# Cap table management for enterprise buyers: what AI models recommend, September 2026

Gane Index, September 2026 Edition. Asked as "cap table management software" and as "equity management platform", six framings each, to twelve models with search on, on behalf of an enterprise B2B company. Page: https://www.gane.ai/index/finance/corporate/cap-table-management/2026-09/enterprise

This is the permanent record of the September 2026 Edition, published September 17, 2026 and superseded since. The current standing: https://www.gane.ai/index/finance/corporate/cap-table-management/enterprise/index.md

**Standing:** Carta Equity leads with 34% of first choices; verdict contested. 44 first choices across the direct, paraphrase, budget and scale prompts.

## First-choice share

| Rank | Product | Share | Negative rate | Labels |
|---|---|---|---|---|
| 1 | [Carta Equity](https://www.gane.ai/index/finance/vendors/carta-equity/index.md) | 34% | 31% | 62 |
| 2 | [Shareworks](https://www.gane.ai/index/finance/vendors/shareworks/index.md) | 23% | 15% | 55 |
| 3 | [Qapita](https://www.gane.ai/index/finance/vendors/qapita/index.md) | 9% | 12% | 26 |
| 4 | [J.P. Morgan Workplace Solutions](https://www.gane.ai/index/finance/vendors/j-p-morgan-workplace-solutions/index.md) | 9% | 11% | 18 |
| 7 | [Pulley](https://www.gane.ai/index/finance/vendors/pulley/index.md) | 5% | 52% | 42 |
| 8 | [Astrella](https://www.gane.ai/index/finance/vendors/astrella/index.md) | 2% | 18% | 17 |
| 9 | [Eqvista](https://www.gane.ai/index/finance/vendors/eqvista/index.md) | 2% | 39% | 18 |
| 11 | [Ledgy](https://www.gane.ai/index/finance/vendors/ledgy/index.md) | 0% | 16% | 37 |
| 36 | [Cake Equity](https://www.gane.ai/index/finance/vendors/cake-equity/index.md) | 0% | 58% | 12 |

Rank is by share of first choices among all 37 products named; products with the same share are tied, and the order among them carries no meaning. The table lists those with at least 10 labels.

## Each model's first choice on the direct prompt

- Claude Haiku 4.5: Shareworks; alternatives Carta Equity, Ledgy, Qapita
- GPT-5.4 mini: Carta Equity; alternatives Ledgy
- Gemini 3.5 Flash: Carta Equity; alternatives Astrella, Fidelity Private Shares, Ledgy, Shareworks
- Perplexity Sonar: Carta Equity, Qapita; alternatives Pulley
- Grok 4.20: Carta Equity; alternatives Certent Equity Management, Fidelity Private Shares, J.P. Morgan Workplace Solutions, Shareworks
- Mistral Small: Carta Equity; alternatives Astrella, Pulley
- DeepSeek V4 Flash: Carta Equity; alternatives Ledgy, Shareworks
- Llama 4 Maverick: no first choice
- Qwen 3.7 Flash: Carta Equity; alternatives Ledgy, Shareworks
- Kimi K2: Carta Equity; alternatives Pulley, Shareworks
- GLM 4.7 FlashX: Carta Equity; alternatives Qapita, Shareworks
- MiniMax M2.5: Carta Equity; alternatives Ledgy, Pulley, Shareworks

## Sources the answers cite

69 of 72 answers came back with a source list, from 12 of 12 models. Sites named in the most answers:

- guideflow.com: 44 answers, 46 citations
- qapita.com: 41 answers, 73 citations
- cakeequity.com: 39 answers, 43 citations
- valueaddvc.com: 35 answers, 44 citations
- ctacquisitions.com: 33 answers, 33 citations
- carta.com: 31 answers, 48 citations
- waveup.com: 25 answers, 25 citations
- eqvista.com: 24 answers, 38 citations

Pages named in the most answers:

- https://guideflow.com/blog/cap-table-management-software (38 answers)
- https://ctacquisitions.com/best-cap-table-software-2026 (33 answers)
- https://cakeequity.com/guides/best-cap-table-software (28 answers)
- https://valueaddvc.com/blog/best-cap-table-management-tools-in-2026-carta-pulley-angellist-capdesk-ranked (25 answers)
- https://waveup.com/blog/best-cap-table-management-software (25 answers)
- https://qapita.com/blog/best-cap-table-management-software (24 answers)
- https://aifundingtracker.com/best-cap-table-management-software (19 answers)
- https://learn.g2.com/best-equity-management-software (19 answers)
- https://eqvista.com/equity-management-software (17 answers)
- https://resources.rework.com/tools/equity-cap-table/carta-vs-shareworks (16 answers)

## Warned against

- Pulley: 22 of 42 labels negative. "the main platforms to avoid or treat cautiously ... that usually means tools like Pulley, Eqvista, Cake Equity" (Perplexity Sonar, negative prompt)
- Carta Equity: 19 of 62 labels negative. "Carta – Approach with Significant Caution ... Carta was caught using confidential customer cap table data to broker secondary share sales without explicit disclosure." (Kimi K2, negative prompt)
- Shareworks: 8 of 55 labels negative. "drawbacks include heavy rollout effort, quote-based pricing ($50K+ typical), and lower user ratings (~3.2/5 on Capterra)" (Grok 4.20, negative prompt)
- Cake Equity: 7 of 12 labels negative. "Platforms to Avoid for Large Enterprises:
- Pulley, Cake Equity, Ledgy, Qapita (early tiers), AngelList Equity" (Grok 4.20, negative prompt)

## Record

- Method: https://www.gane.ai/index/finance/methodology
- License: CC BY 4.0. Cite as Gane Index, September 2026 Edition, www.gane.ai/index/finance.