You’ve provided total addressable market estimates for some of your key investment areas in the past. Would you please provide your estimate for PitchBook’s total addressable market and explain how and why you believe that PitchBook can capture market share over time?

January 11, 2019

PitchBook provides comprehensive, detailed data on the private and public markets—including companies, investors, funds, investments, exits and people—to help global business professionals discover and execute opportunities with confidence.

Our core customer segments:

More than 20,000 private market professionals currently use our robust suite of products to gather private market intel, fundraise, source investments, conduct due diligence, execute deals, or network and conduct business development. The core segments we serve include corporations, venture capital, private equity, financial advisories, institutional investors, lenders, and service providers like accounting and law firms.

Addressable market:

We apply a conservative approach to defining the PitchBook addressable market, identifying recently active firms and investors in our core customer segments with use cases that match what we offer. We utilized data from the PitchBook Platform to conduct our analysis and have estimated that the current addressable market for PitchBook totals approximately $1.8 billion between new business sales prospects and growth in our existing client base. PitchBook’s estimated penetration of the addressable market as of the last twelve months ended in Q3 of 2018 is approximately 5%.

We believe that PitchBook is well positioned to increase penetration through its quality of data and rigorous research process, continued product innovation, and sales and marketing process, which has resulted in a 3-year compound annual growth rate for revenue of approximately 60%.

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