PitchBook Wins 2017 GeekWire Award for Deal of the Year
May 08, 2017
Morningstar's $225 million acquisition of PitchBook earns the title for GeekWire's Deal of the Year category
SEATTLE, May 8, 2017 /PRNewswire/ -- PitchBook, the leading platform for private market information, today announced that it has won the 2017 GeekWire Award in the Deal of the Year category. Morningstar, a provider of independent investment research, acquired PitchBook in its entirety in December 2016. The transaction valued PitchBook - which now employs more than 640 people across multiples offices, including Seattle, New York and London - at $225 million. Morningstar was an early investor in PitchBook and owned approximately 20 percent of the nine-year old company at the time of the December acquisition. PitchBook's total funding was just $14.25 million, resulting in outsized returns for the company's early investors and a "big deal" for the company.
The GeekWire Awards honor members of the Pacific Northwest tech community across a variety of categories. This year, the GeekWire awards recognized PitchBook for the Deal of the Year category, which celebrates local dealmaking activity by recognizing the region's most impactful transactions. The Deal of the Year category, declared the most competitive field for this category ever by GeekWire, included worthy recipients like Rover, Impinj and Apptio.
"It's an honor to be recognized by GeekWire and the greater Pacific Northwest tech community for our recent acquisition by Morningstar," said John Gabbert, founder and CEO of PitchBook. "While the success of a deal is only measured over time, we are excited to continue our journey alongside Morningstar. This award is as much for me and the PitchBook-Morningstar family as it is for our team, our customers and everyone who believed in and supported us along the way."
PitchBook, delivers data, research, and technology through its flagship product, the PitchBook Platform. PitchBook covers the breadth of the private capital markets, including venture capital, private equity, and mergers and acquisitions (M&A) and serves more than 2,000 institutional clients, including the leading investors, lenders and service providers in the private and public markets. The PitchBook Platform offers a best-in-class user interface that makes it easy for clients to access hard-to-find data, discover emerging companies, and conduct research on potential investment opportunities.
"GeekWire awards winners are some of the most innovative, high-impact companies in the region," said co-founder of GeekWire, John Cook. "We congratulate all of this year's award winners and thank them for the contributions they have made to the Pacific Northwest tech community."
GeekWire is a Seattle-based technology news site that provides national breaking news, expert analysis and unique insights into the evolving technology industry. The news site boasts a large audience of loyal, tech-savvy readers from around the globe. Given its location, GeekWire has access to some of the most widely followed and innovative tech companies in the world, including Amazon and Microsoft, not to mention one of the most vibrant startup markets in the country.
PitchBook is the industry's leading resource for meaningful information about global VC, PE and M&A activity. PitchBook empowers over 2,000 institutional clients to make the most informed business decisions by providing them with the highest quality information on the entire investment lifecycle through its flagship product, the PitchBook Platform. This award-winning, web-based platform features a powerful suite of integrated technology that meets the diverse, data-driven needs of the private markets. For more information about PitchBook, visit: www.pitchbook.com.