Pigment, a Paris, France-based business planning platform startup, raised $88 million in a Series C funding round to support its growth and product development.
The round was led by ICONIQ Capital, with participation from existing investors Meritech, IVP, and FirstMark Capital. With this latest round, the total amount raised by the Paris-based company now stands at $248 million.
Along with using the new funding to grow its platform further, Pigment also plans to increase its workforce by about 80% by the end of 2023.
“In today’s economic climate, far too many companies are being held back because they don’t have the right tools in place to get a full view of their business, manage changes and grow,” Eléonore Crespo, co-founder, and co-chief executive of Pigment, said ahead of the announcement. “They’re forced to plan and make decisions with inaccurate, incomplete, and siloed information.”
Pigment recently introduced an AI-based version of its business planning platform called Pigment AI, which offers features such as data querying, pattern identification, smart insights, and assisted modeling and scenario building.
Company: Pigment SAS
Round: Series C
Funding Month: June 2023
Lead Investors: ICONIQ Capital LLC
Additional Investors: Meritech, IVP, and FirstMark Capital
Company Website: https://www.gopigment.com/
Software Category: Business Planning Platform
About the Company: Founded in 2019 by Eleonore Crespo and Romain Nicoli, Pigment is an enterprise-grade business planning platform. It offers a cloud-based business forecasting platform that handles business strategy in real time. Pigment’s platform is pitched as offering an intuitive, full-spectrum view of a company that allows users to plot future scenarios in real time through charts, simulations, and continuous modeling. The company has established connections with numerous enterprise software products, such as NetSuite, SAP, Sage Intacct, Xero (ERPs), Workday, BambooHR (HR information systems), Snowflake, AWS Redshift, Google BigQuery (data lakes). Integration with Salesforce is also available. Pigment has offices in Paris, London, Toronto, and New York City, and its clientele includes Klarna Bank, Miro, PVH Corp., Airtable, Figma, Webhelp, and Poshmark.