Zanbato

Name: Zanbato
Brand: Zanbato, Inc.

Trust in Private Markets

Est 2010|Valuation $120.5M|Raised $43.9M|120 Ref Customers

LinkedIn 2K|Web traffic 2K|FTEs 52|HQ Mountain View, California, US

MarketsInvestment Research & Market Intelligence Platforms Market Data & Reference Data

| Aspect | Zanbato (ZX / ZXData) | Forge Global | EquityZen | |---|---:|---:|---:| | Starting Price | Not publicly listed (enterprise/membership model) | Varies by product; not clearly published for institutional data/trading | Transaction-based fees disclosed for many investor transactions; structure differs from institutional data products | | Primary Focus | Institutional private-share price discovery and inter-broker execution workflows; secondary-market data | Private market trading, pricing products and broader marketplace functions | Investor-facing access to private-company exposure via structured offerings and transactions | | Key Strength | Institutional orientation and a combined execution/data offering for broker-dealer workflows | Publicly discussed pricing models and data products with broader public visibility | Published fee structures for many investor transactions and lower investment minimums in some offerings | | Key Weakness | Limited public transparency on pricing, security controls, and methodology | Operational and market pressures have been covered in financial press for the sector | Transaction fees can be material and liquidity timelines may be long |

01Competitive Landscape

Summary comparison (top competitors)

Aspect	Zanbato (ZX / ZXData)	Forge Global	EquityZen
Starting Price	Not publicly listed (enterprise/membership model)	Varies by product; not clearly published for institutional data/trading	Transaction-based fees disclosed for many investor transactions; structure differs from institutional data products
Primary Focus	Institutional private-share price discovery and inter-broker execution workflows; secondary-market data	Private market trading, pricing products and broader marketplace functions	Investor-facing access to private-company exposure via structured offerings and transactions
Key Strength	Institutional orientation and a combined execution/data offering for broker-dealer workflows	Publicly discussed pricing models and data products with broader public visibility	Published fee structures for many investor transactions and lower investment minimums in some offerings
Key Weakness	Limited public transparency on pricing, security controls, and methodology	Operational and market pressures have been covered in financial press for the sector	Transaction fees can be material and liquidity timelines may be long

Narrative analysis

Zanbato and Forge Global operate in overlapping areas of private-share liquidity and data. Forge has greater public visibility in certain data products. Zanbato emphasizes inter-broker institutional workflows and order-flow context in its data.
Compared with EquityZen, Zanbato is more targeted at institutional participants rather than retail or smaller accredited investors.

Adoption trends / market structure

The private-market access space has seen consolidation and strategic activity, indicating competitive pressure and ongoing distribution initiatives by established financial firms.