PitchBook Data

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.[4] It is based in Seattle, Washington, with regional offices in London, San Francisco, New York City, Mumbai and Hong Kong.

PitchBook Data, Inc.
Subsidiary
IndustryMergers and Acquisitions, Private Equity and Venture Capital
FoundedSeattle, WA - March 2007
FounderJohn Gabbert
Headquarters
Seattle, Washington
,
United States
Number of locations
London, New York City, San Francisco, Mumbai, Hong Kong
Key people
John Gabbert, founder and CEO[1]
ProductsThe PitchBook Platform, PitchBook Mobile
Revenue$99.6 million(2018)[2]
Number of employees
1,000 (Oct 2019)[3]
ParentMorningstar, Inc.
Websitepitchbook.com

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.

Products

PitchBook products include:

  • PitchBook Desktop
  • PitchBook Mobile
  • PitchBook Direct Data
  • PitchBook CRM Integration
  • PitchBook Chrome Extension

Functionality

Within the PitchBook Platform, users can access a variety of analysis tools to run targeted searches, research emerging technologies, build financial models, create data visualizations, and build custom benchmarks and comps.

History

PitchBook was founded in 2007 by John Gabbert.[5] In 2009, it received investment of $4.25 million from angel investors and Morningstar,[6][7] and a further $10 million from Morningstar in January 2016.[3] 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.[4]

As of October 2019, its workforce included over 1,000 employees worldwide[8], including full-time contractors.

Company timeline:

  • March 2007: PitchBook founded by John Gabbert[9]
  • January 2009: Launched flagship product, PitchBook Desktop[10]
  • April 2014: Launched PitchBook Mobile App[11]
  • July 2014: Opened London office[12]
  • December 2016: PitchBook acquired by Morningstar for $225M[13]
  • February 2017: Added company financial data for 266K companies to mobile app[14]
  • October 2017: Released PitchBook Extension for Google Chrome[15]
  • December 2017: Launched benchmark product[16] providing transparency into quarterly private fund performance
  • June 2018: Launched PitchBook Suggestions[17], 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[18]
  • May 2019: Launched PitchBook Emerging Technology Research[19], which helps clients better understand emerging technology sectors
  • July 2019: Rang the Nasdaq stock market opening bell with Morningstar[20]
  • November 2019: Launched PitchBook Emerging Spaces and Market Maps[21], 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[22]. PitchBook has maintained a 95% CAGR over 10 years[23].

Awards

PitchBook has won the following awards:

  • Named Best Workplace by Puget Sound Business Journal five times[24]
  • Recognized as a Best Company to Work for by Seattle Business Magazine[25]
  • Won the 2017 GeekWire Award for Deal of the Year[26]
  • Won the CODiE Product Award eight times[27]
  • Named Best Research Provider by PE Wire in London in 2019[28]  
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References
  1. "John Gabbert: 2013 40 Under 40 Honoree (Video)". Puget Sound Business Journal. September 13, 2013. Retrieved October 9, 2013.
  2. https://newsroom.morningstar.com/newsroom/news-archive/press-release-details/2019/Pitchbook-has-had-impressive-organic-growth-Can-you-give-some-insight-into-what-is-driving-the-growth/default.aspx
  3. "Morningstar buys Seattle start-up in $225 million deal". Seattle Times. Retrieved 2016-10-15.
  4. "Morningstar completes acquisition of PitchBook". Retrieved 2016-12-01.
  5. "Executive Q&A with PitchBook CEO John Gabbert". Seattle Business Magazine. Retrieved 2017-07-01.
  6. "About". pitchbook.com. Retrieved 2016-02-02.
  7. Dealbook. "Morningstar Invests in PitchBook". DealBook. Retrieved 2016-02-02.
  8. "PitchBook Grows Rapidly as Companies Stay Private". Puget Sound Business Journal. 2019-11-18.
  9. "Executive Q&A: PitchBook CEO John Gabbert". Seattle Business Magazine. 2017-07-01.
  10. "University of Washington Career Fair PitchBook". University of Washington Career Fair PitchBook. 2019-01-01.
  11. "PitchBook Data Launches Mobile PE and VC app". Private Equity Wire UK. 2014-04-22.
  12. "PitchBook adds Nearly 200,000 European Companies and Their Complete Financials to Award-Winning Platform". PR Newswire. 2017-10-19.
  13. "Morningstar buys Seattle startup PitchBook in $225 million deal". Seattle Times. 2017-10-14.
  14. "PitchBook brings company financial data to its mobile app". TechCrunch. 2017-02-13.
  15. "PitchBook Platform Streamlines Digital Workflow with New Chrome Extension and Digital Collaboration Tools". CEO.CA. 2017-10-24.
  16. "PitchBook Unveils New Benchmark Product Providing Unprecedented Transparency into Private Fund Performance". PR Newswire. 2017-12-14.
  17. "PitchBook now offers users suggested companies when they search". TechCrunch. 2018-06-19.
  18. "PitchBook Integrates Morningstar Thematic Research into Redesigned Research Center". PR Newswire. 2018-07-19.
  19. "PitchBook Launches New Research Product to Help Clients Better Understand Emerging Technology Sectors". PR Newswire. 2019-05-21.
  20. "PitchBook and Morningstar Ring Nasdaq Stock Market Opening Bell". Yahoo! Finance. 2019-07-29.
  21. "PitchBook Launches New Tools to Enhance Discovery and Understanding of Emerging Technology Sectors". Daily Record News. 2019-11-20.
  22. "PitchBook has had impressive organic growth. Can you give some insight into what is driving the growth?". Morningstar News Room. 2019-03-18.
  23. "PitchBook Platform Named Best Financial & Market Data Solution by SIIA for Eighth Consecutive Year". PR Newswire. 2019-06-14.
  24. "PitchBook Named Best Workplace by Puget Sound Business Journal for the Fifth Year". PR Newswire. 2019-08-30.
  25. "100 best companies to work for snapshot: PitchBook". Seattle Business Magazine. 2016-07-01.
  26. "Revealed: Winners of the 2017 GeekWire Awards". GeekWire. 2017-05-04.
  27. "PitchBook Platform Named Best Financial & Market Data Solution by SIIA for Eighth Consecutive Year". PR Newswire. 2019-06-14.
  28. "Private Equity Wire Names PitchBook as Best Research Provider". PR Newswire. 2019-03-20.
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