. Add-ons include QSBS support at $500, an SPV at $500 and stock-based compensation reporting at $500.
Eqvista
Included: A free cap table for fewer than 20 stakeholders with ESOP management, vesting schedules and a data room. Premium adds e-signed certificates and SAFEs, board resolutions, Rule 701, Form 3921 and round and waterfall modeling.
Cost: Premium is $2 per stakeholder per month, with custom pricing above 50 stakeholders. The 409A and Premium bundle runs $990 a year (pre-revenue, pre-funding), $1,290 (friends and family or angel), $1,990 (seed) and $2,590 (Series A), per Eqvista’s pricing page.
The catch: Above 50 stakeholders the published per-seat math stops and pricing becomes custom.
Eqvista is the only platform here that publishes a 409A price by funding stage. For a seed-stage company that needs one valuation a year, that makes the budget line knowable in advance.
Ledgy
Included: The free Launch plan covers cap table management, equity plans and grants, simple vesting, stakeholder dashboards and employee scenarios.
Cost: Launch is free. Scale starts at €5k a year and Enterprise at €18k a year, per Ledgy’s pricing page.
The catch: The same page gives two different free-plan caps: 50 stakeholders in the Launch card and 25 in a separate note. Founders should confirm which applies before building a plan around it.
Ledgy prices in euros and supports IFRS 2, FRS 102 and ASC 718 reporting through a paid financial reporting add-on. Valuation is sold as an add-on without a listed price. That makes it a fit for companies with European operations or employees.
Astrella
Included: Cap table management, round and exit modeling, e-signature, document management, SAFE and warrant tracking, full-service onboarding and ASC 718 reporting on every tier.
Cost: $1,200 a year for 0 to 25 stakeholders, $3,200 for 26 to 100 and $8,200 for 101 to 300, per Astrella’s pricing page. Above 300 is quoted.
The catch: Astrella sells 409A valuations as a product, but the pricing page doesn’t list a 409A price.
Astrella’s tiers are the widest bands in this list. A company growing from 30 to 90 stakeholders stays on the same $3,200 plan. LTSE Equity’s notice to its customers names Astrella as the platform those customers are moving to.
Shareworks (Morgan Stanley at Work)
Included: Equity compensation management for private and public companies, with equity administration, liquidity and 409A valuation listed among Morgan Stanley at Work’s private-company solutions.
Cost: Quote-based. We couldn’t confirm any published prices on the Shareworks page.
The catch: There’s no self-serve plan or published price, so even a small company starts with a sales conversation.
Shareworks services are provided by Morgan Stanley Smith Barney LLC. The platform is designed for both private and public companies, so a company can keep the same system through an IPO.
A Seed-Stage Budget, Worked Out
Assumptions
- Seed-stage C corp, 30 stakeholders (founders, employees, angels).
- Needs one 409A valuation a year.
- Published prices only; "?" means not published.
- Pulley: 10 of the 30 are angels under $50,000, so they count
as 5, giving 25 stakeholders for Pulley's purposes.
Carta Grow plan (409A included) ?
Pulley Startup covers 25 counted stakeholders,
but 409A requires Growth $3,500
Cake Build $1,000 + 409A add-on $1,500 (list) $2,500+
or Team with two 409As (list) $2,750+
Eqvista 409A + Premium bundle, seed tier $1,990
Ledgy Launch (free cap table) + valuation add-on €0 + ?
Astrella 26 to 100 stakeholders, 409A priced separately $3,200 + ?
Shareworks Quote ?
Cake’s “+” marks a listed starting price that can rise with stakeholder count. At this size, the spread between published options runs from $1,990 to $3,500 before anyone asks for a quote.
What Is Not on This List
AngelList was on the original shortlist. Its startups page now says cap table management is only available for companies using its Roll Up Vehicles and Consolidation Vehicles, so it no longer fits a general cap table search.
Before Choosing
The software only records decisions founders have already made. Settle how much equity to give a co-founder and the vesting terms first, and make sure each founder’s 83(b) was filed inside the window covered in the 83(b) election deadline. Founders who incorporated through Atlas or Clerky, compared in Clerky vs Stripe Atlas, should export their formation documents before migrating, so every ledger line has a signed agreement behind it.