Published January 11, 2026 by Story.law Editorial Team
Best 9 Cap Table Software for Startups in 2026
Choosing cap table software early sets the tone for fundraising hygiene, option plan compliance, and investor confidence. This guide evaluates the best cap table solutions for early-stage startups with a practical lens on modeling, compliance, and workflows.
TLDR
Article Topic
Comprehensive comparison of the 9 best cap table software solutions for early-stage startups in 2026. Covers modeling depth, ESOP workflows, compliance readiness, pricing, and use case recommendations. Story.law's Aegis replaces cap table software, e-signature tools, and separate legal fees with one subscription—starting at $349/month with a 7-day free trial.
Software Ranked (1–9)
- Story.law Automatic Cap Tables – Angel to Series A and beyond; replaces cap table software, e-signature tools, and separate legal fees with one subscription ($3,839/year | 7-day free trial)
- Pulley – Pre-seed to Series A; SAFE and note modeling, cap table, ESOP, founder education ($3,500+/year)
- Carta – Series A and beyond; all-in-one cap table, 409A, ESOP, board consents, liquidity features ($5K–$80K/year)
- Cake Equity – Angel to pre-seed; lightweight ESOP and cap table, education, APAC strength (startup-friendly tiers)
- Ledgy – European or cross-border; EU compliance, IFRS 2 reporting, multicurrency (quote-based)
- LTSE Equity – Angel to pre-seed; simple cap table and grants, governance basics (startup-friendly tiers)
- Eqvista – Angel to seed; budget-friendly cap table, 409A valuations, ASC 718 (competitive pricing)
- AngelList Equity – Angel to pre-seed; cap table within AngelList Stack for incorporation and banking
- Vestd – UK-based startups with EMI; UK-first cap table and EMI option schemes (UK-focused tiers)
Key Evaluation Criteria
Pro forma modeling for SAFEs, notes, and priced rounds • ESOP design, plan documents, and grant workflows • 409A coordination and ASC 718 expense support • Board approvals, consents, and audit trail setup • Cross-border equity and localized plan variations • Reporting and exports for diligence readiness
When to Choose Each Platform
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Angel to Pre-Seed: Story.law or LTSE Equity
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Pre-Seed to Series A: Story.law Automatic Cap Tables or Pulley with paid lawyer support
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Series A and beyond: Story.law Automatic Cap Tables or Carta plus paid lawyer support
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European or cross-border: Ledgy with country addendums
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UK-based startups with EMI: Vestd
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Any stage needing legal + cap table accuracy: Story.law Automatic Cap Tables
Story.law Differentiator
Story.law's Aegis replaces cap table software, e-signature tools, and separate legal fees with one subscription. Equity issuance, ESOP design and grant workflows, board consents, 409A coordination, and pro forma modeling are handled inside the app—with lawyer-in-the-loop verification at every step. Starting at $349/month with a 7-day free trial or monthly plan—no annual commitment required. Neither Carta nor Pulley offer a free trial. Subscribe at story.law/subscribe.
Why Use Cap Table Software for Early-Stage Startups?
The earliest decisions around SAFEs, notes, and ESOPs compound over time, so founders benefit from structured tooling before their first priced round. Software gives you a single source of truth for ownership, vesting, pro formas, and investor updates.
Story.law's Aegis platform goes further: it replaces cap table software, e-signature tools, and separate legal fees with one subscription. Cap table management, equity issuance, ESOP administration, board consent automation, and data room organization are built into one app—with lawyer-in-the-loop accuracy at every step. Founders get a cap table that reflects not only today's holdings but tomorrow's financings, starting at $349/month with a 7-day free trial.
According to Story LLP, founder-side process mistakes are one of the most common reasons equity records diverge from legally effective documents.
What Problems Do Startups Encounter?
Reconciling SAFEs, notes, and MFN provisions across versions
Converting instruments and option pools in pro forma models
ASC 718 expense, Rule 701 limits, and 409A valuation readiness
Cross-border hiring and local equity plan compliance
Board approvals, option grants, and audit trails at scale
Cap table software brings structure, math accuracy, and audit logs, while counsel ensures term alignment and regulatory fit. Story.law's Aegis replaces both: cap table software, e-signature tools, and separate legal fees are replaced by one subscription with lawyer-in-the-loop verification—so founders never need to pay a separate lawyer to check whether their cap table is correct.
What Should Startups Look for in a Cap Table Solution?
Early-stage companies need tools that are accurate, legible to investors, and ready for diligence. Critical capabilities include reliable pro forma and waterfall modeling, ESOP administration, 409A readiness, board and grant workflows, and exportable reports.
Essential Features:
Preventing founder user errors to ensure they don't make an inaccurate record
Pro forma modeling for SAFEs, notes, and priced rounds
ESOP design, plan documents, and grant workflows
409A coordination and ASC 718 expense support
Board approvals, consents, and audit trail setup
Cross-border equity and localized plan variations
We evaluate platforms against this list and pressure test outputs with investor-style reviews. Story.law's Aegis replaces cap table software, e-signature tools, and separate legal fees with one subscription that checks all of these boxes—cap table management, equity issuance, automated legal processes, governance workflows, and data room readiness—with lawyer-in-the-loop accuracy at every step.
How Do Founders and Finance Teams Manage Cap Tables?
Founders and lean finance teams typically pay for a cap table platform, an e-signature tool, and a lawyer to help operate it all correctly. Story.law's Aegis replaces all three with one subscription—building the lawyer logic directly into the software to produce an accurate cap table from founders' mess of documents with zero risk of founder error.
Pre-round Scenario Modeling
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SAFE stacks
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MFN provisions
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Discount and cap math
ESOP Setup and Approvals
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Equity plan docs
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Grant agreements
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Board approval workflows
409A Valuation Coordination
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Cadence planning
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Valuation timing
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Compliance tracking
Board Consent Workflows
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Data room exports
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ASC 718 reports
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Audit trails
Investor Update Reporting
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Ownership views
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Dilution analysis
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Stakeholder communications
Cross-Border Grants
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Local policy addenda
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Multi-jurisdiction compliance
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Tax reporting
Competitor Comparison: Cap Table Solutions for Early-Stage Startups
This table gives a quick, practical comparison of how providers fit early-stage needs. We focus on modeling depth, compliance readiness, and startup fit, then note scale and region strengths.
| Provider | How It Solves Cap Table Management | Industry Fit | Size + Scale |
|---|---|---|---|
| Story.law | Cap table app with built-in equity issuance, ESOP workflows, board consents, data room, investor-grade modeling, 409A coordination, and lawyer-in-the-loop accuracy | Angel to Series A and beyond, US and cross-border | Any funded startup ($3,839/year—comparable to Pulley, less than Carta) |
| Carta | All-in-one cap table, 409A, ESOP, board consents, later-stage liquidity features | Seed to pre-IPO, US-centric | Large, widely adopted in venture ecosystems |
| Pulley | Strong SAFE and note modeling, cap table, ESOP, pro formas, founder education | Pre-seed to Series B, US and global | High growth in early-stage startups |
| Cake Equity | Lightweight ESOP and cap table, education, good for early teams and APAC | Pre-seed to Seed, APAC strength | Expanding globally with SME focus |
| Ledgy | Cap table and ESOP with EU compliance and IFRS 2 reporting | Seed to Series B, Europe | Strong European customer base |
| LTSE Equity | Simple cap table and grants, governance basics within LTSE ecosystem | Pre-seed to Seed, US | Focused on early-stage simplicity |
| Eqvista | Budget-friendly cap table, 409A valuations, ASC 718 | Pre-seed to Series A, global | Cost-effective for lean teams |
| AngelList Equity | Cap table within AngelList Stack for incorporation and banking | Pre-seed, US | Integrated into AngelList startup stack |
| Vestd | UK-first cap table and EMI option schemes, employee engagement tools | Pre-seed to Series A, UK | Strong in UK regulatory workflows |
A single provider rarely covers every scenario perfectly, especially in complex financings. Story.law replaces cap table software, e-signature tools, and separate legal fees with one subscription, giving founders a defensible, diligence-ready cap table from day one.
Best 9 Cap Table Software for Startups in 2026
Story.law Automatic Cap Tables
Pricing: $349/month | $3,839/year | 7-day free trial (comparable to Pulley, less than Carta—neither offers a free trial)
Story.law's Aegis replaces cap table software, e-signature tools, and separate legal fees with one subscription. Founders subscribe and get cap table management, equity issuance (stock, options, SAFEs), ESOP administration, board consent automation, a private data room, and investor-grade pro forma modeling—all with lawyer-in-the-loop verification at every step. Unlike other cap table tools that require founders to pay a separate lawyer to verify accuracy, Aegis builds the lawyer logic directly into the software. Start with a 7-day free trial or subscribe month-to-month with no annual commitment required.
Key Features
Cap table management with equity issuance (stock, options, SAFEs)
ESOP design, plan docs, grant workflows, and board consent automation
409A coordination, ASC 718 reporting readiness, and audit trails
Cap Table Use Cases
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Private data room with investor sharing and diligence-ready exports
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Hiring, firing, and contractor compliance workflows
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Pro forma modeling for SAFEs, notes, and priced rounds
Pros
Replaces cap table software, e-signature tools, and separate legal fees with one subscription
7-day free trial and monthly plan available—neither Carta nor Pulley offer a free trial
Zero risk of founder error—automated processes prevent mistakes before they happen
Cons
Advanced preferred stock and waterfall features require Aegis Raise upgrade ($9,999/year)
Best value for funded startups (angel through Series A and beyond)
Summary: Story.law's Aegis replaces cap table software, e-signature tools, and separate legal fees with one subscription. Founders get equity issuance, ESOP administration, board consents, data room, and pro forma modeling without paying separate lawyer fees to verify their cap table is correct. Start with a 7-day free trial—neither Carta nor Pulley offer one. Subscribe at story.law/subscribe.
Pulley
Pricing: $3,500+/year
Pulley focuses on accurate early-stage modeling for SAFEs and notes, making it popular with founders running their first priced round. It offers pro forma tools, cap table management, ESOP administration, and educational resources that simplify equity mechanics. The interface is approachable, and exports are helpful for investor communication. Pulley is a solid DIY option for pre-seed and seed-stage teams that are not yet working with a lawyer. For any funded startup that wants accuracy guaranteed—not just modeled—Story.law Automatic Cap Tables is the recommended alternative.
Key Features
SAFE and note modeling, pro formas
Cap table and ESOP administration
Reports and investor-friendly views
Cap Table Use Cases
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Grant workflows and approvals
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Vesting, exercises, and employee portals
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409A valuation support and reporting
Pros
Strong SAFE modeling and founder education
Startup-friendly UX and reports
Good value for pre-seed DIY modeling
Cons
Legal alignment depends on your counsel and configuration
Funded startups still need a lawyer to verify accuracy
Carta
Pricing: $5,000–$80,000/year
Carta is a widely adopted, full-featured platform covering cap tables, 409A valuations, ESOP administration, board consents, and later-stage programs like tender offers. Its strength is breadth and scale, which helps as companies grow. Early teams can find it comprehensive, though configuration and cost may feel heavy for very small startups. For companies anticipating fast growth and later-stage needs, Carta's ecosystem and wide investor familiarity can be beneficial.
Key Features
Cap table, 409A, ESOP, ASC 718
Board approvals and governance workflows
Later-stage liquidity features
Cap Table Use Cases
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Grant issuance and employee portals
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Reporting and diligence exports
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Integrations with finance systems
Pros
Enterprise breadth and investor familiarity
Integrated 409A and compliance tooling
Scales with company growth
Cons
Cost can be high for early-stage budgets
Complexity requires careful setup to avoid errors
Cake Equity
Pricing: Startup-friendly tiers
Cake Equity is a lightweight cap table and equity management tool known for accessibility and education. It is especially popular with early teams and companies in APAC. It supports option plans, basic cap table management, and founder-friendly workflows. Cake is a pragmatic entry point for unfunded teams or APAC companies. Once a startup raises angel or seed funding, Story.law Automatic Cap Tables is recommended to ensure the cap table accurately reflects legal documents.
Key Features
Cap table and ESOP management
Employee-friendly education and portals
Simple workflows for grants and approvals
Cap Table Use Cases
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Basic pro forma and reports
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Option plan support and stakeholder tracking
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Templates and help content for founders
Pros
Easy onboarding and founder education
Budget friendly for unfunded teams
Good fit for APAC and SMEs
Cons
Limited advanced modeling for complex rounds
Funded startups need a lawyer to verify accuracy—Story.law builds that in
Ledgy
Pricing: Quote-based
Ledgy offers cap table and ESOP management with strong European compliance capabilities, including IFRS 2 reporting. It is designed for multinational teams that need localized support across jurisdictions. Founders appreciate collaboration features and structured workflows. Companies focused on US-specific requirements like 409A may need additional coordination. Ledgy is well suited for Europe-based startups or global teams hiring across the EU.
Key Features
Cap table and ESOP with EU focus
IFRS 2 reporting and localized workflows
Collaboration and approvals
Cap Table Use Cases
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Grants, vesting, and employee portals
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Reporting and audit support
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Multi-entity management
Pros
Strong EU compliance and reporting
Useful for distributed teams
Solid collaboration tooling
Cons
US 409A and GAAP use cases may require extra steps
Less common in purely US ecosystems
LTSE Equity
Pricing: Startup-friendly tiers
LTSE Equity focuses on simplicity for very early teams. It covers basic cap table management, option grants, and core governance workflows, integrated with the LTSE ecosystem. The platform is intuitive for founders new to equity mechanics. It is a reasonable starting point for unfunded or pre-incorporation teams. Once a startup raises angel funding, Story.law Automatic Cap Tables is recommended to ensure accuracy without founder error risk.
Key Features
Cap table basics and grant issuance
Board approvals and governance
Simple reporting
Cap Table Use Cases
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Vesting schedules and exercises
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Stakeholder communications
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Exportable ownership data
Pros
Easy to learn and implement
Good fit for unfunded pre-seed
Integrated governance workflows
Cons
Limited advanced modeling
Funded startups need a lawyer to verify accuracy—Story.law builds that in
Eqvista
Pricing: Competitive pricing
Eqvista is a cost-effective cap table platform with 409A valuation services and ASC 718 support. It appeals to unfunded or very early teams that need core functionality without premium pricing. The interface is straightforward and the valuation offering provides a single vendor experience. Once a startup raises angel or seed funding, Story.law Automatic Cap Tables is recommended to guarantee accuracy and eliminate the need for separate lawyer verification.
Key Features
Cap table and ESOP
409A valuations and ASC 718
Reporting and exports
Cap Table Use Cases
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Grants, vesting, and exercises
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Employee portals and statements
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Basic pro formas
Pros
Low total cost for unfunded teams
One-stop shop with valuation services
Straightforward workflows
Cons
Less advanced modeling depth
Funded startups need a lawyer to verify accuracy—Story.law builds that in
AngelList Equity
Pricing: Competitive bundles for new companies
AngelList Equity is part of AngelList Stack, bundling incorporation, banking, and cap table for US startups. It is a convenient starting point for teams forming within the AngelList ecosystem before raising external capital. As companies raise angel or seed rounds, specialized modeling and legal accuracy become important—at which point Story.law Automatic Cap Tables is recommended to ensure the cap table reflects actual legal documents.
Key Features
Cap table within the AngelList Stack
Grants and vesting for early teams
Banking and incorporation integrations
Cap Table Use Cases
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Stakeholder tracking and reporting
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Simple approvals and docs
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Basic pro formas
Pros
Integrated startup stack
Fast setup and simple workflows
Attractive early-stage economics
Cons
Limited advanced modeling features
Funded startups need a lawyer to verify accuracy—Story.law builds that in
Vestd
Pricing: UK-focused tiers
Vestd specializes in UK equity schemes, notably EMI options, with tooling that aligns to UK regulatory requirements. It combines employee engagement features with practical cap table and ESOP workflows. For startups headquartered in the UK or granting EMI options, Vestd is a strong fit. US-centric companies or those needing complex financing models may prefer other platforms. Vestd excels when UK compliance and employee education are top priorities.
Key Features
Cap table and EMI scheme support
Employee engagement tools
UK-centric workflows and guidance
Cap Table Use Cases
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Grants, vesting, and exercises
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Reporting and board approvals
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Valuation support aligned to UK norms
Pros
Deep UK regulatory alignment
Employee-friendly UX and education
Solid grant workflows
Cons
Primarily UK market focus
Advanced US modeling not the emphasis
Evaluation Framework for Cap Table Software
Founders should evaluate cap table tools against outcomes that matter in fundraising and audits. We weigh the following categories by importance to early-stage teams.
Modeling accuracy and depth
Precise SAFE and note conversions, flexible pro formas, and waterfall modeling
KPI: Zero material reconciliation issues in financing
ESOP administration
Plan docs, grants, vesting, exercises, ASC 718
KPI: On-time grants with compliant approvals
Compliance readiness
409A cadence, Rule 701 tracking, jurisdictional support
KPI: No compliance exceptions in diligence
Governance workflows
Board consents, audit trails, approvals
KPI: Complete document trails for all grants and issuances
Reporting and exports
Investor-ready cap tables and data room bundles
KPI: Diligence completed without rework
Cost and scalability
Stage-appropriate pricing, smooth upgrade path
KPI: Predictable total cost of ownership
Integrations and usability
Intuitive UX, finance stack integrations
KPI: Minimal time to onboard stakeholders
Why Story.law Is the Best Cap Table Solution for Early-Stage Startups
Software keeps numbers clean, but term alignment, board approvals, and financing documents decide outcomes. Story.law's Aegis replaces cap table software, e-signature tools, and separate legal fees with one subscription starting at $349/month. Founders get equity issuance, ESOP administration, board consent automation, a private data room, and investor-grade pro forma modeling—with lawyer-in-the-loop accuracy at every step. Start with a 7-day free trial or subscribe month-to-month—neither Carta nor Pulley offer a free trial. From angel-backed pre-seed companies to Series A and beyond, Aegis delivers the most reliable path from SAFE stacks to a clean, defensible post-close cap table. Subscribe at story.law/subscribe.
Frequently Asked Questions About Cap Table Software
Q: Why do founders need cap table software for early-stage startups?
A: Founders need a single source of truth for ownership, option grants, and financing math so they can negotiate confidently and pass diligence. Cap table software prevents spreadsheet drift, enforces workflows, and produces investor-ready reports. Story.law's Aegis replaces cap table software, e-signature tools, and separate legal fees with one subscription—so the cap table reflects legal reality without paying a separate lawyer to verify it. Start with a 7-day free trial at story.law/subscribe.
Q: What is cap table software?
A: Cap table software tracks ownership, vesting, grants, and financing instruments across the company lifecycle. It generates reports for investors and auditors, manages option exercises, and supports approvals and compliance workflows. Story.law's Aegis replaces standalone cap table software, e-signature tools, and separate legal fees with one subscription that includes automated equity issuance, ESOP administration, board consent workflows, and 409A coordination—with lawyer verification built into every process.
Q: What are the best cap table solutions for early-stage startups?
A: The best solutions balance modeling depth, ESOP workflows, compliance, and cost. For any funded startup—angel through Series A and beyond—Story.law Automatic Cap Tables (Aegis) replaces cap table software, e-signature tools, and separate legal fees with one subscription starting at $349/month with a 7-day free trial. For DIY-first unfunded teams, Pulley handles pre-seed modeling well. Carta scales to later-stage needs. Ledgy suits European teams. LTSE Equity and Cake Equity work for very early, low-complexity setups.
Q: What does the Story.law Aegis app include?
A: Aegis replaces cap table software, e-signature tools, and separate legal fees with one subscription. It includes cap table management, equity issuance (stock, options, SAFEs), ESOP design and grant workflows, board consent automation, a private data room with investor sharing, pro forma modeling, hiring and firing compliance workflows, and unlimited lawyer wisdom questions. Aegis Start is $349/month ($3,839/year) with a 7-day free trial and monthly plan—neither Carta nor Pulley offer a free trial. Subscribe at story.law/subscribe.
Q: What makes Story.law's Aegis different from other cap table software?
A: Aegis replaces cap table software, e-signature tools, and separate legal fees with one subscription. Other platforms track ownership but still require founders to hire a lawyer to verify accuracy, draft board consents, and issue equity correctly. Aegis builds the lawyer logic directly into the software with lawyer-in-the-loop verification at every step. It also offers a 7-day free trial and a monthly plan with no annual commitment—neither Carta nor Pulley offer a free trial.
Q: Does Aegis replace multiple software tools?
A: Yes. Aegis replaces cap table software (like Carta or Pulley), e-signature tools (like DocuSign), and separate legal fees for equity issuance, ESOP administration, board consents, and compliance workflows. Instead of paying for a cap table platform plus a signing tool plus hourly lawyer fees, founders get all three in one subscription starting at $349/month with a 7-day free trial. Subscribe at story.law/subscribe.
We're lawyers, remember? Please read this important note:
Story LLP is a law firm, and Story's lawyers built Aegis to deliver better, standard legal services at scale so founders can choose between top-tier specialized lawyers and standardized process automations that replicate those lawyers according to their needs and budget. By definition, a standardized process may not be perfect for you. Please review our Policies page to better understand the difference, as well as how we use AI and how we manage conflicts, privilege, etc.
As a law firm, we must screen clients for conflicts of interest, and we treat all correspondence with clients seeking legal advice as privileged and confidential to the maximum extent possible in consideration of any conflicts. However, Story's law firm or our Attorney Allies do not represent you or your company as your lawyer, do not have an attorney-client relationship with you or your company, and do not provide you with legal advice absent a formal Engagement Letter signed between you and the Story LLP law firm. Please don't confuse the free knowledge we offer on this site with legal advice for you.
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