SEATTLE, June 19, 2017 /PRNewswire/ -- PitchBook, the leading data provider for the private capital markets, today announced the roll out of a new platform architecture designed to enable more efficient delivery of new datasets and increase platform scalability. The re-architecture involves a move from a monolithic infrastructure to microservices, which will allow PitchBook developers to easily scale the Platform to deliver more datasets to a greater number of users, as the company works to reach its goal of hosting 10 million private and public companies. The new scalability provided by the microservices architecture will position PitchBook as the authoritative source for the entire capital markets ecosystem and lay the foundation to integrate more machine learning and natural language processing functionality into the Platform. In addition to the microservices migration, PitchBook is also unveiling a series of UI updates starting with a redesign that will empower users to quickly uncover patterns in data and discover their next opportunity.
"The PitchBook team has always been on the cutting edge of technology adoption. Their comprehensive digitalization strategy is one of the key reasons we were drawn to PitchBook, which we acquired in late 2016. Their ability to be agile and respond quickly to changing market conditions is a testament to the sophistication of their technology stack and forward-leaning approach," said Mitch Shue, chief technology officer of Morningstar. "This move to a microservices infrastructure will allow the PitchBook platform to run more efficiently and provide a more complete picture of private and public market activity, complementing Morningstar's offerings and widening the gap between PitchBook and its competition."
According to a 2016 report by Ernst & Young, 63% of private market investors cite data sourcing, governance and analysis as the most significant operational concern, and another 26% are in need of more frequent analysis on timely investment and valuation information. This need for quality financial performance data has been a key driver of PitchBook's growth, fueling over 60% revenue growth year-over-year since 2009, and a forcing function to migrate to a microservices infrastructure. By doing so, PitchBook can easily add and refresh private and public market transaction data and make platform updates without building an entirely new system – a consequence of monolithic infrastructures. In this initial phase of a microservices roll out, PitchBook is adding consensus estimate datasets to inform future company direction based on public market analysis and provide users with a holistic view of company and industry health.
"Breaking from a monolithic environment will allow us to easily make changes under the hood of different modules without affecting any of the other services tied to it. This ultimately is pushing the PitchBook Platform into a new era, defined by greater scale and usability," said Alex Legault, lead product manager at PitchBook. "With an aggressive product roadmap that involves loading massive datasets, leveraging modern cloud techniques and enabling more machine learning, a microservices infrastructure will provide the right framework to execute on our plans, quickly and efficiently."
With this release, PitchBook is also launching a UI redesign, that when coupled with the new microservices infrastructure, powers a host of new features and user experience improvements. The specific updates include:
- Streamlined Navigation – A redesigned desktop will allow users to easily uncover patterns in the data and create more efficient workflows.
- Intuitive Search – Users are now able to surface search results faster and with one-click.
- Browser Responsiveness – Extended display of columns allows for advanced search results and dashboard widgets to enable quick analysis of key data points.
- Design Enhancements –Enhanced charts and graphs to enable users to uncover patterns and trends in the data.
For more information about PitchBook Platform updates, click here.
Founded in 2007, PitchBook is a data provider that tracks every aspect of the private and public markets, specializing in venture capital, private equity and M&A. More than 10,000 professionals access PitchBook's data through the company's award-winning software products. PitchBook is a Morningstar company with offices in Seattle, New York and London.
Media Contact: Bailey Fox, firstname.lastname@example.org, 206-823-3022
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/pitchbook-platform-begins-migration-to-microservices-infrastructure-to-help-reach-its-goal-of-hosting-10-million-private-and-public-companies-300475500.html