Pulley's Series B - Welcome Founders Fund!

Pulley announces $40m Series B led by Founders Fund and offers resources to startups navigating the downturn

By Yin Wu, Co-Founder & CEO

We’re thrilled to announce Pulley’s $40 million Series B led by Keith Rabois at Founders Fund. Keith is joining our board of directors and bringing his deep operational experience as a founder (Opendoor, OpenStore), executive (Square, PayPal, LinkedIn), and investor (DoorDash, Ramp, Faire, and many others).

Existing investors, including Stripe, Elad Gil, Jack Altman, and Avichal Garg, also participated. In addition, we are grateful to the founders and operators who joined this latest round – we are so excited to be building with all of you.

Trying something different

Funding announcements are often boring and self-congratulatory. While we are immensely proud of what our team has built, we wanted to try something different with our announcement. 

Today, we want to reach 10x as many builders and help them navigate their equity in this downturn. Our hope is that any noise around our fundraise gets distribution for the new resources we’re sharing.

Pulley Seed - a free tier for companies in the earliest stages 

Today, we’re excited to announce our free tier, Pulley Seed. With Pulley Seed, new startups can get to the first stage of hiring and fundraising without spending thousands on legal fees. Equity mistakes are expensive and last the lifetime of a company. Our goal is to give builders the tools to make better equity decisions from the start.

How to get started: We work with Atlas and Clerky to make it easy to onboard to Pulley immediately after incorporation. Our team of experts double-checks every new startup’s cap table, and for the remainder of the year, we will waive our standard onboarding fee (timelines may be longer than normal given increased demand).

What you can expect: Pulley Seed helps new startups model and compare different funding scenarios, manage the fundraising process, and grant equity to employees – all at no cost. Legal agreements, including fundraising documents and equity grant agreements for U.S. and international employees (for most common countries), are pre-loaded and fully integrated into the platform.‍

How to navigate the downturn

The fundraising climate has changed drastically in 2022. We are fortunate to have access to great investors, and worked with them to answer the 10 most common questions we’ve been asked about the downturn. 

We address everything from “why is this happening” to “what should I do if my options are underwater”. The caveat is that this is generic advice to get the conversation started. We recommend talking with your tax, finance, and legal advisors for specifics about your company.

Why equity matters

Equity is a company’s most valuable asset. It is the only asset that can 1000x in value. Our team is building the tools to help founders and employees understand, utilize, and substantially grow the value of their equity. 

If this mission resonates, come join us! We are growing our team across many open roles. You might be a fit for Pulley if you agree with our operating principles. ‍

Resources