Pitchbook
PitchBook Data, a Morningstar company since 2016, provides financial data and software focused on the private capital markets.
Profile
PitchBook provides a subscription-based data platform and research service covering private equity, venture capital, M&A, and other private market transactions.
PitchBook Data, a Morningstar company since 2016, provides financial data and software focused on the private capital markets. Founded in 2007 and headquartered in Seattle, the firm tracks more than 4.5 million companies, 3.5 million deals, 500,000 investors, and 200,000 funds. Its platform serves market intelligence, deal sourcing, due diligence, fundraising, benchmarking, and portfolio management use cases.
As of late 2025, PitchBook employed roughly 2,000 people, but in November 2025 it conducted an undisclosed round of layoffs, estimated by external trackers at 50–150 positions, citing a need to realign with market realities and invest in AI-driven analytics. The company publishes extensive research, including quarterly league tables and annual outlooks such as the 2026 US Private Equity Outlook, which noted that 30% of PE-backed assets are seven years or older and that exit activity must accelerate to clear the backlog. PitchBook’s customer base includes institutional investors, investment banks, law firms, and corporations; named logos on its site include BBVA, Fenwick, and Kayne Anderson.
The company competes directly with Preqin and CB Insights, and indirectly with Bloomberg’s private market data. Its ownership by Morningstar provides financial stability but also subjects it to parent-company cost discipline. The November 2025 layoffs, combined with a broader slowdown in venture capital and private equity dealmaking, have put pressure on the firm to automate data collection and shift toward higher-value enterprise accounts. PitchBook’s research division, which manually verifies private market data, is a focus of automation efforts.
Who buys this
- Private equity and venture capital firms
- Investment banks and corporate finance advisors
- Institutional investors (pension funds, endowments, family offices)
- Law firms and professional services firms serving private markets
- Corporate development and strategy teams
Publicly disclosed clients
- BBVA
- Fenwick
- Kayne Anderson
Strengths and what to watch
Strengths
- Owns one of the largest proprietary databases of private market transactions, with over 4.5 million companies and 3.5 million deals tracked.
- Backed by Morningstar, providing capital and distribution reach to institutional investors globally.
- Publishes widely cited league tables and market outlooks that are used as benchmarks by the private equity and venture capital industries.
Watch for
- November 2025 layoffs of an undisclosed number of employees, estimated at 50–150, as the company restructures amid a slowdown in dealmaking and shifts toward AI-driven data collection.
- Heavy reliance on manual data collection and verification, which is costly and may face quality challenges as automation is scaled.
- Intense competition from Preqin, CB Insights, and Bloomberg’s private market data offerings, which could erode pricing power and market share.
Recent moves
Key Information
- Industry
- Financial & Market Data
- Founded
- 2007
- Employees
- 3000
- Headquarters
- Seattle
- Country
- United States
Frequently Asked Questions
What is PitchBook and what does it do?
PitchBook is a subscription-based financial data platform and research service focused on private capital markets. It covers private equity, venture capital, M&A, and other private market transactions, serving institutional investors, investment banks, law firms, and corporations.
How much data does PitchBook cover?
PitchBook tracks over 4.5 million companies, 3.5 million deals, 500,000 investors, and 200,000 funds. This proprietary database is one of the largest in private markets, supporting use cases like deal sourcing, due diligence, and benchmarking.
Who are PitchBook's main customers?
PitchBook serves private equity and venture capital firms, investment banks, institutional investors like pension funds and endowments, law firms, and corporate development teams. Notable clients include BBVA, Fenwick, and Kayne Anderson.
Did PitchBook have layoffs in 2025?
Yes, in November 2025 PitchBook conducted an undisclosed round of layoffs, estimated at 50 to 150 positions. The company cited a need to realign with market realities and invest in AI-driven analytics amid a slowdown in private market dealmaking.
How does PitchBook compare to competitors like Preqin?
PitchBook competes directly with Preqin and CB Insights, and indirectly with Bloomberg's private market data. Its strengths include a large proprietary database and backing by Morningstar, but it faces pressure from competition that could affect pricing power.
What research does PitchBook publish?
PitchBook publishes extensive research including quarterly league tables and annual outlooks. For example, its 2026 US Private Equity Outlook noted that 30% of PE-backed assets are seven years or older, indicating a need for accelerated exit activity.
Sources
- pitchbook.com — Product portfolio, customer logos, and data coverage claims (4.5M+ companies, 3.5M+ deals, etc.)
- pitchbook.com — Existence and breadth of PitchBook's research publications
- pitchbook.com — PitchBook publishes quarterly global league tables
- pitchbook.brightspotcdn.com — Details on PE asset maturity, exit backlog, and 2026 outlook data
- www.bizjournals.com — November 2025 layoffs at PitchBook
- www.interviewpal.com — Estimated layoff range (50–150) and context of restructuring