PitchBook Data, Inc. is a SaaS company that delivers data, research and technology covering the private capital markets, including venture capital, private equity and M&A transactions. It is based in Seattle, Washington, with regional offices in London, San Francisco, New York City, Mumbai and Hong Kong. To collect its data, PitchBook uses machine-learning and natural language processing technology to review publicly available sources. It also has a team of more than 600 quality assurance researchers who conduct primary research. The company's core product, the PitchBook Platform, is a subscription-only database that includes analytical tools which help users make sense of the information it collects on companies, investors, deals, mergers and acquisitions, funds, advisors and people. The company also provides commentary and analysis of current events, trends and issues relevant to the capital markets through its daily newsletter and quarterly reports.
PitchBook was founded in 2007 by John Gabbert. In 2009, it received investment of $4.25 million from angel investors and Morningstar, and a further $10 million from Morningstar in January 2016. In December 2016, Morningstar entered into a definitive agreement to acquire PitchBook, paying approximately $180 million for the remaining ownership in a transaction that valued PitchBook at $225 million. PitchBook maintains its brand and identity, and its founder and CEO, John Gabbert, continues to run the company. As of October 2019, its workforce included over 1,000 employees worldwide, including full-time contractors. Company timeline:
March 2007: PitchBook founded by John Gabbert
January 2009: Launched flagship product, PitchBook Desktop
April 2014: Launched PitchBook Mobile App
July 2014: Opened London office
December 2016: PitchBook acquired by Morningstar for $225M
February 2017: Added company financial data for 266K companies to mobile app
October 2017: Released PitchBook Extension for Google Chrome
December 2017: Launched benchmark product providing transparency into quarterly private fund performance
June 2018: Launched PitchBook Suggestions, a tool that leverages machine learning to automatically refine search results and increase discovery of new opportunities
July 2018: Integrated Morningstar thematic research into PitchBook's Research Center
May 2019: Launched PitchBook Emerging Technology Research, which helps clients better understand emerging technology sectors
July 2019: Rang the Nasdaq stock market opening bell with Morningstar
November 2019: Launched PitchBook Emerging Spaces and Market Maps, two tools that help clients discover, analyze and understand undefined sectors
Finances
In 2018, PitchBook generated more than $99.6 million in revenue - up 56.6% from the previous year. PitchBook has maintained a 95% CAGR over 10 years.
