Innovative companies seek out technology banking
The Seattle-based company PitchBook turned to Wells Fargo when it needed a financial services provider that excels at technology banking.
PitchBook, a Seattle-based company, found its niche providing leading data and research to the private equity and venture capital industry. PitchBook looks at every stage of a transaction and integrates tools to meet the diverse needs of all types of users, from general partners and limited partners to service providers, advisors, and analysts.
“Our client base is very broad,” says founder and CEO John Gabbert. “Anyone interested in private capital is a potential client.”
John started PitchBook nine years ago after working in the industry. “People and companies were always asking for more data and better data to help generate leads and sales,” he says.
PitchBook generates leads by providing invaluable information, such as details on board members, deal history, and company valuations to those who subscribe to its platform.
Rob Swanson of the Wells Fargo Technology Banking group says, “PitchBook data shows who are the investors, founders, and other key players of start-ups and venture capital firms. As simple as this may seem, it’s not information that’s widely available – especially not all in one place!”
This specialized business requires specialized banking, and that’s where Wells Fargo (who is also a PitchBook client) stepped in.
John Nina, a Treasury Management sales consultant, says, “When we first met with PitchBook, we talked to them about things they should be looking at as they grow, and we put together services that could help them today and support their growth going forward.”
John, the CEO, says, “What I appreciate about Wells Fargo is we have a collaborative, two-way relationship. We recently opened a London office and have been working with Wells Fargo on our international needs as we’ve grown.”
The Wells Fargo Technology Banking group was started in 1999 and opened an office in Boston in 2013 for coast-to-coast coverage, which joins offices on the West Coast and in Austin, Texas.