PitchBook Data, Inc., a Seattle, WA-based platform for research, data, and technology for professionals in the private equity, venture capital, and M&A markets, raised $10m in second funding.
Existing investor Morningstar made the investment bringing its ownership stake to about 20%. The transaction values PitchBook at approx. $160m.
The company, which had raised $4.25m in Series A funding in 2009, intends to use the funds to expand data coverage and develop additional features and product extensions, and grow the teams in Seattle, New York, and London.
PitchBook has grown significantly and has generated positive cash flow over the past five years. In 2015, sales rose more than 68% to $31 million, and the company is targeting similar growth in 2016.
Led by John Gabbert, founder and CEO, PitchBook provides a web-based platform for information about global M&A, PE and VC activity that enables users to access and analyze details across the entire private investment lifecycle—from fund initiation to company exit. This includes data on companies, investors, executives, and advisors, in addition to information such as valuations, deal terms, fund performance, and benchmarks.
The company currently has more than 1,400 customers—which include private equity and venture capital firms and investment banks, as well as a number of Fortune 500 companies, prominent institutional investors, and other service providers.
The company plans to hire more than 100 new employees this year, bringing its total headcount to more than 600.