Last updated: May 6, 2026 • 5 min read
Quick Comparison
Best for Early Stage
%
FounderMath
Free forever
- ✓ 10+ equity calculators
- ✓ No signup required
- ✓ Interactive visual charts
- ✓ Shareable via URL
- ✓ Built for learning
- ✗ 409a valuations
- ✗ Legal compliance
C
Carta
$100+/mo
- ✓ Full cap table management
- ✓ 409a valuations
- ✓ Legal compliance
- ✓ Investor access
- ✗ Expensive for startups
- ✗ Sales demo required
- ✗ Steep learning curve
P
Pulley
$100+/mo
- ✓ Cap table management
- ✓ 409a valuations
- ✓ Simpler than Carta
- ✓ Employee equity plans
- ✗ Still expensive
- ✗ Account required
- ✗ Limited free tier
Detailed Feature Comparison
| Feature | FounderMath | Carta | Pulley |
|---|---|---|---|
| Pricing | Free ($19/mo Pro) | $100-$500+/mo | $100-$300+/mo |
| Signup Required | No | Yes, sales demo | Yes |
| Equity Dilution Calculator | ✓ | ✗ | ✗ |
| SAFE Note Calculator | ✓ | ✗ | ✗ |
| Runway Calculator | ✓ | ✗ | ✗ |
| Cap Table Management | ✓ (basic) | ✓ (full) | ✓ (full) |
| 409a Valuations | ✗ | ✓ | ✓ |
| Legal Compliance | ✗ | ✓ | ✓ |
| Stock Option Calculator | ✓ | ✗ | ✗ |
| Equity Split Calculator | ✓ | ✗ | ✗ |
| Compare Job Offers | ✓ | ✗ | ✗ |
| Employee Equity Portal | ✗ | ✓ | ✓ |
| Investor Access | ✗ | ✓ | ✓ |
FounderMath: Best for Early-Stage Founders & Employees
FounderMath is designed for founders and employees who need to understand equity math before they commit to expensive tools.
✓ Pros
- Completely free for all 10+ calculators
- No signup or credit card required
- Interactive charts make equity math visual
- Share calculations via URL with cofounders
- Built-in learning resources and pro tips
- Perfect for modeling funding scenarios
- Evaluating job offers with equity
- Works in 5 seconds, no setup needed
✗ Cons
- Not a full cap table management system
- No 409a valuations
- No legal compliance features
- Not suitable for complex cap tables (50+ stakeholders)
- Doesn't issue actual equity or options
Carta: Best for Post-Series A Companies
Carta is the industry standard for cap table management, 409a valuations, and equity compliance.
✓ Pros
- Industry standard for cap table management
- Integrated 409a valuations
- Full legal compliance support
- Employee equity portal
- Investor access and portfolio tools
- Liquidity marketplace for secondary sales
- Comprehensive reporting
✗ Cons
- Very expensive for early-stage startups
- Requires sales demo and account setup
- Steep learning curve
- Overkill for pre-seed/seed stage
- No standalone calculators
Pulley: Simpler Alternative to Carta
Pulley offers cap table management with a simpler interface than Carta, but still requires a paid subscription.
✓ Pros
- Simpler UI than Carta
- 409a valuations included
- Good for Series A-B companies
- Employee equity portal
- Faster onboarding than Carta
✗ Cons
- Still expensive ($100+/mo)
- Limited free tier
- Account required
- Overkill for early stage
- Less feature-rich than Carta
When to Use Each Tool
✓ Use FounderMath if you are:
- A pre-seed or seed-stage founder trying to understand equity dilution
- Modeling different funding scenarios before talking to investors
- Having the equity split conversation with cofounders
- Evaluating a startup job offer and need to understand the equity component
- Calculating the potential value of stock options at different exit scenarios
- Teaching at an accelerator and need tools for your cohort
- Just starting out and need to learn the basics of startup equity
⚠ Use Carta if you are:
- Post-Series A with 20+ stakeholders on your cap table
- Required by your investors to use Carta for portfolio management
- Need 409a valuations for tax compliance
- Managing employee equity plans with grants and exercises
- Need legally compliant cap table management
⚠ Use Pulley if you are:
- Series A-B stage and want something simpler than Carta
- Need 409a valuations and cap table management
- Managing employee equity at scale
- Looking for a middle ground between basic tools and enterprise Carta
The Bottom Line
Use FounderMath to LEARN and PLAN. Use Carta or Pulley to MANAGE and COMPLY. They serve different needs at different stages. Start with FounderMath for free, upgrade to Carta/Pulley when you actually need compliance and 409a valuations.
Start Calculating for Free →Frequently Asked Questions
Is FounderMath a replacement for Carta?
No. FounderMath is for learning and planning. Carta is for managing and complying. Use FounderMath to understand your equity math before you need full cap table management. Most founders start with FounderMath and upgrade to Carta when they reach Series A or have 20+ stakeholders.
Can I use FounderMath and Carta together?
Absolutely. Many founders use FounderMath to model funding scenarios and understand dilution before signing deals, then manage the actual cap table in Carta. They complement each other well.
Why is FounderMath free when Carta and Pulley cost so much?
FounderMath focuses on calculators and education, not full cap table management. Our tools help you understand equity math, but we don't handle the legal compliance, 409a valuations, or actual equity issuance that justify Carta and Pulley's pricing.
Which tool should I use if I'm evaluating a job offer?
FounderMath is the clear winner here. Use our Compare Equity Offers and Stock Options Calculator to understand what your offer is worth. Carta and Pulley are for managing equity you already have, not evaluating offers.
Do I really need Carta or Pulley if I use FounderMath?
Not until you reach Series A or have a complex cap table. Many founders use FounderMath from pre-seed through seed. You'll know when it's time to upgrade — usually when your investors require it or you need 409a valuations for tax compliance.