Cake Equity review

Cake Equity covers the full early-stage equity cycle in one place: the cap table, SAFEs and convertible notes, option and RSU grants, and the 409A valuations that set strike prices. Its pricing page is unusually clear. The free plan covers 5 stakeholders, Build costs $1,000 a year for 25 and includes templated option grants, board approvals, fundraising modeling and integrated e-signing, and Team costs $2,750 a year for 40 stakeholders with two 409A valuations included. Team also adds a full contract editor for SAFEs, options and RSUs, integrated option exercising, warrants and AI access through MCP, so a founder can query the cap table from Claude or another assistant. Pro, priced on request, adds audit-ready ASC 718, Form 3921 and Rule 701 reporting plus a dedicated Slack channel. Cake also lists country pages from the US and UK to Australia and Singapore, which helps distributed teams. The main limits are the small free tier and add-on fees for QSBS and SPVs on lower plans.

Who it is for

Startups that want two 409A valuations a year bundled into one annual plan, or that operate outside the US.

Price

Free up to 5 stakeholders; Build $1,000 per year for 25 stakeholders; Team $2,750 per year with two 409A valuations.

Build Grant options with e-sign $ 1000 annually
Quoted from the vendor pricing page on November 9, 2026.

Key features

• Cap table with SAFEs, convertible notes, warrants, founder vesting and share certificates
• ISO, NSO, RSU and RSA grants with board approval flows and e-signing
• Two 409A valuations a year included on Team and Pro
• AI access through MCP to connect Claude, Codex or other assistants to the cap table
• ASC 718, Form 3921, Rule 701 and ESS reporting on Pro

Strengths and weaknesses

• Strength: Team plan bundles two 409As a year, which suits companies that raise or hire often
• Strength: Free managed migration from Carta or Pulley, reconciled by a person before go-live
• Strength: Country pages for the US, UK, Australia, Canada, Singapore and more
• Weakness: The free plan stops at 5 stakeholders
• Weakness: Team and Pro are annual only
• Weakness: QSBS, SPV and stock-based compensation add-ons cost $500 per year each below Pro

Key facts

• Free: Up to 5 stakeholders
• Build: $1,000 per year, 25 stakeholders
• Team: $2,750 per year, 40 stakeholders, two 409As
• 409A add-on: $1,500 per year
• Migration: Free, managed

Where it ranks

Cake Equity is No. 2 in our Best Cap Table Management Software verdict.