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The private technology market is hotter than ever, with valuations for companies like OpenAI, SpaceX, Anthropic, and Stripe rising to astronomical levels.
PitchBook, one of the top providers of data about startups, wants to give users easy access to information about these companies and many others. On Monday, Pitchbook introduced an artificial intelligence-powered tool that provides market insights based on user prompts.
Rather than having to find a company’s profile page and search for specific information, subscribers can ask questions of an AI assistant called PitchBook Navigator to get facts and figures about trades and market trends. The company also integrates with OpenAI, giving paid users direct access to information through ChatGPT.
These insights are generated using PitchBook data and a combination of AI and human expertise. Navigator will be available to subscribers in late November.
“AI is transforming every corner of business, and having spent nearly two decades building a foundation of trusted, comprehensive data, PitchBook is uniquely positioned to lead in a new era of civilian market intelligence,” Thomas Van Buskirk, the company’s executive vice president of technology and engineering, said in a press release.
PitchBook is rolling out AI enhancements as investors seek access to private market trades and data. OpenAI reached a $500 billion valuation in October, surpassing the $400 billion valuation that SpaceX reported in a secondary sale, making it the world’s most valuable private company. Anthropic announced a funding round in September at a valuation of $183 billion.
Traditional financial companies are actively moving into the private market. charles schwab last week agreed to acquire pre-IPO stock exchange Forge Global for $660 million. In October, goldman sachs Acquired $7 billion venture capital firm Industry Ventures. morgan stanley Announced that it will acquire private equity platform EquityZen.
For PitchBook, ChatGPT is the latest addition to our large-scale language model integration. In late October, the company partnered with Anthropic to make private market data available to subscribers directly within Claude.
Spotlight: CEO Charles Schwab on $660 million Forge acquisition
