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- Burgiss
Burgiss Acquisition, Valuation, Funding & Investors
Burgiss was acquired by MSCI for $1B in August 2023, a 11.7x multiple on $90M of revenue.
Burgiss revenue at acquisition
$90M
Last twelve months · Aug 2023
Burgiss revenue multiple at acquisition
11.7x
EV/Revenue · Aug 2023
Cumulative funding Burgiss raised
$190M
across 1 funding round
About Burgiss
Burgiss is a Princeton-headquartered provider of data and analytics for private capital investors. Acquired by MSCI in 2021, it offers portfolio monitoring, benchmarking against private equity and real assets indices, cash flow forecasting, and risk analytics platforms. The tools aggregate performance data from general partners worldwide, enabling limited partners to track IRR, DPI, and TVPI metrics across fund vintages from 1980 onward.
Founded
1987
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Revenue
$90M (Aug 2023)
Valuation
$1B (acquired Aug 2023)
Burgiss Acquisition
Burgiss was acquired by MSCI for $1B on 14 August 2023.
The acquisition price implies a 11.7x revenue multiple on $90M of revenue.
Before the acquisition Burgiss had raised $190M across 1 funding round.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 14 Aug 2023 | Strategic M&A | $1B | 11.7x |
Burgiss Funding History
Burgiss has raised a total of $190M across 1 funding round.
Burgiss funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jan 2020 | Strategic investment | MSCI (lead) | $190M | Burgiss is a Hoboken, New Jersey-based provider of research-quality performance data, analytics, software applications, and technology solutions for investors in private assets, covering over 13,000 funds worldwide with $15 trillion in cumulative investments across private equity, private real estate, private debt, infrastructure, and natural resources in 195 countries. It serves more than 1,000 clients, including pensions, endowments, and investment consultants, with 650+ personnel across the US, Europe, Asia Pacific, and South Africa. In January 2020, MSCI acquired a minority interest in Burgiss for an investment of $190 million, as confirmed across multiple sources. This was the initial investment in what became a multi-stage acquisition process. In 2023, MSCI announced the acquisition of the remaining 66% stake for $697 million in cash, bringing total investment to approximately $913 million (varying slightly across reports as $913m-$931m) for full ownership, expected to close in Q4 2023. The full buyout valued Burgiss at $1.05 billion, with projected 2023 revenue of $90 million and an adjusted EBITDA margin of about 15%, implying a 12x revenue multiple and over 70x EBITDA multiple per analyst estimates. The deals position MSCI to enhance its private markets data and analytics offerings, integrating Burgiss' Caissa Platform for total portfolio views across public and private assets, aiding institutional investors in performance measurement, risk management, and asset allocation. Burgiss CEO Jim Kocis and MSCI CEO Henry Fernandez highlighted the strategic fit for innovation in private asset investing. |
Who has invested in Burgiss?
1 investor has backed Burgiss across its funding rounds, including MSCI.
Lead investors include MSCI.
Burgiss Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 Burgiss investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Burgiss
Burgiss has acquired 1 company to date.
Last acquisition by Burgiss was on September 13th 2021. Burgiss acquired Caissa for undisclosed valuation.
Latest Acquisitions by Burgiss
| Description | New York-based Caissa is a software provider offering the Caissa Platform, a web-based tool for portfolio management and risk analytics tailored to alternative investments. Institutional clients such as fund-of-funds, family offices, endowments, pensions, and foundations use it to track positions across hedge funds, private equity, and real assets. Features include multi-asset class attribution, stress testing, and ESG integration. Founded in 2003, the platform processes data from over 20,000 managers. |
| HQ Country | |
| HQ City | New York City, NY |
| Deal Date | 13 Sep 2021 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Burgiss acquisitions and their M&A valuation multiples. Start Free Trial | |
Burgiss Competitors
Burgiss competitors include listed companies like CARE Ratings and Servyou Software Group, and private ones like Dune Analytics, Flashbots, Fumi Technology and Gauntlet.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $4M | - | $1B | 250.0x | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $49M | $21M | $516M | 9.9x | ||
| Publicly listed | $306M | $35M | $2.3B | 6.6x |
Burgiss Public Comps
Burgiss is no longer listed, but its public comps include CARE Ratings, GlobalData, Finatext, National Securities, Value Line, HCR Co, CTOS Digital, NZX, Fintel and Servyou Software Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $49M | $21M | 9.2x | 9.9x | 21.5x | 20.5x | |||
| $433M | $140M | 1.7x | 1.7x | 5.3x | 5.0x | |||
| $71M | $13M | 6.3x | 5.4x | 34.1x | - | |||
| $159M | $48M | 9.4x | 8.5x | 31.6x | - | |||
| $33M | $29M | 8.5x | - | 10.0x | - | |||
| $75M | ($3M) | 3.3x | - | (84.3x) | - | |||
| $80M | $28M | 4.4x | 4.1x | 12.6x | 15.6x | |||
| $74M | $30M | 4.0x | 3.4x | 9.8x | 9.2x | |||
This data is available for Pro users. Sign up to see all Burgiss competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Burgiss
| When was Burgiss founded? | Burgiss was founded in 1987. |
| Where is Burgiss headquartered? | Burgiss is headquartered in Hoboken, NJ, United States. |
| Is Burgiss publicly listed? | No, Burgiss was acquired by MSCI in August 2023. |
| Who acquired Burgiss? | Burgiss was acquired by MSCI in August 2023. |
| How much was Burgiss acquired for? | Burgiss was acquired for $1B in August 2023, a 11.7x revenue multiple. |
| How much funding has Burgiss raised? | Burgiss has raised $190M across 1 funding round. |
| What was Burgiss' last funding round? | Burgiss' last funding round was a $190M strategic investment round in January 2020, led by MSCI. |
| Who are Burgiss' investors? | Burgiss' investors include MSCI. |
| Which companies are comparable to Burgiss? | Companies comparable to Burgiss include Dune Analytics, Flashbots, Fumi Technology, Gauntlet, CARE Ratings and Servyou Software Group. |
| How many companies has Burgiss acquired? | Burgiss has acquired 1 company, including Caissa. |
See companies similar to Burgiss
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