Friday, October 14, 2016

PitchBook Acquired For $225M By Morningstar

Seattle-based venture data provider PitchBook Data has been acquired by Morningstar, in a deal worth $225M, the companies announced this morning. PitchBook--which was founded an is led by John Gabbert--said that the company's executives, including Gabbert, will remain in their roles. Gabbert founded PitchBook nine years ago. Morningstar was one of the company's primary investors, and had led PitchBook's Series B funding in January--and already owned 20% of the company. The acquisition comes shortly after PitchBook inked a deal to replace Thomson Reuters in providing the National Venture Capital Association (NVCA)'s quarterly venture reports. PitchBook's Gabbert says it now has more than 600 employees. PitchBook had raised only $13.0M in total in funding