Equity management platform Pulley has closed its Series B round on $40m, as it launches free service to startups.
Founders Fund general partner Keith Rabois led the Series B round. As part of the deal, Rabois will join the Pulley board of directors.
Other contributions to the round came from Stripe, Elad Gil, Jack Altman and Avichal Garg.
In addition to the funding, the company launched a free tier of its services, Pulley Seed. The service helps new startups get to the first stage of hiring and fundraising without spending thousands on legal fees.
It said, “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.”
To start, Pulley works with Atlas and Clerky to make it easy to onboard. Its team of experts then checks every startup’s cap table for the remainder of the year and will waive its standard onboarding fee.
Pulley Seed helps new startups model and compare different funding scenarios, manage the fundraising process and grant equity to employees at no cost. Legal agreements, including fundraising documents and equity grant agreements for U.S. and international employees, are pre-loaded and fully integrated into the platform.
The FinTech company previously raised $10m in its Series A round back in 2020.
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