Trusted by thousands of startups. Backed by top investors.
Configure once, issue in seconds
Issuing SAFEs on your own can save between $3-$5K in legal fees.
Create custom documents, modify terms, and save them as reusable templates to share with multiple investors.
Compliance made easy
We’ve simplified compliance for you.
Get automatic board approvals for new templates, retroactively fix non-compliant SAFEs in bulk, and detect mistakes before they hit your cap table.
Fundraise with confidence
Avoid any mistrust with investors and engage them like a pro.
Guided workflows, document templates, and a status-tracking dashboard ensure a smooth fundraising experience.
FAQ
What is a SAFE?
A Simple Agreement for Future Equity (SAFE) is an agreement that an early-stage startup makes with an investor—typically when raising money during a seed round.
What are common terms used in SAFEs?
- Valuation cap: the highest valuation at which the SAFE will convert into equity.
- Discount rate: the percentage discount that the SAFE's investor receives when converting their SAFE to equity in the future.
- Conversion price: the price at which the SAFE converts to equity, based on the valuation cap and discount rate.
- Investor rights: the rights and protections that investors have when investing in a startup through a SAFE. These are usually determined by the valuation cap, discount rate, and many more terms.
- Triggering event: an event that causes the SAFE to convert to equity, such as a qualifying financing round, acquisition, or IPO.
- Dilution: the reduction in ownership percentage that existing shareholders experience when new shares are issued during an equity round (including SAFEs that convert into shares).
- Pro rata rights: the right of an investor to participate in future equity financing rounds to maintain their ownership percentage.
- Most favored nations (MFN) provisions: a clause that ensures the investor receives the best terms of any future investor for the same security.
What is the difference between pre-money and post-money SAFEs?
A pre-money safe converts into equity based on the company's valuation immediately prior to the financing round, without accounting for the amount being invested, while a post-money safe converts into equity based on the company's valuation after accounting for the new investment.
Learn more about the difference here.
.png)
Start issuing SAFEs compliantly
and save thousands in legal fees with Pulley.
