In a response published on August 23, 2023, we shared detail on the composition of PitchBook’s customer base by segment, including the company or corporate segment, which accounted for 31% of total logos as of April 2023. We also noted that the share of annual contract value (ACV) attributable to the company segment was slightly lower than the percent by logo count. The company segment continues to be our most vulnerable segment in the current market environment, with particular vulnerability with start-ups and corporate development teams.

Our corporate clients span a relatively wide range of different company sizes from smaller privately backed businesses to large multinational corporations. We do not disclose churn or renewal rates beyond the key product area level or additional breakdowns of PitchBook’s customers beyond the segment information detailed in the August response. That said, retention rates for this segment remained relatively steady for the first half of 2023. We plan to provide an update on the PitchBook product area in our third quarter earnings materials.