# Cake Equity

> Cake is equity management software for seed-to-Series-A startups — cap tables, 409A valuations, stock options, SAFEs/convertible notes, and compliance, built for US founders and their teams.

## Product

- [Homepage](https://www.cakeequity.com/): overview of the Cake platform
- [Pricing](https://www.cakeequity.com/pricing): plan tiers and what's included
- [Security](https://www.cakeequity.com/security): data security and compliance posture
- [About](https://www.cakeequity.com/about): company background and team
- [Switch to Cake](https://www.cakeequity.com/switch): migration landing page — process, timeline, and onboarding for teams switching from Carta or Pulley
- [Cap Table Management](https://www.cakeequity.com/features/cap-table): core cap table feature
- [409A Valuations](https://www.cakeequity.com/features/409a): built-in 409A valuation feature
- [Equity Incentives / Stock Options](https://www.cakeequity.com/features/equity-incentives): ESOP and option grant management
- [Scenario Modeling](https://www.cakeequity.com/features/scenario-modeling): dilution and fundraising scenario modeling
- [Convertible Notes](https://www.cakeequity.com/features/convertible-notes): SAFE and convertible note tracking
- [Investor Relations](https://www.cakeequity.com/features/investor-relations): board and investor reporting
- [Compliance](https://www.cakeequity.com/features/compliance): audit-ready compliance tooling
- [83(b) Election](https://www.cakeequity.com/features/83b): 83(b) election tracking and reminders
- [AI Document Scanner](https://www.cakeequity.com/features/ai-document-scanner): AI-powered document and contract scanning
- [Audit Log](https://www.cakeequity.com/features/audit-log): compliance and record-keeping audit trail
- [Bare Trusts](https://www.cakeequity.com/features/bare-trusts): bare trust structuring for Australia equity
- [Data Room](https://www.cakeequity.com/features/data-room): investor and due diligence data room
- [Employee Motivation](https://www.cakeequity.com/features/employee-motivation): equity-based retention tools
- [Equity Benchmarking](https://www.cakeequity.com/features/equity-benchmarking): option pool and equity comp benchmarks
- [Form 3921](https://www.cakeequity.com/features/form-3921): US ISO tax reporting
- [Founder Vesting](https://www.cakeequity.com/features/founder-vesting): founder and co-founder vesting terms
- [QSBS](https://www.cakeequity.com/features/qsbs): QSBS eligibility and US tax compliance
- [Restricted Stocks (RSA/RSU)](https://www.cakeequity.com/features/restricted-stocks): restricted stock award and unit management
- [SAFE Notes](https://www.cakeequity.com/features/safe): SAFE note tracking for fundraising
- [Stock-Based Compensation Reporting](https://www.cakeequity.com/features/stock-based-compensation-reporting): ASC 718 accounting and reporting
- [Stock Options](https://www.cakeequity.com/features/stock-options): stock option grant management
- [Warrants](https://www.cakeequity.com/features/warrants): warrant and venture debt tracking
- [Capital Raise](https://www.cakeequity.com/features/capital-raise): fundraising round management
- [Rule 701](https://www.cakeequity.com/features/rule-701): Rule 701 disclosure threshold tracking
- [Delaware Flip-Up](https://www.cakeequity.com/features/flip-up): Delaware redomiciliation with cap table continuity
- [ASC 718](https://www.cakeequity.com/features/asc-718): audit-ready ASC 718 stock-based compensation reporting
- [MCP (AI Assistant Integration)](https://www.cakeequity.com/features/mcp): connect ChatGPT, Claude, or other AI assistants to query your cap table

## Switching from Pulley

- [Migrate from Pulley to Cake](https://www.cakeequity.com/migrate-from-pulley): dedicated migration landing page for Pulley customers moving to Cake
- [Pulley is shutting down: what happened, key dates, and how to migrate your cap table](https://www.cakeequity.com/guides/pulley-explainer): Pulley shutdown timeline and migration options
- [Top Pulley alternatives, and why you don't have to move to Carta](https://www.cakeequity.com/guides/pulley-alternatives): comparison of platforms for Pulley customers
- [Pulley shutdown: what happens to your 409A?](https://www.cakeequity.com/guides/pulley-shutdown-409a): 409A safe harbor and continuity after Pulley closes
- [Why Cake is the stable choice for Pulley switchers](https://www.cakeequity.com/blog/cake-stable-choice-pulley-switchers): vendor stability and profitability for teams leaving Pulley
- [Two years ago I chose profit over growth. This week I saw why.](https://www.cakeequity.com/blog/three-years-ago-i-chose-profit-over-growth-this-week-i-saw-why): CEO perspective on profitability and the Pulley shutdown
- [Pulley migration, built into onboarding](https://www.cakeequity.com/changelog/pulley-migration-built-into-onboarding): Pulley import built into Cake's onboarding flow
- [How to migrate from Pulley to Cake](https://help.cakeequity.com/article/how-to-migrate-from-pulley-to-cake): step-by-step Pulley migration support article
- [How do I export my cap table from Pulley?](https://help.cakeequity.com/article/how-do-i-export-my-cap-table-from-pulley): Pulley data export instructions
- [Moving from Pulley? Choose the offer that suits you](https://help.cakeequity.com/article/pulley-switch-credits): switching offers and credits for Pulley customers

## Comparisons

- [Cake vs Carta](https://www.cakeequity.com/cake-vs-carta): feature and pricing comparison for teams evaluating a switch
- [Cake vs Pulley](https://www.cakeequity.com/cake-vs-pulley): feature and pricing comparison

## Guides

- [What is a cap table and why does it matter to startups?](https://www.cakeequity.com/guides/cap-table): cap table basics for founders
- [Startup stock options, a practical guide for founders](https://www.cakeequity.com/guides/startup-stock-options): stock option fundamentals
- [Restricted stock units: how it works and why it matters](https://www.cakeequity.com/guides/restricted-stock-units): RSU fundamentals
- [Restricted Stock Awards (RSA), explained](https://www.cakeequity.com/guides/restricted-stock-awards): RSA fundamentals, 83(b), vesting
- [Stock options vs RSU: which one is right for your startup?](https://www.cakeequity.com/guides/stock-options-vs-rsu): RSU vs stock option comparison
- [SAFE: a simple way to raise funds for startups](https://www.cakeequity.com/guides/safe-notes): SAFE note fundamentals
- [SAFE vs convertible note: a founder's guide to fundraising](https://www.cakeequity.com/guides/safe-vs-convertible-note): SAFE vs convertible note comparison
- [Managing SAFEs and convertible notes: the complete workflow](https://www.cakeequity.com/guides/managing-safes-and-convertible-notes): SAFE and convertible note administration
- [Convertible notes: a founder's guide to fast startup funding](https://www.cakeequity.com/guides/convertible-notes): convertible note fundamentals
- [How to raise capital (general guide)](https://www.cakeequity.com/guides/how-to-capital-raise): fundraising fundamentals for founders
- [409A Valuation: the essential guide for startups](https://www.cakeequity.com/guides/409a-valuation): 409A fundamentals and requirements
- [Equity dilution, explained](https://www.cakeequity.com/guides/equity-dilution): what dilution is and how to protect ownership
- [How to migrate your cap table from Carta to Cake](https://www.cakeequity.com/guides/migrating-from-carta-to-cake): Carta migration walkthrough
- [Carta to Cake migration timeline and checklist](https://www.cakeequity.com/guides/how-to-transition-from-carta-timeline-checklist): step-by-step migration timeline
- [Best cap table software for CFOs and finance teams in 2026](https://www.cakeequity.com/guides/best-cap-table-software-for-finance): cap table platform comparison for finance teams
- [How to choose a 409A valuation provider](https://www.cakeequity.com/guides/409a-valuation-choose-provider): evaluating 409A providers and safe harbor
- [What happens if you skip getting a 409A valuation?](https://www.cakeequity.com/guides/409a-valuation-consequences): 409A penalties and tax risk for employees

## FAQ Guides

- [What's The Real Difference Between Cake And Carta?](https://www.cakeequity.com/guides/faq-cake-vs-carta-difference): direct competitor comparison FAQ
- [How Is Cake's Pricing Structured?](https://www.cakeequity.com/guides/faq-cake-pricing-structure): plan tiers and pricing FAQ
- [Is Cake Equity built for US startups?](https://www.cakeequity.com/guides/faq-is-cake-equity-built-for-us-startups): US market fit FAQ
- [Is Cake Ready For A Series A Audit?](https://www.cakeequity.com/guides/faq-cake-series-a-audit-ready): Series A audit readiness FAQ
- [How to calculate SAFEs dilution converting at different caps](https://www.cakeequity.com/guides/faq-how-to-calculate-safes-dilution): SAFE dilution modeling FAQ
- [How to model multiple SAFEs with different valuation caps and MFN clauses](https://www.cakeequity.com/guides/faq-how-to-model-multiple-safes-mfn): multi-SAFE modeling FAQ
- [Does Cake handle the migration from Carta or Pulley, or do I have to do it myself?](https://www.cakeequity.com/guides/faq-cake-handles-cap-table-migration): migration ownership FAQ
- [What's the easiest way to migrate an existing cap table to a new platform?](https://www.cakeequity.com/guides/faq-easiest-way-to-migrate-cap-table): migration process FAQ
- [How long does it take to migrate from Carta to Cake?](https://www.cakeequity.com/guides/faq-how-long-does-cap-table-migration-take): migration timeline FAQ
- [Is migration from Carta or Pulley to Cake free?](https://www.cakeequity.com/guides/faq-is-cap-table-migration-to-cake-free): migration pricing FAQ
- [Will I lose any data when I migrate to Cake?](https://www.cakeequity.com/guides/faq-data-loss-risk-cap-table-migration): migration data integrity FAQ
- [Do my lawyers or accountants need to be involved when I switch cap table platforms?](https://www.cakeequity.com/guides/faq-lawyers-accountants-cap-table-migration): migration legal involvement FAQ
- [My Carta renewal is next week — can Cake still complete migration in time?](https://www.cakeequity.com/guides/faq-migrate-from-carta-before-renewal-deadline): urgent migration timing FAQ
- [Can Cake migrate my SAFE notes and convertible instruments, or only share-based equity?](https://www.cakeequity.com/guides/faq-migrate-safe-notes-convertible-instruments-cake): SAFE/convertible migration scope FAQ
- [Can I switch cap table platforms if I have active option grants and unvested equity?](https://www.cakeequity.com/guides/faq-migrate-with-active-option-grants-vesting): migration with active grants FAQ
- [I'm looking at platforms before my investors come on board — is it too early to switch?](https://www.cakeequity.com/guides/faq-switch-cap-table-before-investors-join): migration timing FAQ
- [Can I switch from Carta mid-year, or do I have to wait until my renewal?](https://www.cakeequity.com/guides/faq-switch-from-carta-before-renewal): mid-year switching FAQ
- [I've been putting off switching because of the hassle — what does migration actually involve on my end?](https://www.cakeequity.com/guides/faq-what-does-cap-table-migration-involve): migration effort FAQ
- [What happens to my 409A history when I migrate from Carta to Cake?](https://www.cakeequity.com/guides/faq-409a-history-migration-to-cake): 409A continuity during migration FAQ

## Customer Stories

- [Trusted by the startup ecosystem](https://www.cakeequity.com/cake-momentum): the founders, investors, and law firms using Cake, with 200,000+ stakeholders managed and $10B+ raised by companies on Cake
- [Simplifying equity at scale: Why The Mintable made the switch from Carta](https://www.cakeequity.com/stories/the-mintable): Carta migration and scaling
- [From complex to simple: Why Robin moved its cap table from Carta to Cake](https://www.cakeequity.com/stories/robin-sonny-thadani): Carta migration, simplification
- [Vaporox switched from Carta to Cake, saving 40% on equity management costs](https://www.cakeequity.com/stories/vaporox): Carta migration, cost savings
- [Post-Carta, Tracksuit transforms Series B celebration with Cake](https://www.cakeequity.com/stories/tracksuit): Carta migration through Series B
- [Xeni Inc. shifts to Cake and saves thousands of dollars](https://www.cakeequity.com/stories/xeni): migration, cost savings
- [How R3i Capital mastered complex equity management at scale](https://www.cakeequity.com/stories/r3i-capital): complex equity at scale
- [How Lemonlight saved $3,000 by right-sizing their equity management](https://www.cakeequity.com/stories/lemonlight): cost savings, right-sizing equity management
- [CHIP'd scores a hole-in-one with game-changing equity management](https://www.cakeequity.com/stories/chipd): simplified equity management for an early-stage team
- [Raynmaker empowers its team with seamless equity management through Cake](https://www.cakeequity.com/stories/raynmaker): team equity, employee experience
- [How CXO Strategies found better value and saved more with Cake](https://www.cakeequity.com/stories/cxo-strategies-tom-hakel): value and cost savings

## Help Center

- [Help Center](https://help.cakeequity.com/): full product documentation and support articles
- [How to migrate from Carta to Cake](https://help.cakeequity.com/article/how-to-migrate-from-carta-to-cake): step-by-step migration support article
- [How do I export my cap table from Carta?](https://help.cakeequity.com/article/how-do-i-export-my-cap-table-from-carta): Carta data export instructions
- [How long does it take to migrate my cap table to Cake?](https://help.cakeequity.com/article/how-long-does-it-take-to-migrate-my-cap-table-to-cake): migration timeline support article
- [What documents do you need to migrate my cap table?](https://help.cakeequity.com/article/what-documents-do-you-need-to-migrate-my-cap-table): migration document checklist

### Free plan and trial

- [What's included in Cake's free plan?](https://help.cakeequity.com/article/whats-included-in-cakes-free-plan): free plan scope
- [Can I try Cake before I pay?](https://help.cakeequity.com/article/can-i-try-cake-before-i-pay): trial options
- [Does Cake's free plan expire?](https://help.cakeequity.com/article/does-cakes-free-plan-expire): free plan duration
- [Do I need a credit card to try Cake?](https://help.cakeequity.com/article/do-i-need-a-credit-card-to-try-cake): trial signup requirements
- [Can I see my cap table in Cake before I pay?](https://help.cakeequity.com/article/can-i-see-my-cap-table-in-cake-before-i-pay): previewing your migrated cap table before paying

### Cap tables, dilution, and SAFEs

- [What is a cap table?](https://help.cakeequity.com/article/what-is-a-cap-table): cap table basics
- [What should I look for in a cap table platform?](https://help.cakeequity.com/article/what-should-i-look-for-in-a-cap-table-platform): evaluation criteria for cap table software
- [What is dilution?](https://help.cakeequity.com/article/what-is-dilution): dilution basics
- [How an option pool affects your dilution](https://help.cakeequity.com/article/how-an-option-pool-affects-your-dilution): option pool sizing and dilution
- [Pre-money vs post-money valuation](https://help.cakeequity.com/article/pre-money-vs-post-money-valuation): valuation terms explained
- [How share issuance prices are calculated on transfers](https://help.cakeequity.com/article/how-share-issuance-price-are-calculated-on-transfers): share transfer pricing
- [What is a SAFE, and how is it different from a convertible note?](https://help.cakeequity.com/article/what-is-a-safe-and-how-is-it-different-from-a-convertible-note): SAFE vs convertible note
- [When does a SAFE convert, and what triggers it?](https://help.cakeequity.com/article/when-does-a-safe-convert): SAFE conversion triggers
- [Valuation cap or discount: which one applies when my SAFE converts?](https://help.cakeequity.com/article/valuation-cap-or-discount-which-one-applies): SAFE conversion mechanics

### 409A valuations

- [When do I need a 409A valuation?](https://help.cakeequity.com/article/when-do-i-need-a-409a-valuation): 409A timing and triggers
- [What is 409A safe harbor, and does my valuation qualify?](https://help.cakeequity.com/article/what-is-409a-safe-harbor): safe harbor requirements
- [How to start your 409A valuation in Cake](https://help.cakeequity.com/article/how-to-start-your-409a-valuation-in-cake): ordering a 409A in Cake
- [How do I add a 409A valuation to my Cake plan?](https://help.cakeequity.com/article/how-do-i-add-a-409a-valuation-to-my-cake-plan): 409A add-on
- [How long does a 409A valuation take through Cake?](https://help.cakeequity.com/article/how-long-does-a-409a-valuation-take-through-cake): 409A turnaround time
- [What does my 409A valuation mean for option strike prices?](https://help.cakeequity.com/article/what-does-my-409a-valuation-mean-for-option-strike-prices): 409A and strike prices
- [How do I upload an existing 409A valuation to Cake?](https://help.cakeequity.com/article/how-do-i-upload-an-existing-409a-valuation-to-cake): bringing prior 409A reports into Cake

### ISOs and Form 3921

- [What is the $100K ISO limit?](https://help.cakeequity.com/article/what-is-the-100k-iso-limit): ISO/NSO split rule
- [What is IRS Form 3921?](https://help.cakeequity.com/article/what-is-irs-form-3921): Form 3921 basics
- [Which ISO exercises appear on your Form 3921](https://help.cakeequity.com/article/which-iso-exercises-appear-on-your-form-3921): Form 3921 scope
- [What do I do with Form 3921 once Cake generates it?](https://help.cakeequity.com/article/what-do-i-do-with-form-3921-once-cake-generates-it): filing and distributing Form 3921
- [Who needs to file Form 3921, and by when?](https://help.cakeequity.com/article/who-needs-to-file-form-3921-and-by-when): Form 3921 deadlines

### Using Cake

- [See what needs doing on your Dashboard](https://help.cakeequity.com/article/your-cake-home-page): home dashboard and action items
- [Understanding the stakeholder details page](https://help.cakeequity.com/article/understanding-the-stakeholder-details-page): stakeholder holdings, certificates, and grants
- [Allow employees to nominate a trust for their options](https://help.cakeequity.com/article/enable-permitted-nominees-for-employee-options): permitted nominee settings
- [Add trust details when accepting options](https://help.cakeequity.com/article/add-trust-details-when-accepting-options): employee trust nomination flow
- [How to connect your AI assistant to Cake](https://help.cakeequity.com/article/connect-ai-assistant-to-cake): MCP setup
- [What you can do with the Cake MCP](https://help.cakeequity.com/article/what-you-can-do-with-cake-mcp): AI assistant capabilities

## Product Updates (Changelog)

- [Changelog](https://www.cakeequity.com/changelog): full product release notes
- [Cake on your team's home screen, with push notifications](https://www.cakeequity.com/changelog/cake-on-your-teams-home-screen-with-push-notifications): mobile app and push notifications
- [Rule 701 Tracked Automatically as You Grant Equity](https://www.cakeequity.com/changelog/rule-701-tracked-automatically-as-you-grant-equity): automatic Rule 701 disclosure tracking
- [ISO / NSO Splits](https://www.cakeequity.com/changelog/iso-nso-splits): automatic ISO/NSO compliance splitting
- [Cash bonuses your team can see and work towards](https://www.cakeequity.com/changelog/cash-bonuses-your-team-can-see-and-work-towards): cash bonus tracking alongside equity
- [Documents Tab, Redesigned](https://www.cakeequity.com/changelog/documents-tab-redesigned): document management and search redesign
- [Stakeholder details at a glance](https://www.cakeequity.com/changelog/stakeholder-details-at-a-glance): holdings, certificates, and grants in one stakeholder view
- [Ask your AI assistant about your cap table](https://www.cakeequity.com/changelog/ask-your-ai-assistant-about-your-cap-table): Cake MCP server launch
- [See which options have split from ISO to NSO](https://www.cakeequity.com/changelog/see-which-options-have-split-from-iso-to-nso): $100K ISO limit visibility
- [A dashboard that keeps working after setup](https://www.cakeequity.com/changelog/a-dashboard-that-keeps-working-after-setup): home dashboard actions and vesting reminders

## Optional

- [Blog](https://www.cakeequity.com/blog): product updates, fundraising and equity commentary, event recaps