PitchBook gives data to guide business decisions of venture capital professionals- report

By Nicel Jane Avellana

Nov 10, 2013 07:50 PM EST

Seattle-based startup PitchBook was established by John Gabbert while working at VentureSource, a company that provided data to venture capitalists. PitchBook's flagship product, the Pitchbook Platform, enables venture capital professionals understand the market and make decisions accordingly. Established six years ago, Gabbert's startup now has a 175-strong workforce and is one of the leading information portals for those in the private equity and venture capital industries.

By combining data and technology, PitchBook is able to calculate numbers and give unique news, market data and analysis about the events in the industry.

In an interview with technology website GeekWire, John Gabbert said the online research tool is aimed at helping industry professionals make better business and investment decisions. When asked where the inspiration to form PitchBook came from, Gabbert said, "Years ago, people kept asking for accessible, transparent private equity data and there simply wasn't a tool that met their needs. Inspiration was as simple as that: a need exists and we have the capability to meet it. Then, once we had established ourselves in the private equity market, we took on venture capital, too."

According to Gabbert, they were supported by angel investors and Morningstar, a strategic investor. He said that PitchBook's investors truly comprehend the private investment industry and believe in their work. He added, "Their confidence in us is as much of a motivator as their financial backing."

Gabbert said the company started out with a weak sales strategy which didn't allow the company to grow. Now, he said PitchBook has two core teams in Seattle and New York and have adopted the "Customers are King" philosophy as far as sales are concerned.

He added that the company also has a talented team on its roster. "A product can only be as strong as the people behind it, and we have worked hard to build a great team of smart and hardworking employees who don't settle for anything less than excellence," he told GeekWire.

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