RoundOS vs Pulley: modeling the round vs running it
Pulley models dilution, SAFEs, and cap table outcomes. RoundOS runs the investor work that fills the round you modeled.
Short answer: Pulley is founder-friendly cap table software: manage equity, run 409A valuations, issue SAFEs, and model what a round does to your ownership, all at transparent prices. RoundOS is the system that runs the raise that fills the round: finding, enriching, and prioritizing investors, mapping warm paths, remembering meetings, and drafting founder-voice follow-ups with a daily next-move queue. RoundOS does not manage your cap table, and Pulley does not run your investor pipeline. Pulley does the math of the round. RoundOS does the work of the round.
Pulley's fundraising story is "fundraise modeling," and it is good at it: model dilution, SAFE terms, and exit scenarios, and walk into a meeting with a clear plan. But modeling the round is not running it. You can model forty-seven dilution scenarios and still have zero investors in the pipeline. The model tells you what a round does to your ownership. It cannot tell you which partner to email on Tuesday. That gap is the comparison.
What Pulley does (from its public pages)
Pulley is cap table software built for founders and finance leaders, deliberately not trying to also serve VCs and law firms. Based only on its current site:
- Cap table management. Issue and track equity and tokens, build ESOPs and option plans, with employee and investor portals and HRIS and payroll integration. No spreadsheets.
- 409A valuations. In-house, in three days or less.
- Compliance and reporting. ASC 718, GAAP and IFRS, audit-ready reports.
- Fundraise modeling. Model dilution, SAFEs, and exit scenarios in real time to plan a round before you sign it.
- SAFEs and liquidity. Issue SAFEs without leaving Pulley, and run liquidity programs via Nasdaq Private Market.
- Founder-first stance. Transparent pricing, fast concierge onboarding (around 10 days), and a promise not to monetize your data.
Pricing is public: Startup at $1,200/year (first 25 stakeholders), Growth at $3,500/year (first 40), and Enterprise on request.
Sources: pulley.com · pulley.com/products/cap-table-management. Facts reflect these pages as of June 2026. Pulley is cap table and equity-modeling software; its fundraising features model the math of a round, not the investor outreach.
Pulley is a clean, fairly priced equity platform, and nothing here competes with that. The point is narrow: Pulley models and records the round. It does not fill it.
What RoundOS does
RoundOS is an AI-native fundraising operating system for founder-led rounds. It runs the people side of a raise. You connect an investor list, inbox and calendar context, meeting notes and transcripts, deck context, screenshots, notes, CRM exports, and network exports. RoundOS adds an investor intelligence layer on top.
From your sources, RoundOS enriches the pipeline with fund and person dossiers, contacts across fund roles (partner, principal, analyst), recent news and activity signals, warm-path context, and recommended next moves. It keeps meeting memory, so a conversation from three weeks ago shapes today's follow-up. It drafts context-aware investor messages for you to review and send. On higher-tier plans, RoundOS can actively enrich your pipeline rather than only store what you uploaded.
RoundOS does not manage your cap table, run a 409A, issue a SAFE, or model dilution. It runs the part Pulley cannot: getting the investors who fill the round you modeled.
The math of the round vs the work of the round
| Question | Pulley | RoundOS |
|---|---|---|
| What does this round do to my ownership? | Fundraise modeling, dilution scenarios | Not its job |
| What are the SAFE terms and their impact? | SAFEs, scenario modeling | Not its job |
| What is my 409A and compliance status? | 409A, ASC 718, reporting | Not its job |
| Who is my cap table source of truth? | Yes, cap table platform | Not its job |
| Which investors should I approach, and why now? | Not its job | Investor intelligence and signals |
| Who at the fund do I contact? | Not its job | Partner/principal/analyst contacts |
| What is my warm path in? | Not its job | Warm-path context from your sources |
| What do I say, and what is the next move? | Not its job | Founder-voice drafts and a daily queue |
Read it as planning versus doing. Pulley answers what a round will do to your equity. RoundOS answers how to land the investors that make the round happen.
Where Pulley wins
Be clear and specific.
- Cap table for founders, priced fairly. Transparent plans from $1,200/year, a clean UI, and fast onboarding make Pulley easy to adopt. RoundOS does none of this and should not.
- Fundraise modeling. Dilution, SAFE, and exit scenarios in real time are genuinely useful before you set terms. RoundOS does not model equity math.
- 409A and compliance. In-house 409A in three days, ASC 718, and audit-ready reporting are specialized, regulated work that Pulley does and RoundOS does not.
- Tokens and liquidity. Token cap tables and Nasdaq Private Market liquidity programs extend Pulley well beyond a basic cap table.
For managing equity, modeling dilution, and staying compliant, Pulley is the answer, and RoundOS does not try to be.
Where RoundOS wins
RoundOS owns the half Pulley does not touch: filling the round with the right investors.
- It finds and enriches investors. RoundOS turns a thin list into fund and person dossiers with role-level contacts and live signals. A cap table starts after the check clears.
- Prioritization by signal. Recent activity and news push the right investor to the top of today's queue. A dilution model cannot rank a prospect.
- Meeting memory and follow-up. A detail from three weeks ago shapes today's message, so threads do not go cold.
- Founder-voice drafts you review. RoundOS drafts one high-context message per investor in your voice. You edit and send. Nothing goes out without your review.
- A daily next move. The campaign to fill the round has a next action every day, which a modeling tool does not provide.
Example workflow: model in Pulley, fill with RoundOS
Before. In Pulley, you modeled a $2M SAFE at a $12M cap and saw exactly what it does to your ownership. The math is clear. The problem is the round is still empty: 60 prospective investors in a spreadsheet, no context, no priorities, no idea who to push or what to say.
After, in RoundOS.
- You connect the spreadsheet plus your inbox, calendar, meeting transcripts, and notes.
- RoundOS enriches each record: the fund's stage and check size, the right partner versus principal versus analyst, recent deals and news, and your warm path.
- It flags the partner who just led a deal in your category, and the warm intro through an advisor in your network.
- It drafts a short note in your voice referencing your last exchange and that recent deal, and queues it for review.
- You edit a line and send. The thread is logged, and when an investor commits, your Pulley model becomes the real cap table entry.
Pulley shows you what the round does. RoundOS gets the round filled. You want both.
Decision checklist
You want Pulley if:
- You need a founder-friendly cap table at a transparent price.
- You want to model dilution, SAFEs, and exit scenarios.
- You need a fast 409A and clean compliance reporting.
- You manage tokens or want integrated liquidity programs.
You want RoundOS alongside it if:
- You need to find, enrich, and prioritize investors.
- You want role-level contacts, live signals, and warm paths.
- You want meeting memory and founder-voice follow-ups you review.
- You want a daily next-move queue to fill the round you modeled.
This is not either/or. Model the round in Pulley, fill it with RoundOS, and let the committed checks flow back into your cap table.
FAQ
Is RoundOS a Pulley alternative? No. Pulley is cap table and equity-modeling software. RoundOS runs the active raise: finding, enriching, and prioritizing investors and drafting founder-reviewed outreach. They cover different halves of the round.
Does RoundOS manage my cap table or model dilution? No. RoundOS does not touch equity records, valuations, or dilution math. Keep Pulley for that. RoundOS handles the campaign to fill the round.
Does Pulley help me find investors? No. Pulley models what a round does to your ownership and records the equity. It does not identify, enrich, or reach out to investors. That is what RoundOS adds.
Can I use Pulley and RoundOS together? Yes, and most founders should. Model the round and manage equity in Pulley, and run the raise that fills it in RoundOS.
Does RoundOS send automated outreach to investors? No. RoundOS drafts context-aware messages from your history for you to review and send. Every message waits for your edit and approval before it goes out.
Try it
Keep Pulley for your cap table, 409A, and round modeling. Run the raise on RoundOS: import your investor list and connect your source context, and RoundOS enriches the pipeline with fund and person data, partner/principal/analyst contacts, news signals, and warm-path context, then turns that into founder-reviewed drafts and a daily list of next moves. Model the round in Pulley. Fill it with RoundOS.
Model the round in Pulley. Fill it with RoundOS.
Keep Pulley for your cap table, 409A, SAFE issuance, and dilution modeling. Bring your investor list and source context to RoundOS so the modeled round becomes a live pipeline with dossiers, signals, warm paths, founder-reviewed drafts, and next moves.