Introducing the Private Market Data Network

This post was written by Raymond Luk, Founder and CEO of Hockeystick.

Anyone can open a day trading account with their bank or buy a Bloomberg terminal and access a universe of data and tools. You can research companies, execute trades and track your portfolio with a few mouse clicks.

 Surprisingly, no such platform exists in private markets so investors do the best they can with proprietary databases and Excel. Companies have no way of telling their story to the market in order to attract investment and opportunities.

That’s why we created Hockeystick and since then we've been working tirelessly to bring our vision to life. Our long-term vision is to make private data as accessible as the public data on Bloomberg terminals.

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We’re building a platform that will contain the best data about private companies, investors, transactions and meta-data about the market, such as benchmarks. Companies will use Hockeystick to share data the market cares about — high-level growth metrics for fundraising to low-level data for financial reporting.

Investors will be able to search and screen deals and be matched with promising companies. Hockeystick will replace manual portfolio tracking with automated systems that collect data and produce dashboards and reports.

Everyone else, including researchers, analysts, and 3rd party developers, will have access to common tools and APIs that will allow them to include private market data into their products and services.

Our vision at Hockeystick vision is built around three core principles:

1. People should own their own data Using a platform shouldn’t mean the platform puts up a paywall and has the right to sell your data. You should own your own data, control how it’s used, and have clear incentives to share it if you choose to.

2. Data should be private and secure Hockeystick should be the safest and most secure way to store and share your corporate data. It should give you the most options to manage your company’s security and privacy.

3. There should be standard ways to work with data Hockeystick should support recognized data standards, or create new ones if none exist. The structure of our data and our taxonomies should be open and our functionality should be accessible from front-end applications and back-end APIs.

We’ve made great progress building out this vision. Over 12,000 private companies use Hockeystick to report financial data to their investors and the market. We have customers across the entire “funding stack” from early stage Angels to late stage VCs, and across equity and debt classes. We’ve built automated tools for application forms, deal flow management, investor reporting and portfolio analytics.

Today, we’re excited to announce a 5-year strategic agreement with the Lazaridis Institute to provide Hockeystick free of charge for all Canadian accelerators and incubators. Accelerators are a crucial first step for many entrepreneurs and we are thrilled to be supporting their operations and giving them access to data that will help them measure their impact.

This is a big step forward for Hockeystick, one that validates our vision of being a private market data network and will accelerate our platform roadmap significantly. We’re looking forward to sharing more big news and releasing new tools in the coming weeks and months.

If you are a Canadian accelerator or incubator, please register for your free account.

If you work with private market data and want to work with Hockeystick, please contact us directly.

RaymondLuk.pngRaymond is a serial entrepreneur and Angel investor. He is the founder of Year One Labs, a startup accelerator and Flow Ventures, a venture consultancy. He is the founder and CEO of Hockeystick, a private market data network used by the top investors and startups in Canada and around the world.

 

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