PitchBook pricing in 2026: what buyers actually paid
PitchBook doesn't publish its prices. The US government does publish what it pays. We read all 153 federal contracts with PitchBook in the public spending record, worth $25.4 million. The ones that state a number of users put one seat at $7,500 to $10,500 a year since 2024, most often $8,000. Morningstar, which owns PitchBook, reports figures that work out to about $5,900 a user across all its customers.
The short answer
| Question | What the records show |
|---|---|
| Does PitchBook publish a price? | No. Its pricing page is a form that asks for your name, email and company1 |
| One seat, in a federal contract since 2024 | $7,500 to $10,500 a year, most often $8,0002 |
| A very small account | $27,000 quoted for 3 users, and $24,300 for a single subscription9,10 |
| A data feed license | $19,799 in 2025 and $21,000 in 2026, on top of the seat6,5 |
| Average across all customers | About $5,900 a licensed user in 2025, by our arithmetic from Morningstar's report3 |
These are prices the US government paid. A private firm negotiates its own, and PitchBook says the price depends on the number of seats and the type of firm.1
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What PitchBook itself says
PitchBook's pricing page carries no numbers. It says pricing options vary with how many seats you need and your firm type, and with add-ons such as Direct Data or the CRM integration. To get a figure you fill in a form and speak to a representative. For a free trial, the page says to fill in the form and PitchBook will see whether a trial is right for you.1
Morningstar owns PitchBook and reports on it every year. Its annual report for 2025 says pricing for the PitchBook platform is based mainly on the number of licensed users, with customized pricing for large enterprises, boutique firms and startups. Data feeds and the API are priced by data volume, refresh needs and technical requirements.3
What the US government paid
Federal agencies have to publish their contracts. On November 14, 2026, we pulled every contract with PitchBook Data Inc that was active since October 2016 from USAspending.gov.2
| Count | |
|---|---|
| Contracts | 153 |
| Total obligated | $25.4 million |
| Departments and agencies | 22 |
| Median contract | $61,747 |
| Contracts under $50,000 | 68 |
| Contracts of $500,000 and more | 12 |
The Department of Defense is the largest buyer, with 23 contracts worth $8.3 million. The Treasury follows with $3.9 million, the State Department with $2.5 million and Health and Human Services with $2.3 million. The largest single contract is $2.02 million, from the Defense Counterintelligence and Security Agency, for two years from May 2025.2
Spending has grown. Contracts that started in fiscal 2019 add up to $0.36 million. Those that started in fiscal 2025 add up to $6.4 million. A contract that runs several years counts in the year it started.2
What one seat costs
Most contract records only name the subscription. Twenty say how many users the money covers, or state the price for a user outright. We divided where the record gave both numbers.
| Buyer | Period | Users | Price | For each user a year |
|---|---|---|---|---|
| Federal Bureau of Investigation | 2017 to 2018 | 5 | $30,000 | $6,000 |
| Department of Energy | 2018 to 2019 | 3 | $22,500 | $7,500 |
| Health and Human Services | 2021 to 2022 | 5 | $39,000 | $7,800 |
| National Aeronautics and Space Administration | 2021 to 2022 | 5 | $37,000 | $7,400 |
| Federal Bureau of Investigation | 2021 to 2022 | 17 | $143,000 | $8,412 |
| Health and Human Services | 2022 to 2023 | 13 | $91,000 | $7,000 |
| Department of Education | 2023 to 2024 | 3 | $27,000 quoted | $9,0009 |
| Agricultural Research Service | 2023 to 2025, two years | 5 | $85,000 | $8,500 |
| Federal Bureau of Investigation | 2024 to 2025 | 21 | $168,000 | $8,0007 |
| Department of Labor | 2024 to 2025 | 10 | $80,000 | $8,000 |
| Department of Energy | 2025 to 2026 | 7, and 19 in a second order | $7,500 a user, as stated | $7,5006 |
| Department of Energy | 2026 to 2027 | 12, 23 and 4 in three orders | $8,000 a user, as stated | $8,0005 |
| Department of Justice, National Security Division | 2026 to 2027 | 15 | $157,500 | $10,5008 |
Rows without a note of their own come from the same search of the spending record.2
Three things stand out.
- The price clusters. Since 2024, nine of the ten records with a user count come to $7,500 or $8,000 a user a year. The tenth is $10,500.
- It rises at renewal. The Department of Energy's agreement sets $7,500 a user for the first year and $8,000 for the next, an increase of 6.7 percent.6,5
- Small accounts pay more for each user. The Department of Education was quoted $27,000 for 3 users, $9,000 each. The US Military Academy bought one Standard Platform subscription for a year for $24,300.9,10
The same Energy agreement prices a direct data feed license separately: $19,799 in its first year and $21,000 in the next.6,5 Back in 2018, the department paid $15,000 for one power user beside three standard users at $7,500 each.2
One caution on the Army's contract. Its record says one subscription and doesn't say how many people may use it.10
What Morningstar's numbers imply
Morningstar's report for 2025 gives two figures that can be divided. The PitchBook segment had revenue of $671.8 million, and at the end of the year it served about 10,200 client accounts and 113,451 licensed users.3
| 2025 | |
|---|---|
| PitchBook segment revenue | $671.8 million |
| Licensed users | 113,451 |
| Client accounts | About 10,200 |
| Revenue for each licensed user | About $5,900 |
| Revenue for each client account | About $65,900 |
The last two rows are our arithmetic. They overstate the platform a little, because the segment's revenue also includes data feeds and the API.3
So the average user brings in about $5,900, and a federal seat costs $7,500 to $10,500. Morningstar explains the gap itself. PitchBook sells seat licenses and firmwide licenses, and under a firmwide license per user costs "tend to decline with the increase in the number of users."4 A bank with a thousand users pulls the average down. A team of five pays the list end.
How the price changes over time
Morningstar has told its investors how it thinks about PitchBook's price.4
- It raised the list price for new customers in January 2024.
- It typically increases the price at renewal.
- It expects more firms to move to firmwide licenses.
The annual report adds a number. In 2025, existing PitchBook customers renewed at about 103 percent of the revenue they paid the year before, against 108 percent in 2024.3 A figure above 100 means renewals, with their price increases and added seats, more than made up for the customers who left.
Alternatives that publish a price
Few private market databases do. These are the ones we found with prices on their own pages on November 14, 2026.
| Service | Published price | What it is |
|---|---|---|
| Crunchbase Pro | $49 a month billed annually in the first year, or $99 monthly11 | Private company profiles, funding data and search, for one person |
| Crunchbase Business | From $199 a month billed annually11 | The same for a team, with integrations |
| PrivCo List Builder | $199 a month12 | Private company financials and 1,000 exports a month |
| PrivCo Power | $399 a month, billed annually at $4,78812 | Larger volumes and contact data |
| Dealroom Premium | €250 a seat a month for 10 seats, €30,000 a year13 | Startup and funding data, 3 to 20 seats, in euros |
| Conecto (ours) | $0.10 a company profile, no subscription15 | Company registers, deals and valuation math for an AI agent |
Harmonic's pricing page lists its products with a button to get pricing and no figures.14
None of these is a like for like replacement. Morningstar's report says PitchBook tracks companies, investors, funds, deals, loans and executives, with its own research on top.3 The services above cover part of that. Crunchbase's regular annual price is $79 a month once the first year's discount ends.11
Where Conecto fits
Conecto is our product, and it is not a PitchBook. It has no terminal to sign in to. It gives your AI agent, such as Claude or ChatGPT, tools that read public registers and filings and charge for each result.
| Tool | What it returns | Price |
|---|---|---|
| Company profile | Legal form, status, address, industry, employees and officers from the register | $0.1015 |
| Financials | Up to ten years of filed figures, with margins and returns | $0.1015 |
| Owners | Parents, subsidiaries and, in the UK, people with significant control | $0.1015 |
| Longlist | Companies that fit a brief, each scored out of 100 with its reasons | $0.10 a company16 |
| Buyers | Companies that could buy a given company | $0.25 a buyer16 |
| Deals | Mergers from merger authorities and SEC filings | $0.01 a deal17 |
| Valuation | DCF, WACC, multiples, LBO returns and peer benchmarks | Free18 |
A longlist of 50 targets, with a profile, financials and owners for the ten best, costs $8.00.
The limits matter more than the price here:
- Coverage is registers and filings. Company data covers the UK, France, Norway and Finland, listed companies in the US and the EU, and 3.4 million companies worldwide. Longlists search four national registers.15,16
- There is no venture or fund data. The tool pages list no funding rounds, no fund performance, no limited partners and no valuations of private companies. That is the core of PitchBook.15,17
- A deal carries a price only where a filing states one.17
- You need an agent. Without Claude, ChatGPT or a similar agent, there is nothing to click.
It suits an adviser or a small corporate development team that needs target lists, register facts and deal math now and then. A fund that lives in venture and private equity data needs PitchBook or one of its direct rivals.
How to budget for PitchBook
- Start from $8,000 a user a year. That is the most common figure in federal contracts since 2024.
- Expect more for each user below five seats. The two smallest federal purchases came to $9,000 a user and to $24,300 for one subscription.
- Add 6 to 7 percent a year. That is the step in the one agreement that states two years of prices, and Morningstar says increases at renewal are typical.6,5,4
- Ask about a firmwide license above a few dozen users. Morningstar says the cost for each user falls as the number of users grows.4
- Price the data feed separately. One federal agreement puts it near $20,000 a license a year.
How we counted
We queried USAspending.gov's public award search on November 14, 2026, for contracts whose recipient name contains PitchBook, active between October 1, 2016, and that day. It returned 153 contracts, all with PitchBook Data Inc. Amounts are the dollars obligated on each contract.2
For the price of a seat, we read every contract description and kept those that state a number of users with a price, or a price for each user. We divided the stated price by the users and by the years the record covers. We left out one record whose description and dates disagree about the period, and we treat the Army's single subscription separately.
Morningstar's figures come from its annual report for 2025, filed with the SEC on February 13, 2026, and from its investor answer of July 18, 2024.3,4 The alternatives' prices were read on their own pages on November 14, 2026.
What this does not show: federal agencies buy under government terms, and a private firm may pay more or less. We did not ask PitchBook for a quote, and we did not test any of these products.
Questions
How much does PitchBook cost?
PitchBook doesn't publish a price.1 US federal contracts since 2024 put one seat at $7,500 to $10,500 a year, most often $8,000.2
How much does PitchBook cost for each user?
In the federal contracts that state a user count, $6,000 in 2017 and $7,500 to $10,500 since 2024.2 Across all customers, Morningstar's figures for 2025 work out to about $5,900 a licensed user.3
Why doesn't PitchBook publish its prices?
Its pricing page says the price depends on how many seats you need, your firm type and the add-ons you choose.1 Morningstar says pricing is customized for large enterprises, boutique firms and startups.3
Can one person buy PitchBook?
PitchBook's page says it is geared to investment professionals and that almost anyone could find value in it.1 In the federal record, the smallest purchase is one Standard Platform subscription for $24,300 a year.10
Does PitchBook's price go up at renewal?
Usually. Morningstar told investors it typically sees price increases at renewal, and one federal agreement moves from $7,500 to $8,000 a user in its second year.4,6,5
How much does PitchBook's data feed cost?
One Department of Energy agreement prices a direct data feed license at $19,799 in 2025 and $21,000 in 2026, beside the seat.6,5 Morningstar says data feeds and the API are priced by data volume and technical requirements.3
Is there a free trial of PitchBook?
The pricing page says to fill in a form and PitchBook will see whether a free trial is right for you.1
What is a cheaper alternative to PitchBook?
Crunchbase Pro costs $49 a month in the first year on annual billing, and PrivCo starts at $199 a month.11,12 Neither covers everything PitchBook does.
Sources
We read these pages on . Each number in the guide links to the page behind that sentence.
- PitchBook's pricing page
- Federal contracts awarded to PitchBook Data Inc, USAspending.gov, read November 14, 2026
- Morningstar, Inc. annual report for 2025 (Form 10-K), US Securities and Exchange Commission
- Pricing philosophy for PitchBook, Morningstar investor Q&A, July 18, 2024
- Department of Energy call order 89703026FAR000022, USAspending.gov
- Department of Energy call order 89703025FAR000005, USAspending.gov
- Federal Bureau of Investigation order 15F06724P0001109, USAspending.gov
- Department of Justice order 15JPSS26P00000398, USAspending.gov
- Department of Education order 91993923P0004, USAspending.gov
- Department of the Army order W911SD25PA009, USAspending.gov
- Product pricing, Crunchbase
- Pricing, PrivCo
- Pricing, Dealroom
- Pricing, Harmonic
- Company data tools, Conecto
- Longlist tools, Conecto
- Mergers and acquisitions tools, Conecto
- Valuation tools, Conecto
Conecto publishes this guide and sells business tools for AI agents. How we write our guides. To report a mistake, write to hello@conecto.chat.
Written by Amelia Cardona Hernandez, Co-founder of Conecto. LinkedIn