As private tech market heats up, PitchBook makes startup data available via ChatGPT

As the private tech sector experiences unprecedented growth, highlighted by companies such as OpenAI, SpaceX, Anthropic, and Stripe reaching remarkable valuations, PitchBook is stepping up to facilitate easier access to crucial startup data. On Monday, PitchBook launched an innovative AI-driven tool designed to deliver insights based on user inquiries. This advancement allows users to bypass the traditional method of searching for specific information on company profile pages. Named PitchBook Navigator, the AI assistant empowers subscribers to obtain facts and figures regarding market trends and deals simply by posing questions. In a significant enhancement, PitchBook is also integrating its services with OpenAI, enabling premium users to retrieve data directly through ChatGPT. The insights provided by this tool combine PitchBook's extensive data repository with both AI capabilities and human expertise. The rollout of this AI feature comes at a pivotal moment when demand for private market data and deal information is soaring. In October, OpenAI achieved a staggering $500 billion valuation, making it the most valuable private entity, surpassing SpaceX's $400 billion valuation from a secondary sale. Additionally, Anthropic recently announced a funding round that valued the company at $183 billion. Traditional financial institutions are rapidly entering the private market as well; for instance, Charles Schwab recently agreed to acquire Forge Global, a pre-IPO shares marketplace, for $660 million. Similarly, Goldman Sachs has purchased the $7 billion venture capital firm Industry Ventures, and Morgan Stanley is set to acquire the private shares platform EquityZen. According to Thomas Van Buskirk, PitchBook's executive vice president of technology and engineering, "AI is transforming every corner of business, and after nearly two decades of building a foundation of reliable, comprehensive data, PitchBook is uniquely positioned to lead this new era of private market intelligence." This sentiment reflects the broader trend of innovation as PitchBook continues to enhance its offerings, including a recent partnership with Anthropic to make its private market data available through Claude for subscribers.