Cake Equity focuses on equity management, while Round Funded helps founders find investors, send pitches and track replies. We at AI Perks looked at both and chose Round Funded for our fundraising round.
What is the difference between Cake Equity and Round Funded?
The products support different parts of startup fundraising. Cake Equity describes its platform as an equity management product for growing startups. Its listed features cover cap tables, ownership scenarios, equity incentives, SAFEs, convertible notes, investor relations and a Data Room.
Round Funded is built around investor discovery and outreach. Founders can search a database of 60,000+ active VCs, angels, family offices and accelerators by stage, industry, geography and check size.
We raised our round through Round Funded because of its clean investor database, an AI agent that writes emails, a convenient interface, the ability to invite teammates into the workspace, the Data Room and tracking links. We looked at Cake Equity, but we are not claiming to have used it.
| Fundraising need | Cake Equity | Round Funded |
|---|---|---|
| Equity records and cap-table planning | Lists cap-table modeling, equity incentives, SAFEs and convertible notes | Focuses on investor discovery, outreach and pipeline management |
| Investor search | Cake Equity does not list an investor database | Search investors by stage, industry, geography and check size |
| Outreach workflow | Cake Equity does not list an AI agent for founder outreach | AI drafts personalized emails and follow-ups |
| Materials and engagement | Lists a Data Room | Data Room links are available on every plan; tracked links and engagement analytics come with Round+ |
Cake Equity’s stated features address equity records. Round Funded’s features support investor search and outreach, the work we chose it for. Submit your startup on Round Funded to get matched with investors.
What does Cake Equity include?
Cake Equity says its platform is designed for growing startups managing equity decisions. Its listed capabilities include cap-table scenario modeling, founder vesting, warrants, equity incentives, stock options, restricted stocks and equity benchmarking. It also lists an employee app, an AI document scanner, investor relations and a Data Room.
Cake Equity says founders can track SAFEs and convertible notes through conversion, and that scenario modeling uses current cap-table data as its baseline. The free plan includes basic modeling for up to five stakeholders. Build supports single-round modeling, while Team and Pro support unlimited multi-round calculations. Scenario modeling is available on paid plans.
These features focus on ownership and equity records. We chose Round Funded for investor search, email drafting and fundraising pipeline management.
How much does Cake Equity cost?
Cake Equity lists a free option and several paid plans:
- Free: $0 for a cap table with up to five stakeholders, with no credit card required. The plan includes setting up share classes, recording SAFEs and convertible notes, and modeling a round to see dilution for five or fewer stakeholders. Above five stakeholders, the cap table is read-only. Actions such as issuing equity, inviting stakeholders, converting SAFEs and modeling a round require a paid plan above that limit.
- Build: $1,000 annually, including 25 stakeholders.
- Team: $2,750 annually, including 40 stakeholders.
- Pro: Custom-priced, with annual and quarterly billing available.
- SPV: $500 per year.
Cake Equity also says cap-table migration costs nothing, whether or not a customer buys a plan. Users can upload data with bulk importers or provide reports for its Customer Success team to build the cap table, typically within 48 business hours.
Round Funded costs $99 a month for Round+, $249 a month for Round Pro, or $899 one-time for Lifetime. Round+ and Round Pro have a 3-day free trial for first-time accounts, and there is no free tier. Round+ includes a CRM pipeline for up to 2,500 investors, email to up to 2,000 investors a month and 2,500 AI credits a month. Round Pro supports up to 5,000 pipeline investors, 10,000 emails a month, 5,000 AI credits a month and up to 6 connected inboxes. Lifetime includes everything in Round Pro for a one-time payment.
The plans serve different needs: Cake Equity lists equity-management features, while Round Funded supports investor discovery and outreach. Get matched with active investors by submitting your startup.
Why did we choose Round Funded?
We at AI Perks raised our round through Round Funded. We chose it for its clean investor database, AI email-writing agent, convenient interface and teammate invitations.
The fundraising pipeline keeps investors, stages and next steps together. AI drafts personalized outreach emails and follow-ups for each investor. Outreach goes from the founder’s own Gmail, so replies land in the founder’s inbox and the thread belongs to the founder.
The Data Room was another reason for our choice. It puts a deck, traction, team and ask on one link, and is free to build and share on every plan. Round+ adds per-investor tracked links and engagement analytics, including views, deck opens and meeting clicks.
What else can founders do with Round Funded?
The investor database covers 60,000+ active VCs, angels, family offices and accelerators. Search filters include stage, industry, geography and check size. Investors are filtered to recent activity, with a check in roughly the last 6 months, and emails are verified.
Round Funded’s site and product work in 12 languages. It also lists accelerators including YC, Techstars, Antler, 500 and 100+ regional programs, matched by stage, industry and region. Other resources include a pitch deck benchmark made from 342 real decks from startups that closed the round, and 6,200+ YC companies listed by batch with application reconstructions based on public data.
How Round Funded helps founders raise
- Submit your startup to get matched with investors.
- Search the investor database using stage, industry, geography and check size.
- Use AI to draft a personalized outreach email and follow-ups for each investor.
- Organize investors, stages and next steps in the pipeline, and invite teammates into the workspace.
- Build and share a Data Room with your deck, traction, team and ask. Round+ includes per-investor tracked links and engagement analytics.
Frequently Asked Questions
Is Cake Equity the same as Round Funded?
No. Cake Equity describes equity-management features, including cap-table modeling, SAFEs and convertible notes. Round Funded focuses on finding investors, sending pitches and tracking fundraising activity. We chose Round Funded for our round.
What does Cake Equity’s free plan include?
Cake Equity lists its free plan at $0 for up to five stakeholders. It includes share classes, recording SAFEs and convertible notes, and modeling a round for dilution. Above five stakeholders, the plan is read-only, and certain actions require a paid plan.
Does Cake Equity have investor outreach tools?
Cake Equity’s listed features cover equity management, cap tables, equity instruments, investor relations and a Data Room. They do not describe an investor database or an AI agent that drafts founder outreach emails. Round Funded includes investor search and AI-drafted outreach.
How much does Round Funded cost?
Round+ costs $99 a month, Round Pro costs $249 a month, and Lifetime costs $899 one-time. Round+ and Round Pro include a 3-day free trial for first-time accounts. There is no free tier.
Why did AI Perks choose Round Funded?
We raised our round through Round Funded. We chose it for its clean investor database, AI email-writing agent, convenient interface, teammate access, Data Room and tracking links.