PitchBook Data Inc. has launched a free access program for startups, announced at the Web Summit in Lisbon. The initiative targets founders who are currently seeking their first institutional funding round and possess at least a product mockup. Participants must provide details regarding their financials, leadership team, and product to gain access to the platform's investor research tools.
Alongside the startup program, the company introduced Origin, a deal-sourcing service. The platform covers approximately 25 million companies and 250 million individual profiles, including 15 million companies previously unknown to PitchBook. The service utilizes machine learning models and third-party data enrichment to provide investor insights and real-time alerts.
The company, founded in 2007 and based in Seattle, currently serves over 100,000 clients globally. It has been a subsidiary of Morningstar Inc. since 2016. According to Chief Solutions Officer Paul Santarelli, the new service aims to provide visibility into the pre-funding stage of companies, which is often difficult for investors to track.
Origin is available as a standalone product or as an add-on to the main PitchBook platform. The company reports that the number of first-time financings in the U.S. surpassed the 2021 record by the end of September. PitchBook attributes part of this market growth to AI tools, which have reduced the time required for investor due diligence.
