PitchBook Industry Descriptions Updated Aug 2021

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The document outlines different industry categories and codes within PitchBook's platform, including commercial products, commercial services, and materials and resources.

Some of the main commercial product categories described include aerospace and defense, building products, electrical equipment, industrial supplies and parts, and machinery.

Commercial service categories mentioned include accounting, audit and tax services, BPO/outsourcing, construction and engineering, and consulting.

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Every company in the PitchBook platform is tagged to at least one industry so you can find companies by their business
activity with ease. To learn about PitchBook’s industry methodology, visit our Industry Methodology article in the Help
Center.

To download the most up to date version of the article, visit the Industry Definitions article in the Help Center.

1.1 Commercial Products

1.1.1 Aerospace and Defense


Companies in aerospace are involved in the various aspects of designing, building, testing, selling, and maintaining aircraft,
aircraft parts, missiles, rockets, or spacecraft. Companies in defense are involved with manufacturing weapons and military
technology. This includes the research, development, engineering, production, and servicing of military material, equipment,
and facilities.

1.1.2 Building Products


Companies that manufacture components for buildings and construction. These will generally include intermediate parts
needed to complete a larger structure, such as drywall, insulation, and plumbing.

1.1.3 Distributors/Wholesale
Companies engaged in the sale of bulk goods for resale by a retailer. The goods are sold to industrial, commercial,
institutional, or other entities.

1.1.4 Electrical Equipment


Companies that manufacture electrical equipment and components for use in construction and other industrial products.
Like Industrial Parts and Supplies, Electrical Equipment will often consist of intermediate parts intended for use in more
complex electrical systems. However, this is not always the case, as products such as power generators, lighting equipment,
and industrial appliances should all fall into this category. This includes Power Generators, Lighting Equipment,
Microcontrollers, Circuit Breakers, Electrical Wiring.

1.1.5 Industrial Supplies and Parts


Companies that manufacture intermediate goods and supplies to be used in the process of manufacturing final products
later, generally by a different company. Intermediate goods are defined as partly finished goods, used as inputs in the
production of other goods including final goods. This includes molded, cut, cast, and other metals and plastics, precision
parts, gears, laser components, adhesives, paints, and other components or supplies used to create industrial equipment and
machines.

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1.1.6 Machinery (B2B)


Companies that manufacture machinery for a range of industrial purposes including but not limited to agriculture,
construction, food processing, metalworking, packaging, and printing. This includes agricultural machinery, construction
machines, conveyor belts, metalworking machinery, food processing machinery.

1.1.7 Other Commercial Products


Other companies working in the commercial products space that do not belong in any of the outlined industry codes.

1.2 Commercial Services

1.2.1 Accounting, Audit and Tax Services (B2B)


Companies that provide accounting, audit, tax, bookkeeping, pay roll and billing services to other businesses. Ex:
PricewaterhouseCoopers, Ernst & Young, KPMG, Deloitte

1.2.2 BPO/Outsource
Companies that provide outsourcing (BPO) services. It often involves the contracting of a business process (e.g., payroll
processing, claims processing), operational, and/or non-core functions, such as manufacturing, facility management, call
center support). Companies in this category provide outsourcing services to companies who need their services, generally for
the sake of efficiency or cost.

1.2.3 Construction and Engineering


Construction is the process of building a structure or piece of infrastructure. Engineering in this context involves the
application of math and science towards the innovation, design, construction, operation, and maintenance of such structures
and infrastructure.

Companies engaged in this industry typically plan, design, and/or build structures, or offer services to companies that are.
This includes Contracting, Architecture, Civil Engineering, Materials Engineering Ex: Turner Construction, Skanska, Tishman
Construction

1.2.4 Consulting Services (B2B)


Companies providing professional advice to an organization for a fee.

1.2.5 Education and Training Services (B2B)


Companies providing training and continued education services to employees within enterprises. These services must be
marketed and offered towards enterprises, not individual consumers. This includes vocational training, trade schools,
certification classes, career development.

1.2.6 Environmental Services (B2B)


Companies in this industry provide services which aim to measure, prevent, limit, and minimize or correct environmental
damage to water, air, and soil, as well as problems related to waste, noise, and eco-systems. This code includes waste
management, environmental assessments and audits, air and water quality management, sustainable development, pollution
control.

1.2.7 Human Capital Services


Companies providing consulting services to enterprises regarding the effective use of human capital. Human capital, in this
context, refers to the value that the employees of a business provide through the application of skills, knowhow and
expertise. In other words, companies in this category help other businesses figure out how they can better utilize, motivate,

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find, and retain employees to make their businesses more efficient. This includes recruiting services, headhunting, general
human resources.

1.2.8 Legal Services (B2B)


Companies providing legal services to commercial businesses. Includes contract law, tax law, securities law, intellectual
property rights, and zoning law, among others.

1.2.9 Logistics
Logistics is the management of the flow of things between the point of origin and the point of consumption to meet
requirements of customers or corporations. The resources managed in logistics can include physical items such as food,
materials, animals, equipment, and liquids; as well as intangible items, such as time and information. The logistics of physical
items usually involves the integration of information flow, materials handling, production, packaging, inventory,
transportation, warehousing, and often security.

Companies in this assist with any or all parts of the logistics process as detailed above. This includes inventory management,
transportation management, warehousing, handling, delivery, supply chain management.

1.2.10 Media and Information Services (B2B)


Companies specializing in marketing and media services for businesses. This includes Advertising, Marketing, Media
Consulting, graphic design, public relations, branding, corporate event planning, trade show operation, social media
campaigns.

1.2.11 Office Services (B2B)


Companies providing administrative and office management services to businesses.

1.2.12 Printing Services (B2B)


Companies providing corporate printing services to other businesses.

1.2.13 Security Services (B2B)


Companies providing security services for businesses.

1.2.14 Other Commercial Services


Other companies working in the commercial service space that do not belong in any of the outlined industry codes.

1.3 Commercial Transportation

1.3.1 Air
Companies providing air transportation services to businesses.

1.3.2 Marine
Companies providing products and services related to commercial water transportation.

1.3.3 Rail
Companies providing products and services related to commercial rail transportation.

1.3.4 Road
Companies providing products and services related to commercial road transportation. This includes truck manufacturing,
freight hauling.

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1.3.5 Infrastructure
Companies providing products and/or services related to the design and construction of public transportation infrastructure.
This includes airports, train stations, bus terminals, highway construction.

1.3.6 Other Transportation


Other companies working in the commercial transportation space that do not belong in any of the outlined industry codes.

1.4 Other Business Products and Services

1.4.1 Buildings and Property


Companies operating buildings or maintaining property for real estate purposes.

1.4.2 Conglomerates
Companies that manufacture components for buildings and construction. These will generally include intermediate parts
needed to complete a larger structure, such as drywall, insulation, and plumbing.

1.4.3 Government
Companies providing government agencies with products and services.

1.4.4 Other Business Products and Services


Other companies working in the business products and services space that do not belong in any of the outlined industry
codes.

2.1 Apparel and Accessories

2.1.1. Accessories
A fashion accessory is an item used to contribute, in a secondary manner, to the wearer's outfit, often used to complete an
outfit and chosen to specifically complement the wearer's look. It has the capacity to further express individual identity and
personality as there are accessories that come in different, shapes, sizes, hues etc.

2.1.2 Clothing
Companies designing and manufacturing clothing.

2.1.3 Footwear
Companies designing and/or manufacturing footwear.

2.1.4 Luxury Goods


Companies designing and/or manufacturing products that are not essential but are highly desired and associated with
wealthy or affluent individuals. Often, they involve taking an established product such as clothes or accessories and making
them from more expensive materials.

2.1.5 Other Apparel


Other companies working in the apparel and accessories space that do not belong in any of the outlined industry codes.

2.2 Consumer Durables

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2.2.1 Business Equipment and Supplies


Companies manufacturing office supplies used by businesses and other organizations, by individuals engaged in written
communications, record keeping or bookkeeping, janitorial and cleaning, and for storage of supplies or data.

2.2.2 Electronics (B2C)


Manufacturers of consumer electronics. Includes digital cameras, televisions, and handheld devices, among others.

Companies designing and/or manufacturing consumer electronics or home electronics intended for everyday use, typically in
private homes. Consumer electronics include devices used for entertainment (flatscreen TVs, DVD players, video games,
remote control cars, etc.), communications (telephones, cell phones, e-mail-capable laptops, etc.), and home-office activities
(e.g., desktop computers, printers, paper shredders, etc.).

2.2.3 Home Furnishings


Companies designing and/or manufacturing furniture and other decorative accessories intended for homes. This includes
desks, lamps, chairs, sofas.

2.2.4 Household Appliances


Companies designing and/or manufacturing home appliances. Includes microwaves, vacuum cleaners, washers, and dryers,
among others.

2.2.5 Recreational Goods


Manufacturers of recreational goods. Includes sporting goods, hot tubs, nerf guns, swimming pools., leisure goods, among
others.

2.2.6 Other Consumer Durables


Other companies working in the consumer durables space that do not belong in any of the outlined industry codes.

2.3 Consumer Non-Durables

2.3.1 Beverages
Companies producing beverages, both alcoholic and non-alcoholic varieties. Companies that prepare and serve beverages on
the same premises are categorized in Restaurants and Bars. This code includes coffee, tea, alcohol, wine, beer, spirits. Ex:
Coca-Cola, Pepsi, Anheuser-Busch

2.3.2 Food Products


Companies producing and processing food products. Food processing is the transformation of agricultural products into food,
or of one form of food into other forms. Companies in this category are thus involved in the preparation of fresh products for
market and the manufacture of prepared food products. Companies that prepare and serve food on the same premises are
categorized in Restaurants and Bars. Ex: Kraft Foods, Heinz, Lancaster Colony

2.3.3 Household Products


Companies producing non-durable consumer goods used in the upkeep and maintenance of households. This code includes
paper towels, brooms, and a lot more.

2.3.4 Personal Products


Companies manufacturing products used in personal hygiene and beautification. This code includes soap, shampoo,
condoms, tampons, hair care, skincare, small bar of soap, shower cap, moisturizer, toothpaste, toothbrush, cologne.

2.3.5 Other Consumer Non-Durables


Other companies working in the consumer non-durables space that do not belong in any of the outlined industry codes.

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2.4 Media

2.4.1 Broadcasting, Radio and Television


Companies producing content for radio and television.

2.4.2 Information Services (B2C)


Companies providing information to consumers in a niche area of focus, generally for the purposes of clarification or
assistance.

2.4.3 Movies, Music and Entertainment


Companies producing and distributing entertainment products and services. The Entertainment Industry is wide ranging, but
predominantly consists of movies, music, television, and live events. This includes movie theaters, cinemas, production
companies, music labels, amusement parks, art exhibits, and fairs.

2.4.4 Publishing
Companies providing print and internet publishing services. Includes newspapers, magazines, books, websites, video game
publishers, among others.

2.4.5 Social Content


Companies providing content related to social interaction via an online platform. This content generally takes the form of
users interacting with one another via a message board or other interface. This code includes dating apps, blogs, forums,
internet communities.

2.4.6 Other Media


Other companies working in the media space that do not belong in any of the outlined industry codes.

2.5 Restaurants, Hotels and Leisure

2.5.1 Casinos and Gaming


Companies operating casinos and gambling institutions. This code includes casinos and bingo halls.

2.5.2 Cruise Lines


Companies operating cruise lines for recreational purposes.

2.5.3 Hotels and Resorts


Companies operating Hotels and Resorts.

2.5.4 Leisure Facilities


Companies operating a purpose-built building or site designated for leisure activities.

2.5.5 Restaurants and Bars


Companies operating restaurants and bars.

2.5.6 Other Restaurants, Hotels and Leisure


Other companies working in the restaurants, hotels, and leisure space that do not belong in any of the outlined industry
codes.

2.6 Retail

2.6.3 Catalog Retail


Companies offering retail services through mail order and television home shopping.

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2.6.2 Department Stores


A retail establishment offering a wide range of consumer goods in different product categories known as departments.

2.6.3 Distributors/Wholesale (B2C)


Companies engaged in the sale of bulk goods to individual consumers.

2.6.4 General Merchandise Stores


A rural or small-town store that carries a general line of merchandise. Though once a common concept, general stores are
now far less common, having been replaced by e-commerce sites and department stores.

2.6.5 Internet Retail


Companies operating in this category maintain an online store whereby they offer a diverse variety of products to be sold to
consumers. Internet Retail is often a synonym for "e-commerce."

2.6.6 Specialty Retail


Companies that sell goods ONLY within a specific category or limited set of categories.

2.6.7 Other Retail


Other companies working in the retail space that do not belong in any of the outlined industry codes.

2.7 Services (Non-Financial)

2.7.1 Accounting, Audit and Tax Services (B2C)


Companies providing accounting, audit, and tax services to individuals. Ex: H&R Block, Jackson Hewitt, Liberty Tax Service

2.7.2 Educational and Training Services (B2C)


Companies providing learning and continued education services to individuals and children. The key component here is that
the education and training services provided must be specifically targeted towards and paid for my individual consumers, not
enterprises.

2.7.3 Legal Services (B2C)


Companies providing legal services to private individuals.

2.7.4 Real Estate Services (B2C)


Companies providing real estate services to individuals. This code includes home buying websites, appraisal services,
property evaluations.

2.7.5 Other Services (Non-Financial)


Other companies working in the non-financial services space that do not belong in any of the outlined industry codes.

2.8 Transportation

2.8.1 Air
Companies providing air transportation services to consumers.

2.8.2 Automotive
Companies offering automobile-related products and services for individuals. This includes car dealerships, automotive repair
shops, roadside assistance, and taxi services.

2.8.3 Marine
Companies providing products and services related to marine transportation for consumers.

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2.8.4 Rail
Companies providing railway services to private individuals.

2.8.5 Other Transportation


Other companies working in the transportation space that do not belong in any of the outlined industry codes.

2.9 Other Consumer Product Services

2.9.1 Other Transportation

Other companies providing services and products to consumers that do not fit the industry groups and codes above.

3.1 Energy Equipment

3.1.1 Alternative Energy Equipment


Companies manufacturing and/or providing alternative energy equipment. Alternative Energy refers to any energy source
that is an alternative to fossil fuels such as petroleum, coal, and natural gas. This includes solar panels, wind turbines,
hydroelectric power, nuclear power.

3.1.2 Coal and Consumable Fuels Equipment


Companies manufacturing or providing coal and consumable fuels equipment. Consumable fuels include natural gas and
petroleum.

3.1.3 Oil and Gas Equipment


Companies manufacturing or providing equipment used in the Oil & Gas industry. This code includes drilling equipment,
seismic equipment, oil derricks.

3.1.4 Other Equipment


Other companies manufacturing equipment used in the energy industry that do not fit the listed industry codes.

3.2 Exploration, Production and Refining

3.2.1 Energy Exploration


Companies engaged in energy exploration. Includes the identification, testing and development of sites for well drilling and
wind farms.

3.2.2 Energy Production


Energy development is the field of activities focused on obtaining sources of energy from natural resources. These activities
include production of conventional, alternative, and renewable sources of energy, and for the recovery and reuse of energy
that would otherwise be wasted. This code includes petroleum refining, wind farm operation, solar collection, nuclear power
generation.

3.2.3 Energy Refining


Companies in this category are responsible for taking in raw crude oil and refining it into one of the products mentioned
above.

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3.3 Energy Services

3.3.1 Energy Marketing


Companies providing consulting services to energy companies. This code includes energy advising, gas marketing, pipeline
analysis.

3.3.2 Energy Storage


Companies providing services related to the storage of fuels and electricity for energy purposes. This code includes industrial
batteries, fuel cells, capacitors.

3.3.3 Energy Traders and Brokers


Companies engaged in energy trading and brokerage services.

3.3.4 Energy Transportation


Companies developing infrastructure for the transportation or extraction of energy assets. This code includes pipeline
infrastructure, transmission lines, power generation plants, refinery construction.

3.3.5 Energy Infrastructure


Companies engaged in energy infrastructure. Includes pipelines, transmission lines, generation plants, and refineries, among
others.

3.3.6 Other Energy Services


Other companies working in the energy services space that do not belong in any of the outlined industry codes.

3.4 Utilities

3.4.1 Electric Utilities


Companies in the electric power industry that engage in electricity generation and transmission of electricity for sale
generally in a regulated market.

3.4.2 Gas Utilities


Companies engaged in transmitting natural gas to households and businesses.

3.4.3 Multi-Utilities
Companies transmitting and distributing more than one utility. This may include water, electricity, and/or natural gas.

3.4.4 Water Utilities


Companies engaged in transmitting clean water to households and businesses.

3.4.5 Other Utilities


Other companies working in the utilities space that do not belong in any of the outlined industry codes.

3.5 Other Energy

3.4.5 Other Utilities


Other companies working in the energy space that do not belong in any of the outlined industry codes.

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4.1 Capital Markets/Institutions

4.1.1 Asset Management


Financial institutions managing cash and securities for high-net-worth individuals, government agencies, corporations, and
financial intermediaries. Securities managed include equity, fixed income, real estate, commodities, international
investments, investment firms, institutional asset manager.

4.1.2 Brokerage
A brokerage company’s main duty is to act as a middleman that connects buyers and sellers to facilitate a transaction.

4.1.3 Investment Banks


Investment banks specialize in large and complex financial transactions, such as underwriting, acting as an intermediary
between a securities issuer and the investing public, facilitating mergers and other corporate reorganizations, and acting as a
broker and/or financial advisor for institutional clients.

4.1.4 Private Equity Financial


Institutions investing large pools of capital in companies that are not publicly traded. This code includes a variety of strategies
like leveraged buyouts, venture capital, and growth capital investing.

4.1.5 Other Capital Markets/Institutions


Other companies working in the capital market/institution space that do not belong in any of the outlined industry codes.

4.2 Commercial Banks

4.2.1 International Banks


Commercial banks located in more than one country and offering services to foreign residents and institutions.

4.2.2 National Banks


Commercial banks that only operate in one country.

4.2.3 Regional Banks


Financial institutions providing mortgage services for businesses.

4.2.4 Thrifts and Mortgage Finance


Financial institutions providing mortgage services for consumers and businesses.

4.2.5 Other Commercial Banks


Other companies working in the commercial banks space that do not belong in any of the outlined industry codes.

4.3 Insurance

4.3.1 Automotive Insurance


Companies providing insurance for cars, trucks, and other vehicles.

4.3.2 Commercial/Professional Insurance


Companies providing commercial and professional insurance for businesses.

4.3.3 Insurance Brokers


An insurance broker sells, solicits, or negotiates insurance for compensation.

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4.3.4 Life and Health Insurance


Companies providing life and healthcare insurance.

4.3.5 Multi-line Insurance


Companies providing multiple types of insurance that can be bundled.

4.3.6 Property and Casualty Insurance


Companies providing property and casualty insurance.

4.3.7 Re-Insurance
Companies providing insurance to insurance companies.

4.3.8 Other Insurance


Other companies working in the insurance space that do not belong in any of the outlined industry codes.

4.4 Other Financial Services

4.4.1 Consumer Finance


Financial institutions that specialize in providing loans directly to consumers who are unable to secure bank loans.

4.4.2 Holding Companies


Companies that usually do not produce goods or services itself; rather, their purpose is to own shares of other companies to
form a corporate group. Holding companies allow the reduction of risk for the owners and can allow the ownership and
control of several different companies.

4.4.3 Real Estate Investment Trusts (REITs)


REITs allow individuals to invest in large-scale, income-producing real estate. A REIT is a company that owns and typically
operates income-producing real estate or related assets. These types of assets typically include things such as shopping
malls, apartments, hotels, resorts, self-storage facilities, warehouses, and mortgages or loans.

4.4.4 Specialized Finance


Companies providing specialized financial services to public and private enterprises. This code includes loans to small
businesses.

4.4.5 Special Purpose Acquisition Company (SPAC)


Publicly traded buyout companies that raise capital through an IPO to purchase or gain a controlling stake in a company,
which is then able to go public without undergoing the traditional IPO process.

4.4.6 Other Financial Services


Other companies working in the financial services space that do not belong in any of the outlined industry codes.

5.1 Healthcare Devices and Supplies

5.1.1 Diagnostic Equipment


Companies manufacturing medical devices used to help in the assessment and identification of a patient's illness or medical
issue. This code includes MRI machines, x-ray machines, ultrasounds, CT scanners, imaging machines.

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5.1.2 Medical Supplies


Companies manufacturing medical supplies and equipment, both durable and non-durable, that are used in medical, dental,
hospital, pharmacy, and clinical laboratories. This code includes masks, PPE (Personal Protective Equipment), needles,
syringes, bandages.

5.1.3 Monitoring Equipment


Companies manufacturing medical equipment designed to monitor the vital signs and medical conditions of patients. This
code includes heart monitor, fetal monitor.

5.1.4 Surgical Devices


Companies manufacturing devices, instruments, and equipment used in surgical procedures.

5.1.5 Therapeutic Devices


Companies manufacturing medical devices designed to assist patients with overcoming a medical procedure or condition.
This generally includes (but is not limited to):

• Rehabilitative or Curative – wearable, orthotic, or implantable devices to restore health after disease or illness
(e.g. prosthetics)
• Assistive – wearable, orthotic, prosthetic, robotic, or implantable devices to replace or supplement capability lost
due to chronic conditions (e.g. hearing aids)
• Preventative – wearable, orthotic, or implantable devices to avoid the onset of acute or chronic conditions

5.1.6 Other Devices and Supplies


Companies producing Medical Devices and Supplies not classified elsewhere.

5.2 Healthcare Services

5.2.1 Clinics/Outpatient Services


Outpatient services are medical procedures or tests that can be done in a medical center without an overnight stay. Many
procedures and tests can be done in a few hours. Companies in this category provide outpatient services and/or operate
clinics for the purpose of medical diagnosis, treatment, or outpatient care.

Outpatient services include:

• Wellness and prevention, such as counseling and weight-loss programs.


• Diagnosis, such as lab tests and MRI scans.
• Treatment, such as some surgeries and chemotherapy.
• Rehabilitation, such as drug or alcohol rehab and physical therapy.
• Telemedical services conducted over an app or computer such as digital care and online mental health therapy.

5.2.2 Distributors (Healthcare)


Companies supplying or distributing healthcare supplies to caregivers, health providers, care managers, managed care
provider and medical organizations.

5.2.3 Elder and Disabled Care


Organizations providing care services to elderly and/or disabled individuals. This code includes care homes, aged care facility,
residential aged care provider and specialist nursing care.

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5.2.4 Hospitals/Inpatient Services


Inpatient care is the care of patients whose condition requires admission to a hospital. Organizations in this category operate
hospitals and/or provide inpatient care services.

5.2.5 Laboratory Services (Healthcare)


A medical laboratory or clinical laboratory is a laboratory where clinical pathology tests are carried out on clinical specimens
to obtain information about the health of a patient to aid in diagnosis, treatment, and prevention of disease.

This code includes pathology services, allergy testing, infectious disease testing, genetic testing, drug testing,
neuropathology, hematopathology testing, immunodeficiency virus (HIV), hepatitis A, B, and C.

5.2.6 Managed Care


Companies managing health care plans to reduce the cost of healthcare for members. This code includes Health
Maintenance Organizations (HMO), Preferred Provider Organizations (PPO), Point of Service (POS), and Private fee-for-
service (PFFS).

5.2.7 Practice Management (Healthcare)


Companies providing consulting and management services to medical practices. This code includes advising, consulting,
administration, billing, collection.

5.2.8 Other Healthcare Services


Companies providing other healthcare services not classified elsewhere. Please ONLY use this code if you are unable find a
products tag elsewhere in this group.

5.3 Healthcare Technology Systems

5.3.1 Decision/Risk Analysis


Companies developing technology or medical application software designed to assist medical professionals in making
decisions and evaluating risk associated with various medical treatments.

5.3.2 Enterprise Systems (Healthcare)


Companies developing technology (e.g. machine learning, artificial intelligence, big data and predictive analytic) and software
(e.g. Saas software, cloud-based software) to cover multiple functions of a healthcare organization.

5.3.3 Medical Records Systems


Companies developing software for the purpose of storing patients' health information digitally, for use in hospitals and
clinics.

5.3.4 Outcome Management (Healthcare)


Companies developing technology or software (e.g. Saas software, healthcare software, cloud-based software) to assess the
outcome of a medical procedure or course of treatment.

5.3.5 Other Healthcare Technology Systems


Companies providing Healthcare Technology Systems not classified elsewhere.

5.4 Pharmaceuticals and Biotechnology

5.4.1 Biotechnology
Biotechnology is the broad area of biology involving living systems and organisms (e.g. bacteria, mammalian cells, T cells) to
develop or make products. Companies in this category are researching and using biological systems in order to develop new
drugs and therapies for medical patients.

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5.4.2 Discovery Tools (Healthcare)


Companies researching, developing or manufacturing tools (e.g. reagents, equipment), technology or software and methods
designed to discover new drugs. This code includes AI and machine learning for drug development.

5.4.3 Drug Delivery


Companies developing tools and methods for delivering drugs.

5.4.4 Drug Discovery


Companies researching and developing new drugs.

5.4.5 Pharmaceuticals
Companies manufacturing and distributing drugs, or generally from chemical and synthetic processes. These companies are
generally engaged in research to discover new drugs as well.

5.4.6 Other Pharmaceuticals and Biotechnology


Companies operating in Pharmaceuticals and Biotechnology not classified elsewhere. Please ONLY use this code if you are
unable find a products tag elsewhere in this group.

5.5 Other Healthcare

5.5.1 Other Healthcare


Other companies working in the healthcare space that do not belong in any of the outlined industry codes.

6.1 Communications and Networking

6.1.1 Cable Service Providers


Companies providing television access through the operation of cable networks. Ex: Comcast, Cox Communications,
Adelphia

6.1.2 Connectivity Products


Companies manufacturing and/or designing electrical components specifically used in communications networks or devices.
This includes ethernet cables.

6.1.3 Fiberoptic Equipment


Companies manufacturing fiber optic and photonic equipment. Photonic devices are components for creating, manipulating,
or detecting light.

6.1.4 Internet Service Providers


Internet Service Providers (ISPs) are organizations that provide services for accessing, using, or participating in the Internet.

6.1.5 Telecommunications Service Providers


Telecommunications refers to the exchange of information by electronic and electrical means over a significant distance, and
encompasses telephones, radio, television, and internet connectivity. Companies in this code are engaged in providing the
above communications services.

6.1.6 Wireless Communications Equipment


Companies manufacturing, designing, and distributing wireless communication equipment.

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6.1.7 Wireless Service Providers


Providers of wireless telephone networks.

6.1.8 Other Communications and Networking


Other companies working in the communications and networking space that do not belong in any of the outlined industry
codes.

6.2 Computer Hardware

6.2.1 Computers, Parts and Peripherals


Companies designing and manufacturing computers, parts used for computers, and related peripherals and accessories used
with computers. This includes keyboards, mouse, PCs, webcams, monitors, power supply units.

6.2.2 Electronic Components


Companies manufacturing, designing, and distributing electronic parts and components for use in more advanced products.

6.2.3 Electronic Equipment and Instruments


Companies designing and/or manufacturing electronic equipment and instruments for measurement purposes. This code
includes sensors, electrical instruments, microscopes, oscilloscopes, electronic testing equipment, scientific measurement
devices.

6.2.4 Office Electronics


Companies developing electronics specifically for use in businesses and home offices. This includes printers, copiers, fax
machines, plotters.

6.2.5 Storage (IT)


Companies designing and/or manufacturing devices meant to store data electronically onto computers. This includes hard
drives, flash memory, flash disks, optical drives.

6.2.6 Other Computer Hardware


Other companies working in the hardware space that do not belong in any of the outlined industry codes.

6.3 Semiconductors

6.3.1 Application Specific Semiconductors


Companies that manufacture and design semiconductors and integrated circuits for specific applications. This includes
specialized use in automotive, military, computers, industrial or medical devices.

6.3.2 General Purpose Semiconductors


Companies manufacturing and designing general-purpose semiconductors and circuits. General purpose means that the
semiconductors can be used in a variety of different tasks and industries.

6.3.3 Production (Semiconductors)


Companies operating semiconductor fabrication plants or foundries. This excludes companies involved in designing
semiconductors.

6.3.4 Other Semiconductors


Other companies working in the semiconductor space that do not belong in any of the outlined industry codes.

6.4 IT Services

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6.4.1 IT Consulting and Outsourcing


Companies providing Information Technology consulting services to businesses; OR companies providing IT outsourcing
services for computer or internet related work, such as programming.

6.4.2 Systems and Information Management


Companies providing cloud storage and hosting services; OR maintaining and operating large data centers. This includes data
centers, cloud hosting.

6.4.3 Other IT Services


Other companies working in the IT services space that do not belong in any of the outlined industry codes.

6.5 Software

6.5.1 Application Software


Companies that primarily design and develop software applications not classified elsewhere.

6.5.2 Automation/Workflow Software


Companies developing software for the purpose of automating a specific workflow.

6.5.3 Business/Productivity Software


Business software is any software or set of computer programs used by enterprises to perform various business functions.
These business applications may be used to increase productivity, to measure business efficiency, and to perform other
business functions more accurately.

6.5.4 Communication Software


Companies that develop software to facilitate either audio, video, or text communication. This code includes email, video
chat, messaging, web-based presentation software, web conferencing.

6.5.5 Database Software


Companies developing database software, which is designed to create databases and to store, manage, change, search, and
extract the information contained within them. A comprehensive database software program is sometimes called a database
management system. This code includes data storage, data backup and recovery, data presentation, multi-user access
control, data security management, database communication.

6.5.6 Educational Software


Companies developing software for the purpose of making learning more effective and efficient via digital means. This
software could be used in classroom, professional, or home settings.

6.5.7 Entertainment Software


Companies developing software for the purposes of distributing content from the entertainment industry, such as books,
videogames, movies, television, and music. This category includes companies making videogames as well. This code includes
mobile gaming, console gaming, streaming software.

6.5.8 Financial Software


Companies developing software for the purpose of automating or assisting with financial processes; OR companies
developing software to be explicitly used by the financial services industry. This code may be used for both enterprise and
consumer solutions. This code includes bookkeeping software, merchant services software, invoicing software.

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6.5.9 Internet Software


Companies developing software for the purpose of manipulating and building applications and interfaces for online use. This
code includes search engines, website builders.

6.5.10 Multimedia and Design Software


Companies developing software to facilitate tasks related to design. The designs in question can range many different types
of industries, from advertising to construction. This code includes BIM software, Photoshop, video editing, graphic design
software. For Example: Photoshop software and Building Information Modeling software are both included in this category.

6.5.11 Network Management Software


Companies developing software for the purposes of protecting computer systems and information stored digitally. Most
software in this category is protecting against threats such as malware, computer viruses, DDOS attacks, ransomware, and
trojans. This code includes antivirus software, firewalls, encryption software, Computer crime, Vulnerability, Eavesdropping,
Malware, Spyware, Ransomware, Trojans, Viruses, Worms, Rootkits, Bootkits, Keyloggers, Screen scrapers, Exploits,
Backdoors, Logic bombs, Payloads, Denial of service.

6.5.12 Operating Systems Software


Companies developing software programs designed to support a computer's basic functions, such as scheduling tasks,
launching applications, and controlling peripherals. Ex: Apple, Microsoft, Red Hat Software, Novell

6.5.13 Social/Platform Software


Developers and Companies developing social media software, designed to foster collaborative behavior, organize
communities, and foster social interaction and feedback between individuals. These platforms generally allow for the
structured mediation of opinion between people in a centralized or self-regulating manner. This code includes blogs, forums,
internet communities.

6.5.14 Software Development Applications


Companies developing software for the express purpose of developing other software. This category also includes software
that tests the functionality and stability of other software as well. This code includes code editors, compilers, code repository
systems, coding frameworks, software testing tools.

6.5.15 Vertical Market Software


Companies developing software aimed at addressing the needs of any given business within a specific industry or market. For
example, software that helps a construction company would be Vertical Market Software, as Construction is a specific
industry. This is different than Horizontal Market Software, which includes things like Microsoft Word or Excel, used across
industries and markets.

6.5.13 Other Software


Other companies working in the software space that do not belong in any of the outlined industry codes.

6.6 Other Information Technology

6.6.1 Other Information Technology


Other companies working in the information technology space that do not belong in any of the outlined industry codes.

7.1 Agriculture

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7.1.1 Animal Husbandry


Companies engaged in animal husbandry, the branch of agriculture concerned with animals that are raised for meat, fibre,
milk, eggs, or other products. It includes day-to-day care, selective breeding and the raising of livestock. This includes dairy
farms, poultry farms, egg production, beef cattle, horses.

7.1.2 Aquaculture
Companies engaged in aquaculture, also known as aquafarming, which is the farming of fish, crustaceans, molluscs, aquatic
plants, algae, and other organisms. Aquaculture involves cultivating freshwater and saltwater populations under controlled
conditions, and can be contrasted with commercial fishing, which is the harvesting of wild fish.

7.1.3 Cultivation
Companies engaged in operating large-scale crop farms.

7.1.4 Horticulture
Companies specializing in cultivating fruits, vegetables, flowers, and ornamental plants with a focus on aesthetics, and often
sustainability.

7.1.5 Other Agriculture


Other companies working in the agriculture space that do not belong in any of the outlined industry codes.

7.2 Chemicals and Gases

7.2.1 Agricultural Chemicals


Companies manufacturing or providing chemicals used in an agricultural setting to control pests and disease, or to control
and promote crop growth. This code includes agrochemical, pesticide, herbicide, fungicide, insecticide, fertilizer.

7.2.2 Commodity Chemicals


Companies that provide bulk chemicals that are used to make other chemicals and are sold based on their chemical
compositions. These types of chemicals are differentiated from others in that they are specifically made in large quantities to
satisfy global markets. This includes acetone, ethanol, glycerin, methanol, polycarbonate.

7.2.3 Industrial Chemicals


Companies manufacturing or providing chemicals and gases for use in industrial processes. This includes nitrogen, ethylene,
oxygen, propylene, chlorine, ethylene dichloride, phosphoric acid.

7.2.4 Multi-line Chemicals


Companies manufacturing or providing chemicals for use in multiple industries. For example, the company might provide
chemicals for use in agriculture, industrials, and specialty use.

7.2.5 Specialty Chemicals


Companies providing chemicals to specific industries based on their function. If the company's chemicals service a broad
range of processes within one Industry, Industrial Chemicals should be Primary. This includes electronic chemicals, industrial
and institutional cleaners, specialty polymers, surfactants, construction chemicals, chemicals used in cosmetics, cleaning,
food, paper, printing, and oil and gas mining.

7.2.6 Other Chemicals and Gases


Other companies working in the chemicals and gases space that do not belong in any of the outlined industry codes.

7.3 Construction (Non-Wood)

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7.3.1 Raw Materials (Non-Wood)


Companies providing non-wood materials for construction. This code includes stone, gravel, sand, cement, bricks.

7.4 Containers and Packaging

7.4.1 Metal Containers and Packaging


Companies manufacturing or providing containers and packages made of metal.

7.4.2 Paper Containers and Packaging


Companies manufacturing or providing containers and packages made from paper.

7.4.3 Plastic Containers and Packaging


Companies manufacturing containers and packages made of plastic.

7.4.4 Wood Containers and Packaging


Companies manufacturing or providing containers and packages made from wood.

7.4.5 Other Containers and Packaging


Other companies working in the containers and packaging space that do not belong in any of the outlined industry codes.

7.5 Forestry

7.5.1 Forestry Development/Harvesting


Companies developing and harvesting forests.

7.5.2 Forestry Processing


Companies milling raw forest products into marketable materials. This code includes dimension lumber, boards, beams,
timbers, poles, ties, shingles, shakes, siding, wood chips.

7.5.3 Paper/ Soft Products


Companies converting forestry raw materials into paper and related soft products.

7.5.4 Wood/Hard Products


Companies developing forestry raw materials into wood products such as flooring and furnishing products.

7.5.5 Other Forestry


Other companies working in the forestry space that do not belong in any of the outlined industry codes.

7.6 Metals, Minerals and Mining

7.6.1 Aluminum Mining


Companies mining, producing, or selling aluminum.

7.6.2 Coal Mining


Companies mining, producing, or selling coal.

7.6.3 Gold Mining


Companies mining, producing, or selling gold.

7.6.4 Iron and Steel Mining


Companies mining, producing, or selling iron and steel.

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7.6.5 Multi-line Mining


Companies mining, producing, or selling multiple types of mined material.

7.6.6 Precious Metals and Minerals Mining


Companies mining, producing, or selling precious metals and minerals. Precious metals and minerals are those that are rare
enough or prized enough to carry a high economic value. This includes gold, silver, platinum, diamonds.

7.6.7 Other Metals, Minerals and Mining


Other companies working in the metals, minerals, and mining space that do not belong in any of the outlined industry codes.

7.7 Textiles

7.7.1 Animal Textiles


Companies manufacturing animal-based textiles. This includes wool, cashmere, and silk.

7.7.2 Plant Textiles


Companies manufacturing plant-based textiles. This includes hemp, cotton, bamboo, and flax.

7.7.3 Mineral Textiles


Companies manufacturing mineral-based textiles. This includes asbestos, glass fiber, and metal fiber.

7.7.4 Synthetic Textiles


Companies manufacturing synthetic textiles. This includes polyester, aramid, nylon, and spandex.

7.7.5 Other Textiles


Other companies working in the textile space that do not belong in any of the outlined industry codes.

7.8 Other Materials

7.8.1 Other Materials


Other companies working in the materials and resources space that do not belong in any of the outlined industry codes.

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