Cake Equity review: cap table, stock options, 409A and compliance software for startups. Free plan, paid plans from $1000 per year. See features and pricing.
Researched and fact-checked by Bartu Cavusoglu · Updated October 26, 2026
Cake Equity is a cloud-based equity management platform built for growing startups. At its center is a cap table that records shares, stock options, SAFEs, convertible notes, warrants and special purpose vehicles in one place, so founders, finance teams, attorneys and investors work from the same data.
The company describes the product as an equity platform that goes beyond record keeping, covering grants, fundraising, compliance and employee ownership. It says more than 10,000 companies use it and cites a 4.8/5 rating on G2.
Cake positions itself against Carta and Pulley. Its website features customer stories from companies that switched from Carta, and it states that Carta switchers save an average of 48%.
New users can start free, add their data and see the cap table live. Companies moving from Carta, Pulley or a spreadsheet use managed migration: you drop in the exported files, such as cap table, stakeholder and vesting data, and a person on Cake's team reconciles every row against the source before anything goes live.
You can view the migrated cap table in Cake before paying, and nothing switches until you confirm it is correct. The pricing page says most migrations finish in 48 hours, or 2 to 5 business days, depending on complexity.
Once live, equity actions run through workflows: grants go through board approval and e-signing, vesting notifications run automatically, and stakeholders see their holdings through the My Cake portal.
The cap table supports multiple share classes, founder vesting, transfers, repurchases, share splits, warrants and SPVs, and keeps a timestamped audit log of every change. Scenario modeling shows how a new round affects ownership, including SAFE conversions.
For equity incentives, Cake handles ISO, NSO, RSU and RSA grants, with benchmarks for employee and advisor grants, a custom contract editor and an options exercising flow. Capital raise tools include SAFEs, convertible notes and an investor app.
The compliance layer covers 409A valuations, 83(b) elections, Form 3921, Rule 701 tracking, ASC 718 reporting and QSBS tracking. Cake MCP lets users connect Claude, Codex or another AI assistant to ask plain-English questions about their own cap table.
Cake Equity is cap table and equity management software for growing startups. It handles share and option tracking, SAFEs, convertible notes, 409A valuations and US compliance reporting. The company says more than 10,000 companies use it.
Cake has a free plan for up to 5 stakeholders. Build costs $1000 per year, Team costs $2750 per year and Pro is custom-priced. Add-ons such as a 409A valuation ($1,500 per year) and QSBS ($500 per year) are extra unless included in your plan.
Yes. The Free plan includes a cap table, stock options and SAFE notes for up to 5 stakeholders, and no credit card is required. Paid plans start at $1000 per year.
Team and Pro include two 409A valuations a year. On Build, or if you need an extra one, a 409A can be added to any annual plan for $1,500.
Yes. Cake offers free managed migration from Carta, Pulley or a spreadsheet. You upload your files, a team member reconciles the data, and you can see your cap table in Cake before you pay. The pricing page says most migrations finish in 48 hours, or 2 to 5 business days.
The sources name Cake MCP, which connects Claude, Codex or any AI assistant to your cap table. It is included on the Team plan. Other third-party integrations are not listed in the sources.
Cake is aimed at growing startups from seed to Series C and beyond, including founders, finance teams, HR, attorneys and investors. It is a fit for companies that want US compliance features and are comparing it to Carta or Pulley.
No. The company says it supports companies from seed through Series A, B and beyond, and states it has three times Pulley's share of mid-market customers (51-1,000 employees) on G2.