PitchBook announced a new program to give early-stage startups free use of its private-market data, if they share their financials and other company details.

The Seattle-based company says the new program, dubbed PitchBook for Startups, will feed PitchBook Origin, a new deal-sourcing product that helps venture capitalists and other investors find startups before they raise their first institutional round.

PitchBook announced both offerings Tuesday morning at Web Summit in Lisbon. Owned by Morningstar since 2016, the company has more than 3,000 employees and sells subscriptions to venture firms, private equity investors and dealmakers.

The launches come as first-time startup financings hit a record. There were an estimated 8,625 such deals in the U.S. through the third quarter, already more than the 8,507 in all of 2021, according to the PitchBook-NVCA Venture Monitor. PitchBook attributes part of the surge to AI, which it says is making it easier to start companies.

The startup program is open to pre-seed and bootstrapped companies that haven’t taken money from a venture firm or other institutional investor, or raised a priced round, the type of funding round that sets a valuation.

Founders can use PitchBook to find investors who are active in their sector and stage, and to compare their valuation and growth against similar companies.

To keep their free access, startups must update their company information every quarter. PitchBook says that information can include financials, team growth and product milestones. Only “select portions” of that data will go into Origin, the company said, without saying which.

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