PitchBook started in a windowless office in 2007, with seven employees packed into a 200-square-foot space. Nearly 13 years later, PitchBook has grown to be an international company with over a thousand employees.
Today PitchBook has provided a snapshot of just how much it has grown and shared further plans for expansion.
PitchBook provides data about private and public equity markets. While its headquarters is located in Seattle, the company has offices in New York, San Francisco and London as well. The company announced today that it has added 50,000 square feet of space across all of these locations.
This includes expanding the New York office from 34,000 square feet to 51,000 square feet. It now takes up three floors of a Manhattan office building on Park Avenue South — not far from the Flatiron Building.
The NYC office is home to PitchBook's sales and customer success teams, and will soon expand to include HR and marketing.
PitchBook says it’s expanding all of its offices to accommodate a rapidly growing employee headcount. The company has plans to hire more than 300 new employees globally in 2020 — at least 200 of these new hires will be based in Seattle or New York. After that, PitchBook plans to hire 200 more employees in 2021.
PitchBook has 1,200 employees worldwide, which is more than double what the company had in 2016. The company has managed to maintain a 95 percent compound annual growth rate for the last 10 years, but 2016 is an especially important year for PitchBook because it was acquired that year by Morningstar for $225 million.
Since then, Morningstar has let PitchBook operate as an independent subsidiary. The acquisition gave PitchBook the fuel it needed to grow rapidly, however.
“As our product user base nears 33,000 users and we look to accelerate our innovative roadmap, our operations need to grow and scale to support,” John Gabbert, founder and CEO of PitchBook, said in a statement. “This rapid growth, especially in EMEA, is key as we work to add even more differentiated datasets and workflow tools that meet the needs of our global clients.”